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Oil could drop to USD 35/barrel – OPEC source on Reuters

FXStreet (Mumbai) - OPEC source, while speaking to Reuters, said the oil prices could drop to USD 35/barrel.

The statement comes ahead of the OPEC meeting on Friday, where the group is expected to keep the production levels unchanged.

Of late, there have been talks of Saudi Arabia; the largest producer of oil; showing readiness to work with non-OPEC members in order to support prices. However, the markets do no expect the Kingdom to announce any such measures on Friday.

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