The logo of the Organization of the Petroleum Exporting Countries (OPEC) is pictured at its headquarters in Vienna, Austria, August 21, 2015. REUTERS/HEINZ-PETER BADER
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Oil climbed a second day after tumbling to a six-year low amid signs the U.S. may allow unfettered crude exports for the first time in 40 years.The U.S. benchmark slid below $35 a barrel Monday for the first time since February 2009 .The U.S. grade has traded at a discount to Brent for most of the past five years as U.S. output surged with the shale drilling boom and national oil inventories ballooned.The group failed to agree to production limits at Dec. 4 talks, instead setting aside its quota of 30 million barrels a day until the next gathering in June.U.S. crude inventories probably decreased by 500,000 barrels in the week ended Dec. 11, according to the median estimate in a Bloomberg survey of nine analysts before Energy Information Administration data Wednesday.
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