Oil prices dropping
Global oil producers are getting closer to an agreement on an output cut.
Saudi representatives said Sunday that the kingdom would slash its exports unilaterally next month, as a broader OPEC alliance debated — but didn’t agree to — a collective production cut, according to Dow Jones Newswires.
Russia, the world’s largest producer, which usually moves in lockstep on matters with OPEC, has sent mixed signals on whether it would pull back on supply.
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