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Economy & Business - October 2006

VENEZUELA: Bit of a boom

There is little sign of the boom coming to abrupt end, even though the price of oil has started to slide. The government's response to the drop in oil prices has been to curb production (along with Nigeria and Kuwait) to try to put a floor under the international price. At the beginning of October, Nigeria cut its production by 120,000bpd and Kuwait by an unspecified amount.

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