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Oil rises on expected supply cuts from OPEC

Sat 17 Nov 2018, 11:53:29

Oil on Friday rose on hopes that supply cuts will be agreed at OPEC's meeting on 6th of December, but failed to recoup recent losses on oversupply concerns that have shaved more than a fifth off the Brent crude benchmark since early

October.

Brent crude prices, in intra day trade yesterday, were trading around 67 dollars and 77 cents while WTI prices were at around 57 dollars and 56 cents when reports last came in.

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