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Oil prices rise after OPEC extends output curbs

Reuters  |  LONDON 

By Polina IvanovaLONDON (Reuters) - Oil edged up on Friday after OPEC and other major producers agreed to continue reining in output until the end of next year to try to reduce the global oil glut and boost prices.The Organization of the Petroleum Exporting Countries and some non-OPEC producers led by Russia agreed on Thursday to keep current limits on output in place until the end of next year, although they signalled a possible early exit from the deal should the market overheat and prices rise too far.Brent was trading at $63.17 by 1351 GMT, up 54 cents on the day. U.S. light crude was up ...

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First Published: Fri, December 01 2017. 20:53 IST