OPEC Expected to Prolong Curbs to Ease Global Glut at Vienna Meeting

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OPEC will extend an accord that trims production, even as surging U.S. output threatens the group’s goal of draining excess supply, according to a Bloomberg survey.

“They don’t have much of a choice other than to extend the cuts,” Kim Brady, senior managing director at SOLIC Capital in Evanston, Illinois, said by telephone. “They have said they will do whatever needs to be done to balance the market. They haven’t quite achieved that yet”…

 

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