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Global oil output cut likely to be extended

   The organization of petroleum exporting countries OPEC and non opec members are having joint meetings on extending global crude oil supply cut to nine months or more so as to give oil price a rebalance and not to experience crude oil price fall by January next year. Opec has planned to peg oil price not to go below $60 per barrel but countries like the United States are not making it a full reality.

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