Crude prices fell on concerns that Opec and non-Opec production cuts are failing to draw down global inventories. Atlantic basin crude benchmark North Sea Dated fell to its lowest since the Opec agreement to cut output was signed on 30 November, dropping by $4.28/bl to $50.73/bl in the week to 9 March. US marker front-month WTI dropped by $3.33/bl to $49.28/bl, dipping below $50/bl for the first time since November. Mideast Gulf benchmark May Dubai fell by $4.49/bl to $50.56/bl.
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