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Friday, 03 June 2016 - 12:46
Oil Prices Rise Despite OPEC Failure to Cap Output
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The price of oil rose slightly despite a meeting of the Opec oil producers' group failing to set a cap on the amount of oil the group produces.

Brent crude ended yesterday 0.4% higher at 49.94 dollars a barrel.

Prices initially fell but then reversed course when figures showed that US crude stockpiles had fallen in the past week.

In a statement, Opec said its members were committed to a "stable and balanced oil market".

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