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Oil held a gain before the release of OPEC’s market outlook, with traders looking for clues on whether supply curbs will be extended, and US inflation data that will shape expectations for monetary policy. West Texas Intermediate traded above $79 a barrel after advancing by 1.1% on Monday, with global benchmark Brent closing near $83. With rising US ...
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Oil prices remain under pressure this morning after settling 1.3% lower on Friday. Confusion over OPEC+ supply cuts appears to have put pressure on oil prices. There were reports over the weekend that Iraq’s oil minister said that the country would not agree to further supply cuts, and it is not clear whether this refers to a rollover of existing cuts or ...