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OPEC: Oil Supply Outpaces Demand

USA Today 09/07/2004

The president of the Organization of Petroleum Exporting Countries (OPEC), Purnomo Yusgiantoro, said world oil production is running 1.5 million barrels per day above demand. Record high prices are being blamed on the demand for oil from the U.S. and China as well as fears over terrorist activity.

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