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Major oil producers to consider cuts after price slide

Oil prices lost a fifth of their value in just one month, driven down by higher supply and fears of slowing demand. [Photo: Courtesy]

Major oil producers meet in Abu Dhabi on Sunday to consider reverting to output cuts after a sharp slide in crude prices revived fears of a 2014-style crash.

Oil prices shed a fifth of their value in just one month after surging to a four-year high in early October, driven by a combination of factors centred on higher supply and fears of sluggish demand.

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