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Puerto Rico is staggering under a $72 billion public debt load that its governor has said the U.S. territory cannot pay and must restructure. The island has missed a debt payment and its worsening economic crisis has spooked investors who fear it's headed toward default, with no options for a bailout or bankruptcy declaration. Here's a brief explanation of how Puerto Rico accumulated so much debt, how its territorial status complicates matters and how it could emerge from a nearly decade-long economic slump.
By Barani Krishnan NEW YORK (Reuters) - Benchmark Brent crude settled down on Tuesday on bets OPEC will not cut output to stem a supply glut when the world's biggest oil producers meet later this week, while U.S. crude steadied on expectations of a stockpile drop. Expectations are high that Friday's meeting of the Organization of the Petroleum Exporting Countries in Vienna will choose to continue pumping crude at record levels to defend market share against non-member oil producers such as the United States and Russia. The U.S. Labor Department's closely watched jobs data for November are also due on Friday.