Oil falls as OPEC prepares to extend output cuts
May 25, 2017
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May 25, 2017

OPEC extends oil output cut by nine months to fight glut

VIENNA (Reuters) – OPEC decided on Thursday to extend cuts in oil output by nine months to March 2018, OPEC delegates said, as the producer group battles a global glut of crude after seeing prices halve and revenues drop sharply in the past three years.

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