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Oil output from OPEC fell in May, hitting a five-year low as the group warned that U.S.-China trade tensions could lead to slower economic growth and weak fuel demand.
Production from the 14-nation producer club fell by 236,000 barrels per day last month to 29.88 million bpd, according to independent sources cited by OPEC in its monthly report. It was the first time OPEC pumped below 30 million bpd since June 2014.
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