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decline in oil prices and news of a possible increase in the production of "OPEC"[/size]
Twilight News
2 hours ago
decline in oil prices and news of a possible increase in the production of "OPEC"[/size]
Twilight News
2 hours ago
Oil prices fell on Thursday on expectations that Opec members would raise production in the face of concerns over supply from Venezuela and Iran.
Prices were also affected by a sudden increase in US crude inventories, pushing the price difference between Brent crude and US WTI to near a three-year high.
London Brent crude fell 37 cents to $ 79.43 a barrel, while the WTI fell 27 cents to $ 71.57 a barrel by 0.38 percent.
Opec sources have said the Organization of the Petroleum Exporting Countries may decide to increase oil production to compensate for the decline in supply from Iran and Venezuela, amid fears of disruption of supplies.
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