Crude prices have fallen despite statements by OPEC leader Saudi Arabia and major non-OPEC producer Russia that the cartel and a group of other states would extend limits on output this year.
Speaking at the Asia Oil and Gas conference in Malaysia on Tuesday, Saudi energy minister Khalid al-Falih said he was “confident” that OPEC would agree to extend output cuts in the second half of 2017 at their meeting later this month in Vienna.
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