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Oil Falls After OPEC + Extends Supply Talks

Adel 2 July, 2021 1:30 pm Commodities, Market Update

Oil prices fell on Friday, July 2 after OPEC + ministers postponed their meeting on production policy, while sources said that the UAE had blocked plans to return two million barrels per day to the market in the second half of the year.

Brent crude futures were down 20 cents at $75.64 a barrel, after rising 1.6% on Thursday.

US West Texas Intermediate crude futures fell 15 cents to $75.08, after jumping 2.4% on Thursday to close at their highest level since October 2018.

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