The price of the main U.S. crude oil contract, WTI, briefly fell by 5 percent in trading on Wednesday after the OPEC+ alliance postponed a key meeting on production policy.
At 1525 GMT, WTI was down 4.6 percent to 74.21 U.S. dollars, while the main European contract, Brent, was down 4.3 percent to 78.88 dollars.
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