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Article: Oil Price Tops $30 per Barrel as Saudi Arabia Curbs Output.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- August 29, 2003
CopyrightCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Stephen J. Glain, The Boston Globe Knight Ridder/Tribune Business News
Aug. 29--WASHINGTON-- s Americans face near-record prices for a gallon of gasoline -- more than $2 a gallon in some parts of the country -- the world's largest petroleum-producing nation is rationing supply to drive crude costs higher.
Since the removal of Ira...i dictator Saddam Hussein, Saudi Arabia has curbed its oil output by more than a million barrels a day to keep prices above $22 to $28 a barrel, the range preferred by the Organization of Petroleum Exporting Countries. The result: The price of oil has climbed above $30 a barrel and looks like it could stay that way ...
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