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Oil lower amid doubts over agreement at Doha meeting

Published 14/04/2016, 12:15
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Investing.com - Oil prices fell on Thursday as OPEC warned of slowing demand and Russia hinted that there might only be a loose agreement at the upcoming exporter meeting to rein in ballooning oversupply

Brent crude futures were down 2 cents at $44.16 a barrel at 10:10 GMT.

U.S. crude was down 3 cents at $41.73 a barrel.

Russian oil minister Alexander Novak said that a deal on an output freeze scheduled this weekend will be loosely-framed with few detailed commitments.

With the likelihood of a binding freeze by OPEC and Russia fading, analysts will look to the U.S. oil industry to see if lower drilling will result in falling production.

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