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The Standard e-Paper
Kenya's Bold Newspaper
The Standard Group Plc is a multi-media organization with investments in media
platforms spanning newspaper print operations, television, radio broadcasting,
digital and online services. The Standard Group is recognized as a leading
multi-media house in Kenya with a key influence in matters of national and
international interest.
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The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, on Thursday announced further production cuts for next year to bolster oil prices that have recently tumbled amid a weakening economic backdrop.
Following a virtual meeting of OPEC+ oil ministers, OPEC said in a statement on Thursday night that its Secretariat "noted the announcement" of several OPEC+ countries to additionally cut a total of 2.2 million barrels per day (bpd) for the first quarter (Q1) of 2024, which aims to support "the stability and balance of oil markets."
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