Energy Down on OPEC Deal Doubts -- Energy Roundup
Shares of energy companies fell sharply alongside oil futures after the Organization of the Petroleum Exporting Countries postponed a decision on production cuts. Late Thursday, Saudi Energy Minister Khaled al-Falih said the group hadn't reach a deal on the size of a proposed cut, and said he was no longer confident of that occurring Friday. He said OPEC was debating a cut of about 1 million barrels a day -- short of market expectations. The Energy Information Administration reported a drawdown in U.S. inventories for the first time in 11 weeks.
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