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The price of oil remains steady but a looming Fed meeting can affects its future price.
The cartel has made some bold steps to reduce the supply glut and force an uptrend in oil prices.
The Organization of the Petroleum Exporting Countries decided to reduce the oil production to decrease the oil surplus.
Qatar announced that its production output of liquefied natural gas will increase to 100 million tons a year as a response to the sanctions.
OPEC wanted to cut production because oil prices had remained stubbornly low, which cut revenue. But when members sell fewer barrels of oil, they obviously limit...