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Saudi Arabia moves to boost oil prices ahead of Aramco IPO

Saudi Arabia is preparing to use its leadership of OPEC to bolster oil prices, as a $25 billion initial public offering of Saudi Aramco approaches, by extending and possibly deepening production cuts. OPEC and oil-producing allies will discuss reducing production by about 400,000 barrels a day, Iraqi Oil Minister Thamir Ghadhban says.

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