Why OPEC is cutting oil production

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CNNMoney's John Defterios explains what the first reduction in output since 2008 means for the oil market and the consumer.
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Its better to have stability at a higher price

sahngcobo
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the Message behind this is those countries wont reduce their production ..not on the books any way...they are going to stockpile as they might need it in the coming instability.

quatokistouffer
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stable prices are better than lower prices? why?

dru