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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
Published Thu, Nov 27, 2014 · 09:50 PM
Vienna
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 output as collapsing prices have slashed their precious revenues.
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