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Oil edges higher after Russia indicates larger output cut

Reuters  |  LONDON 

By Julia PayneLONDON (Reuters) - Benchmark Brent oil edged up on Friday after indications Russia would contribute a bigger output cut than previously suggested to an OPEC and non-OPEC deal, although prospects for an overall agreement still hung in the balance.Brent had nudged up 40 cents to $60.46 a barrel by 1133 GMT after falling below $60 in early trade. U.S. West Texas Intermediate (WTI) crude futures was steady, up a modest 3 cents at $51.52 per barrel. Crude fell almost 3 percent on Thursday after the Organization of the Petroleum Exporting Countries ended Thursday's meeting in Vienna ...

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First Published: Fri, December 07 2018. 17:42 IST
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