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Oil prices dip as prospect of deeper Opec output cut dims

NYMEX crude for September delivery fell 20 cents to $45.57 a barrel

Reuters  |  London 

Oil slipped to one-week lows Monday, as several OPEC and non-OPEC ministers met to discuss a pact to curb oil output but the prospect of the group delivering deeper cuts grew more distant. Brent September crude futures fell 18 cents on the day to $47.88 a barrel by 0850 GMT. The price fell 2.5 percent on Friday after a consultancy forecast a rise in OPEC production for July. NYMEX crude for September delivery fell 20 cents to $45.57 a barrel. "Deeper production cuts have been ruled out, but on the agenda will be caps for exempted OPEC members Libya and Nigeria," PVM ...

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First Published: Mon, July 24 2017. 16:25 IST
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