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Oil prices dropped below $80/bbl
May 28, 2018
Source: Rigzone

Oil prices dropped below $80/bbl

Oil prices dropped about $1 on Thursday with a probability that decreased supplies from Venezuela and Iran could provoke OPEC to slow down the output cuts since 2017. OPEC and oil industry sources have informed Reuters that OPEC members may lift output in June to compensate for reduced supply from crisis-hit Venezuela and Iran, following which production cuts could be eased "softly".

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