A flag with the Organization of the Petroleum Exporting Countries (OPEC) logo is seen during a meeting of OPEC and non-OPEC producing countries in Vienna, Austria September 22, 2017. REUTERS/Leonhard Foeger/File Photo
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OPEC may decide to raise oil output as soon as June due to worries over Iranian and Venezuelan supply and after Washington raised concerns the oil rally was going too far, OPEC and oil industry sources familiar with the discussions told Reuters.reduce high global oil stocks, but the inventory overhang has now fallen close to OPEC's target.The sources said that the quick decline in global oil inventories and worries about the impact on oil supplies after the U.S. decision to withdraw from the international nuclear deal with Iran, as well as Venezuela's collapsing oil output, were behind the change in OPEC's thinking.U.S. President Donald Trump accused OPEC last month of "artificially" boosting oil prices.
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