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OPEC looking for consensus on decreasing oil glut

April 28, 2017

OPEC Secretary General Mohammad Barkindo says influential members of the cartel, including Saudi Arabia, are working to ensure an agreement to extend the supply cut pact is reached when the group meets in Vienna late next month.

Originally, the Organization of Petroleum Exporting Countries along with Russia and some other non-members agreed to curb crude production by a total of 1.8 million b/d for the first six months of this year.

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