Reuters: Oil hovers at $40 despite record OPEC cut

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Oil hovers at $40 despite record OPEC cut
      

SINGAPORE (Reuters) - OPEC's biggest production cut ever failed to aid oil prices on Thursday, with U.S. crude hitting a four-and-a-half-year low under $40 as traders doubted the cartel's ability to curb output fast enough to match collapsing demand.<div class="feedflare">
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