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Opec unlikely to cut oil output in September

Oil prices have risen above...

August 4, 2009 3:42 by



Opec is not likely to reduce oil output further at its meeting in September if oil prices remain around present levels, two delegates from the group told Reuters. “It is hard to predict now, but I don’t think there is a need to do anything,” said one of the delegates, who declined to be identified. “The market is ok.”

Oil prices have reached more than $70 a barrel this week.




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