Oil hits six-week low as OPEC fails to curb oversupply

Oil hits six-week low as OPEC fails to curb oversupply

Oil prices dropped to six-week lows on Thursday, under pressure from high global inventories and doubts about OPEC’s ability to implement agreed production cuts. Brent crude oil fell 30 cents to $46.70 a barrel, its weakest since May 5 and just above six-month lows, before recovering a little to trade around $46.90 by 1345 GMT….

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