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Oil trades near $39 amid doubts producer talks will curb glut

stander
stander
in Oil, Gas and Energy News

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NEW YORK (Bloomberg) -- Oil traded near $39/bbl in New York amid speculation that a meeting of crude-producing countries next month wont ease a global supply glut.

Futures fell after earlier rising as much as 1.7%. Iran and Libya are the two OPEC members that havent pledged to attend production-freeze talks on April 17 in Doha, Qatar. The absence of the countries that aim to restore supplies shuttered by conflict and sanctions means any accord is unlikely to be effective, Commerzbank AG said last week.

http://www.worldoil.com/news/2016/3/28/oil-trades-near-39-amid-doubts-producer-talks-will-curb-glut

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