Saudi Arabia has started to implement an output cut,reducing November supplies to some customers after hiking formula prices.And buyers of Nigerian crude have had their October-loading cargoes reduced by 5pc.But talks over a wider lmn b/d cut by Opec members dragged on last week.The market had expected an official Opec announcement,and its absence allowed prices to fall below S60/bl,despite evidence that the threat of tighter supplies is real.
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