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OPEC holds production levels


OPEC holds production levels


The Organisation of Petroleum Exporting Countries, OPEC has agreed to hold their countries oil output at current levels of 30 million barrels per day at a meeting on Thursday.

The decision comes amid concerns about oversupply, a weak global economy, uncertain demand and the impact of Western sanctions on Iran. Prices slipped under 97 dollars a barrel.

Analysts said the oil market was essentially in “wait and see” mode.

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