Saudi Energy Minister Khalid al-Falih walks off stage after giving a speech in Dubai, United Arab Emirates, Tuesday, Nov. 28, 2017. (AP Photo/Jon Gambrell)
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OPEC is heading for tougher-than-expected policy talks this week amid concern that its efforts to rebalance the oil market might overshoot by creating a global deficit and spurring a further price rally.OPEC, Russia and nine other producers are cutting oil output by about 1.8 million barrels per day until March 2018, and on Thursday will discuss extending the deal.U.S. oil prices fell more than 1 percent on Monday and eased further on Tuesday from a two-year high reached last week.Goldman said oil might fall further this week as the market had priced in a nine-month extension.
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