{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='AUSTRIA: VIENNA: OPEC VOTE TO REDUCE EXCESS OIL PRODUCTION' data-url='/boclips/videos/5c54bfabd8eafeecae144f19' data-video-url='/boclips/videos/5c54bfabd8eafeecae144f19' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nAUSTRIA: VIENNA: OPEC VOTE TO REDUCE EXCESS OIL PRODUCTION\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eNatural Sound The Organization of the Petroleum Exporting Countries formally voted on Thursday to reduce excess oil production, but analysts had their doubts and the market value actually dropped.Prices fell in New York and London on...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eNatural Sound \u003cbr/\u003eThe Organization of the Petroleum Exporting Countries formally voted on Thursday to reduce excess oil production, but analysts had their doubts and the market value actually dropped.\u003cbr/\u003ePrices fell in New York and London on contracts for future delivery of oil, reversing the quick gains made late Wednesday when O-P-E-C ministers said they had reached a production agreement that everybody would abide by.\u003cbr/\u003eO-P-E-C ministers ended their annual summer meeting in Vienna on Thursday with an agreement to roll over their official production ceiling of just over 25 (m) million barrels a day for six months.\u003cbr/\u003eAt a press conference, OPEC's secretary-general, Rilwanu Lukman, tried to insist the cheating might really stop this time, because members were more open in  acknowledging their overproduction.\u003cbr/\u003eBut analysts said admitting a problem is easier than solving it, adding they'd prefer to wait and see.\u003cbr/\u003eTraders didn't trust the announcement either.\u003cbr/\u003eThey were more concerned about the extra 2 (m) million barrels coming onto the market each day from individual O-P-E-C members who won't stick to their production quotas.\u003cbr/\u003eThey responded by selling off oil futures in New York and London, reversing the quick gains made late Wednesday when O-P-E-C ministers said they had reached a production agreement that everybody would abide by.\u003cbr/\u003eLukman said he hoped if O-P-E-C's members restrained their output it will help the market go up.\u003cbr/\u003eBut ministers are clearly worried about the market, which has given O-P-E-C a beating the last six months.\u003cbr/\u003eO-P-E-C is now getting about 17 (U-S) dollars a barrel for its oil, after enjoying prices of around 23 (U-S) dollars late last year.\u003cbr/\u003eVienna, Austria - June 26, 1997\u003cbr/\u003e1. Pan from river to OPEC building\u003cbr/\u003e2. Close-up flag\u003cbr/\u003e3. Security guard outside\u003cbr/\u003e4. Pan of press conference\u003cbr/\u003e5. OPEC secretary-general, Rilwanu Lukman, speaking\u003cbr/\u003e6. Wide shot presser\u003cbr/\u003e7. Rilwanu Lukman talking in group, shaking hands\u003cbr/\u003e8. 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class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eDate\u003c/dt\u003e\n\u003cdd\u003e1997\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003ci aria-hidden='true' class='fai fa-solid fa-language'\u003e\u003c/i\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eAudiences\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?audience_ids%5B%5D=371079\u0026amp;grade_ids%5B%5D=259\u0026amp;search_tab_id=1\"\u003eFor Teacher Use\u003c/a\u003e\u003c/span\u003e\u003c/dd\u003e\u003cdd class=\"text-muted\"\u003e\u003ci class=\"fa-solid fa-lock mr5\"\u003e\u003c/i\u003e2 more...\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='concepts-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='concepts-heading'\u003eConcepts\u003c/h2\u003e\n\u003cdiv class='clearfix'\u003e\n\u003cdiv class='details-list concepts' data-identifier='Boclips::VideoDecorator' data-type='concepts'\u003eaustria, europe, business, western europe\u003c/div\u003e\n\u003cdiv class='concepts-toggle-buttons' data-identifier='Boclips::VideoDecorator'\u003e\n\u003cbutton aria-expanded='false' class='more btn-link' type='button'\u003e\n\u003cspan\u003eShow More\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-down ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003cbutton aria-expanded='true' class='less btn-link' style='display: none;' type='button'\u003e\n\u003cspan\u003eShow Less\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-up ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='additional-tags-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' 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