By Alex Lawler and Rania El Gamal VIENNA (Reuters) - An OPEC panel reviewing scenarios for the oil producer group's meeting next week is looking at the option of deepening and extending a deal to reduce crude output, OPEC sources said on Friday, in an attempt to drain inventories and support prices. Saudi Arabia and non-OPEC Russia, the world's top two oil producers, have agreed on the need to prolong the current cuts until March 2018, although Saudi Energy Minister Khalid al-Falih said extended curbs would be on the same terms.
The Japanese government on Friday approved a one-off bill allowing ageing Emperor Akihito to step down from the Chrysanthemum Throne, in the first such abdication in two centuries. The bill is likely to receive swift final approval in parliament, Chief Cabinet Secretary Yoshihide Suga said after Prime Minister Shinzo Abe's cabinet signed off on the legislation. Abdication must take place within three years of the bill becoming law.
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