HONG KONG: Oil pared gains as rival Opec members Saudi Arabia and Iran met in Vienna for a second day before the wider group gathers in Algiers to discuss action to stabilise the market.
Futures dropped as much as 1.2% in New York after rising 2.2% on Thursday. Officials from the two countries, whose rivalry derailed an oil supply accord earlier this year, are yet to reach an agreement, a person who was briefed on the discussions said.
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