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Oil falls on uncertainty over Russia's stand on Opec deal, higher US supply

The deal expires in March 2018 but is widely expected to be extended at Opec's next meeting on November 30

Reuters  |  London 

Oil prices slipped on Wednesday as doubts set in about Russia's willingness to substantially extend a deal to curb output between some of the world's biggest exporters aimed at tackling global oversupply and bolstering prices. Brent crude futures were down 34 cents on the day at $63.27 a barrel by 0948 GMT, while US light crude fell 31 cents to $57.68 a barrel. Oil prices have rallied by 40 per cent since the middle of the year, supported by a deal between the Organization of the Petroleum Exporting Countries (Opec) and other major exporters, such as Russia, to reduce ...

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First Published: Wed, November 29 2017. 17:33 IST