Oil Up Over 1% on OPEC+ Output Increase Restraint
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il prices climbed by over 1% on Wednesday, helped by a smaller than expected output hike from producer group OPEC+ next month, though concerns about oversupply capped further gains.
Brent crude futures rose 82 cents, or 1.3%, to $66.27 a barrel by 0945 GMT. U.S. West Texas Intermediate crude climbed 85 cents, or 1.4%, to $62.58.
The benchmarks settled broadly flat in the previous session as investors weighed signs of a supply glut against a smaller-than-expected increase to November output from the Organization of...
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