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Oil prices rise on output cuts

Xinhua, February 4, 2017 Adjust font size:

Oil prices rose Friday as market saw some of the oil producers went ahead of their schedule in reducing output.

The West Texas Intermediate for March Delivery added 0.29 dollars to settle at 53.83 dollars a barrel on the New York Mercantile Exchange, while Brent crude for April delivery increased 0.25 dollars to close at 56.81 dollars a barrel on the London ICE Futures Exchange. Enditem