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OPEC cuts 2019 oil demand forecast on global slowdown |
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OPEC cut its forecast for 2019 world oil demand on Tuesday due to slowing economies and expectations of faster supply growth from rivals, underlining its challenge to prevent a surplus even as it starts new production cuts. |
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Oil up nearly 2 percent on Saudi and OPEC cuts |
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Oil prices gained nearly 2 percent on Tuesday, supported by OPEC-led production cuts which Saudi Arabia said it would surpass by over half a million barrels per day (bpd) and by U.S. sanctions against Iran and Venezuela. |
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Mnuchin, in China, looks forward to trade talks |
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U.S. Treasury Secretary Steven Mnuchin looks forward to several important days of trade talks, he said on Tuesday after arriving in the Chinese capital for high-level talks to hammer out a deal ahead of a March 1 deadline. |
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