Crude oil fell for a third day after the Organization of Petroleum Exporting Countries deferred a decision to reduce output until its next meeting on Dec. 17.
OPEC said it will use the time to gauge the impact of a 1.5 million-barrel-a-day reduction agreed to in October. The group will trim production at its next meeting, the secretary general said today. Slowing growth means demand will be “much lower” than expected a month ago, OPEC said after a Nov. 29 gathering.
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