London — Oil prices edged lower on Thursday ahead of a key Opec meeting where members are expected to weigh up deeper output cuts in an effort to prop up prices and prevent a glut in 2020.

The oil cartel is seeking to extend production cuts of the group together with its allies led by Russia by more than 400,000 barrels per day (bpd) from their current 1.2-million bpd, sources told Reuters...

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