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Grip of Opec+ on oil market loosening

Saudi- and Russia-led group’s share of world oil output at a record-low 51%

A fuel tank farm and pipeline infrastructure operated by the Russian oil transport group Transneft. (Photo: AFP)

PARIS – Slowing demand growth and rising US crude production will make it more difficult for Opec+ to continue to prop up prices, the International Energy Agency (IEA) said on Thursday.

The Opec+ cartel, led by Saudi Arabia and Russia,…

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