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Monday, 23 January 2017

Top Crude News


Oil firms after producer meeting, but high US output weighs 

MCX Free Tips Oil edged up on Monday on statements over the weekend from OPEC and other producers that they have been successfully implementing output cuts, but gains were limited by a surge in US drilling. 

OPEC and non-OPEC countries have made a strong start to lowering their oil output under the first such pact in more than a decade, energy ministers said on Sunday as producers look to reduce oversupply and support prices. 

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