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Opec decision to keep output high pulls oil prices close to 2015 lows

By dropping output curbs, the group is willing to accept low oil prices to defend market share, analysts say

Oil extended a recent rally in Asia on Friday, boosted by weakness in the dollar and Russia saying it could meet the Opec producers' group for talks on possible output cuts to ease a painful supply glut.


CRUDE oil prices fell on Monday in the first session after Opec failed to agree on output targets to reduce a bulging glut that has cut prices by more than 60 per cent since June 2014.

The Organization of the Petroleum Exporting Countries failed to agree on an oil...