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Non-OPEC oil production falling more sharply than expected

An oil drilling platform floats in Guanabara Bay near Rio de Janerio, Brazil.

OPEC said global oil production outside the cartel is falling more sharply than expected, as producers continue to retrench almost two years after crude prices started what has been its sharp descent.

The Organization of the Petroleum Exporting Countries, a group of some of the world’s biggest producers, on Wednesday forecast that a long-expected...