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Oil falls 2 percent on OPEC cut uncertainty ahead of meeting
Oil prices fell more than 2 percent on Friday, dragged down by uncertainty over whether the Organization of the Petroleum Exporting Countries will reach an output deal, after Saudi Arabia said it will not attend talks on Monday with non-OPEC producers to discuss supply cuts. Brent crude futures were trading at $47.79 a barrel at 10:51 a.m. ET, down $1.21. U.S. crude futures was at $46.84 a barrel, down $1.12. Overall activity on both contracts was thin after the U.S. Thanksgiving holiday and ahead of the weekend. Top OPEC oil exporter Saudi Arabia has told the producer group it will not attend talks on Monday with ... (full story)