OPEC JACKS UP PRICE TARGET, OIL FLOW QUOTA

The Organization of Petroleum Exporting Countries has set off in pursuit of a $21/bbl crude oil reference price, $3/bbl more than the old reference price that was beyond reach for most of this year. How close the 13 members come to their immediate goal will depend on how closely they observe the organization's new production ceiling of 22.491 million b/d agreed on at OPEC's July 27 ministerial meeting. Oil prices on world markets rose in response to the agreement in Geneva, then jumped

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