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Oil Slips Before Doha Talks as IEA Sees Global Market Balancing

  • Crude suppliers to discuss output freeze in Doha on April 17
  • Agency sees crude glut falling to 200,000 barrels a day
Updated on

Oil slipped a second day as a meeting of major crude producers in Doha this weekend is seen having minimal impact on supplies.

Futures slipped 0.6 percent in New York. Delegates from OPEC and other oil-producing countries have started arriving in Doha, Qatar’s Energy Minister Mohammed Al Sada said in a statement on Thursday, noting a “positive feeling” ahead of the summit. Declines eased earlier as the International Energy Agency said in a report that global oil markets will “move close to balance” as lower prices take their toll on output outside OPEC.