Oil Slips for First Day in Three as OPEC Considers Extra Meeting
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Oil declined for the first time in three days, retreating from a 29-month high, as members of the Organization of Petroleum Exporting Countries discussed whether to hold a special meeting on a production increase.
Crude slipped as Kuwait’s oil minister said OPEC members are considering whether to convene an “urgent meeting” to determine whether more output is needed. Futures trimmed earlier losses after Goldman Sachs Group Inc. and Bank of America Merrill Lynch raised their oil-price forecasts.