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Oil prices increase as global producers agree to cut output

Xinhua, December 13, 2016 Adjust font size:

Oil prices increased on Monday after oil producers outside the Organization of the Petroleum Exporting Countries (OPEC) agreed to reduce output by 558,000 barrels per day.

The West Texas Intermediate for January Delivery increased 1.33 U.S. dollars to settle at 52.83 dollars a barrel on the New York Mercantile Exchange, while Brent crude for February delivery added 1.36 dollars to close at 55.69 dollars a barrel on the London ICE Futures Exchange. Enditem