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Oil Extends Decline With Supply in Focus Before OPEC+ Meeting

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il prices extended their decline for a third consecutive day amidst concerns of oversupply, as indicated by a key market gauge. The upcoming OPEC+ supply meeting on Sunday added to the uncertainty. Brent crude for August remained near $82 per barrel after experiencing a 1.9% drop on Thursday, while West Texas Intermediate traded below $78 per barrel. Both benchmarks are on track for a monthly decrease.