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Monday, 26 September 2016

Oil Holds Near $45 as Saudi Offer Opens Door to Future OPEC Deal - Bloomberg

Oil Holds Near $45 as Saudi Offer Opens Door to Future OPEC Deal - Bloomberg:

"Oil held near $45 a barrel as Saudi Arabia’s offer to cut output opened the door to a future OPEC deal, even though the kingdom doesn’t expect an agreement this week when members of the group meet.

Futures added 0.1 percent in New York after slumping 4 percent on Friday. While Saudi Arabia and Iran didn’t reach an agreement after two days of preparatory talks in Vienna, the Saudis did offer to pump less crude if Iran caps output, according to two people familiar with the negotiations. Saudi Arabia proposed to cut its production to January levels, Algerian Energy Minister Noureddine Boutarfa said Sunday."



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