Oil slips below $47 as investors eye OPEC meeting

SINGAPORE — Oil prices slipped below $47 a barrel as investors jockeyed over whether OPEC will announce a production cut at its meeting on Sunday, and how big the cut might be.

Benchmark crude for April delivery fell 29 cents to $46.74 a barrel by midday in Singapore on the New York Mercantile Exchange. Oil prices soared $4.70 on Thursday to settle at $47.03.

Prices have lurched between $42 and $47 this week as leaders of the Organization of Petroleum Exporting Countries sent mixed signals about a possible output reduction.

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