SINGAPORE — Oil futures retreated on Thursday as the market grew more sceptical about how oil cartel Opec would implement a plan to curb oil output a day after the group agreed to limit production.Benchmark prices had initially extended gains made in the previous session following the decision by the Opec to reduce its aggregate output by 700,000-800,000 barrels a day, or to about 32.5-million to 33-million barrels a day.But Brent and US West Texas Intermediate (WTI) retreated from their highest levels in more than two weeks as the market began to focus on the lack of hard facts about the deal."Investors and traders are sceptical — with good reason. More cynical traders are questioning the complete lack of detail, including the potentially problematic question of which nations will curtail production," Michael McCarthy, chief market strategist at Sydney’s CMC Markets, told Reuters.Opec said each member’s output cuts would be decided at its next formal meeting in November, when an in...
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