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Oil slipped in early Asian trade on Monday as traders eyed an Opec technical meeting this week which is expected to recommend an easing in supply cuts that have been propping up crude prices.
However, prices rose more than 2 per cent on Friday after an upward revision by the International Energy Agency in its 2020 oil demand by 400,000 barrels per day.
pec’s Joint Ministerial Monitoring Committee (JMMC) will meet on Tuesday and Wednesday to recommend the next level of cuts.
Opec and Russia were expected to ease their supply cuts as global oil demand has recovered and prices have bounced back.
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