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Oil prices rise on high OPEC compliance with cuts

Xinhua, February 22, 2017 Adjust font size:

Oil prices rose on Tuesday after the Organization of the Petroleum Exporting Countries (OPEC) said it has been sticking with the output cut agreement and it hopes to see higher compliance in the future.

The West Texas Intermediate for March Delivery added 0.66 dollars to settle at 54.06 dollars a barrel on the New York Mercantile Exchange, while Brent crude for April delivery increased 0.48 dollars to close at 56.66 dollars a barrel on the London ICE Futures Exchange. Enditem