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Oil edges up on Chinese demand, but weekly losses loom

Reuters  |  LONDON 

By Libby GeorgeLONDON (Reuters) - Oil prices edged up on Friday, helped by rising Chinese crude demand and threats of a strike in Africa's largest oil exporter. But prices were still on track for weekly losses amid concerns that rising U.S. production could undermine OPEC-led supply cuts.By 1341 GMT, Brent crude was up $1.04 cents at $63.24 a barrel, but heading for a weekly slide of just under 1 percent. U.S. West Texas Intermediate (WTI) crude was at $56.66 a barrel, up 97 cents from their last settlement. The contract was on track for a 1.2 percent loss on the week. China's crude oil ...

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First Published: Fri, December 08 2017. 21:10 IST