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Oil prices hit fresh lows as Opec begins pivotal meet

12-member cartel under pressure from Venezuela and Ecuador to cut output

Crude prices have tumbled by more than 30% since June, depressed by a strong US dollar and worries about stalling energy demand.


OPEC ministers met on Thursday to decide whether to slash oil production amid a glut in global supplies, sending crude prices to new lows ahead of their pivotal vote.

The 12-nation oil cartel is under pressure from its poorer members such as Venezuela and Ecuador to cut