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Floating oil storage has dropped by one-third in 2017 - OPEC source

BEIJING, May 15 (Reuters) - Global oil inventories in floating storage have declined by one-third since the start of the year, a source from the Organization of the Petroleum Exporting Countries told Reuters on Monday.

The drop in stockpiles is the latest sign that output cuts by major producers have helped deplete a global glut.

(Reporting by Aizhu Chen; Writing by Josephine Mason; Editing by Christian Schmollinger)