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Oil prices increase as Iraq, Iran willing to cut output

Xinhua, November 29, 2016 Adjust font size:

Oil prices increased substantially on Monday as Iraq and Iran both expressed willingness to cut crude oil output.

The West Texas Intermediate for January Delivery added 1.02 U.S. dollars to settle at 47.08 dollars a barrel on the New York Mercantile Exchange, while Brent crude for January delivery increased 1 dollar to close at 48.24 dollars a barrel on the London ICE Futures Exchange. Enditem