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Oil slips towards $62 in post-OPEC profit taking, U.S. stocks in view

Reuters  |  LONDON 

By Alex LawlerLONDON (Reuters) - Oil slipped towards $62 a barrel on Tuesday as investors took profits in the wake of OPEC and other producers' pact to extend output cuts, although an expected drop in U.S. crude inventories lent support.Crude also slipped on concerns that the OPEC-led producer group's Nov. 30 decision to prolong their supply-cutting deal through 2018 could bolster U.S. output, which climbed to nearly 9.5 million barrels per day in September.Brent crude , the global benchmark, was down 14 cents at $62.31 a barrel by 1218 GMT, declining for a second session. U.S. crude, known ...

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First Published: Tue, December 05 2017. 20:05 IST