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White House says OPEC production cut "anti-market"

WASHINGTON
Fri Oct 24, 2008 9:21am EDT

WASHINGTON (Reuters) - The White House on Friday criticized OPEC's decision to cut oil production by 1.5 million barrels per day as an anti-market decision.

"It has always been our view that the value of commodities, including oil, should be determined in open, competitive markets, and not by these kinds of anti-market production decisions," White House spokesman Tony Fratto said.

The United States has been concerned about high oil prices which have contributed to a slowing economy.

(Reporting by Tabassum Zakaria)


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