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Oil prices decline with OPEC+ warning of precarious market outlook

Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman, speaking at the coalition's committee meeting on Monday, called on the group to be proactive in the face of uncertain demand

OPEC, OPEC , Oil
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While demand from China is robust, prices are struggling to push higher as coronavirus cases rise and Libyan supplies recover after a lengthy halt

Elizabeth Low & Grant Smith | Bloomberg
Oil extended declines as Opec+ warned of a precarious outlook for the market while a resurgent virus hits consumption.
 
Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman, speaking at the coalition’s committee meeting on Monday, called on the group to be proactive in the face of uncertain demand. The comments are strengthening expectations that Opec and its allies will delay plans to restore 2 million barrels of halted output at the start of next year.
 
“The main focus is going to be: look, let’s delay the taper, and the conversations are going to be around for how long,” Amrita Sen,

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First Published: Oct 21 2020 | 1:26 AM IST

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