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OPEC Shrugs Off Threat of U.S. Cutting Oil Imports

  • Saudi Arabia, Venezuela stress linkages of world energy trade
  • New U.S. president aiming for energy independence from OPEC
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Oil Producers Agree on Way to Monitor Oil Cut

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OPEC’s two biggest suppliers to the U.S. shrugged off a vow by President Donald Trump to end dependence on the group’s oil, saying the world’s biggest economy would continue to need crude from abroad.

The U.S. is “closely integrated in the global energy market,” Saudi Arabia’s Energy and Industry Minister Khalid Al-Falih said, while his Venezuelan counterpart Nelson Martinez said he expects his country’s crude exports to the world’s top consumer to remain stable.