OPEC nations, Russia look to cut oil output to lift prices
By DAVID McHUGH
The countries of the OPEC oil-producing cartel and ally Russia are trying to finalize a deal to cut production. Their goal is to to support the price of fuel and energy around the world. But they also do not want to lose global market share to the United States, which keeps pumping more oil. The OPEC countries and Russia are expected to decide Friday to prolong a cut of 1.2 million barrels per day that they agreed on for the past three years. They are also discussing an extra cut worth 500,000 barrels a day.
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