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Indonesian oil minister Subroto said OPEC oil production would have to be cut to 14 million or 14.5 million barrels a day to support the cartel`s target price of $28 a barrel. Subroto said such a cut was agreed to in principle by all OPEC members at the recent Geneva conference. Subroto said the suggested ceiling would require reductions in national quotas of 12.1 percent to 14 percent.
