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Oil rises as investors anticipate OPEC production cuts

Reuters  |  LONDON 

By Christopher JohnsonLONDON (Reuters) - Oil prices rose on Tuesday, extending gains ahead of expected output cuts by producer cartel OPEC and a reduction in Canadian supply.Brent crude oil jumped by $1.89 or 3 percent to a high of $63.58 before slipping back to trade around $62.25, up 56 cents by 1425 GMT.U.S. light crude was last up 20 cents at $53.15 after earlier gaining more than 3 percent to an intraday high of $54.55 a barrel.Both benchmarks climbed by around 4 percent on Monday after U.S. President Donald Trump and Chinese counterpart Xi Jinping agreed at a meeting of the Group of 20 ...

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First Published: Tue, December 04 2018. 20:01 IST
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