Oil prices fall as production cut hopes fade

The price of Brent crude fell below $40 a barrel on Monday as it seems
unlikely that oil producing nations will reach a deal to freeze
production.

Oil prices have been rising in recent days on the hopes of a deal but
Iran has announced it's unwilling to curb output levels.

William Denselow reports from New York.

IN: "A global glut.."
OUT: SOC
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