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Oil prices flat in choppy trade, output cut signal

Opec seems to be encouraged by the contribution of non-Opec producers to the output cuts

Agencies 

Leading Gulf oil exporters Saudi Arabia and Kuwait gave a clear signal on Thursday that Opec plans to extend into the second half of the year a deal with non-member producers to curb supplies of crude. Oil prices were little changed on Thursday in a seesaw trading session, as investors weighed rising U.S. production against comments from leading Gulf oil producers that an extension to Opec-led supply cuts was likely. Brent futures were up 15 cents to $53.08 a barrel were at 11:40 a.m. EDT (1540 GMT). U.S. crude futures were up 6 cents at $50.50 a barrel. Consensus is ...

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First Published: Fri, April 21 2017. 03:19 IST
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