Global Supply-overhang

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Oil hits 2018 lows on emerging supply glut; Saudi Arabia pushes OPEC to cut sale to prevent surplus
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Oil hits 2018 lows on emerging supply glut; Saudi Arabia pushes OPEC to cut sale to prevent surplus

Even an expectation that the OPEC producer group will start withholding supply in 2019 to rein in any glut provided little support, traders said.