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Opec convinces investors its oil output cuts are real

Money managers most optimistic on WTI prices in a decade as producers reduce crude output

Opec will reduce supply by 900,000 barrels a day in January, the first month of the accord's implementation, which is about 75 per cent of the cut that the producer group has agreed to make.

New York

THE Organization of the Petroleum Exporting Countries (Opec) appears to have persuaded investors that it is making good on promised production cuts.

Money managers are the most optimistic on West Texas Intermediate (WTI) oil prices in at least a decade as Opec and other...

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