OPEC extended oil production cuts for nine more months after last year’s landmark agreement failed to eliminate the global oversupply or achieve a sustained price recovery.
Members meeting in Vienna agreed to prolong their accord through March, said delegates familiar with the decision, asking not to be identified before an announcement is made. OPEC is not including an option to add three more months beyond that, as had been mooted, according to a delegate. Oil fell.
Brazil Energy Insight 
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