Oil prices fell to their lowest level in a week on Wednesday on expectations U.S. producers would boost output, while OPEC signalled a drop in the global oil supply surplus this year as the producer group’s output fell from a record high.

Oil prices fell to their lowest level in a week on Wednesday on expectations U.S. producers would boost output, while OPEC signalled a drop in the global oil supply surplus this year as the producer group's output fell from a record high.

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