OPEC warns on oil 'oversupply' ahead of crunch Doha meeting
OPEC
Vienna - Arab Today
OPEC warned Wednesday that the world remains awash with crude ahead of a crunch meeting in Doha between cartel members and other major producers to discuss a production freeze to boost the oil price.
Despite a recent rebound in prices, "hurdles prevail as oversupply persists and inventories remain high," the Organization of Petroleum Exporting Countries said in its April monthly report released before Sunday's meeting.
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