Oil prices down five percent in January as rising U.S. output offsets OPEC-led cuts

http://feeds.reuters.com/~r/reuters/businessNews/~3/C84krlvWNkU/us-global-oil-idUSKBN15F04F

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SINGAPORE (Reuters) - Brent crude oil prices fell around 5 percent from their early January peak as rising U.S. drilling activity offset efforts by OPEC and other producers to cut output in an effort to prop up the market.

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