Word: indonesiaâ
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...cuts that some cartel members may eventually find intolerable. Cutbacks would be particularly rough for Iran and Iraq, both of which plan substantial production increases hi the next few years to finance their grand development programs. Rather than reduce output, other populous countries with ambitious development schemes?Nigeria, Venezuela, Indonesia???might be tempted to buck the cartel by selling below the fixed price. Ecuador, which badly needs development money, is already in some trouble. High prices have cut demand for its oil by one-third since...
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