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Abu Dhabi Summit: Oil Production Cuts May Be Necessary

OPEC and allied oil-producing countries will likely need to cut crude supplies, perhaps by as much as 1 million barrels of oil a day, to rebalance the market after U.S. sanctions on Iran failed to cut Tehran's output, Saudi Arabia's energy minister said Monday. The comments from the minister, Khalid al-Falih, show the balancing act the U.S. allies face in dealing with President Donald Trump's actions related to the oil industry. Trump in recent weeks demanded the oil cartel...

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