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The development further raises pressure on the Organization of the Petroleum Exporting Countries to boost supply amid calls from U.S. President Donald Trump to lower oil prices. On Friday, a source familiar with the discussions told Reuters OPEC and its allies led by Russia were considering the possibility of raising crude supplies by a further 500,000 barrels per day (bpd) as U.S. sanctions on OPEC's third-largest producer, Iran, bite into Tehran's exports. As a result, the strength of oil prices is now putting oil demand growth at risk," he added.
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