Oil supply cuts target inventories, not prices: Oman’s oil minister

The Organisation of Petroleum Exporting Countries (Opec) and non-Opec producers led by Russia in last November agreed to extend oil output cuts until the end of 2018 as they try to finish clearing a global glut of crude oil. The producers' current deal is for cutting about 1.8 million barrels per day (bpd) …

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