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OPEC delays output cut until Feb

ASIA-PACIFIC oil prices rose to almost $US63 on Thursday, despite an announcement by OPEC that it would keep its output steady for the time being.

Francine Pennington

But the cartel did pledge to cut production in February by half a million barrels per day or 1.9%, coming as the International Energy Agency warned that OPEC’s 1.2 million bpd October cut was already tightening...

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