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Oil prices rise ahead of OPEC meeting as further output cuts expected

Brent crude oil on Tuesday was up 47 cents at $62.69 a barrel at 0932 GMT while US light crude was at $56.74, up 32 cents

Reuters  |  LONDON 

Oil prices rose on Tuesday as traders looked to a meeting next week at which major crude exporters are expected to extend production cuts, though rising US output capped gains. Brent crude oil was up 47 cents at $62.69 a barrel at 0932 GMT. US light crude was at $56.74, up 32 cents. Analysts said Brent was expected to fluctuate in a narrow range, between $61 and $63, as the market awaited the outcome of the Organization of the Petroleum Exporting Countries' meeting on November 30. OPEC, together with a number of non-OPEC producers led by Russia, has been restraining ...

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First Published: Tue, November 21 2017. 16:31 IST