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It is very possible that the OPEC+ meeting scheduled at the beginning of March could be advanced to February, Algeria’s energy minister, Mohamed Arkab, said on Wednesday, Reuters reported citing the state press agency.

When asked about a possible extension to the OPEC+ output cut agreement, “everything is possible,” Arkab responded.

WTI stays under pressure

Crude oil struggled to take advantage of these comments and the barrel of West Texas Intermediate was last seen trading at $53.10, losing 1.5% on a daily basis.