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Oil prices rise on expectations for output cut deal extension

Xinhua, March 30, 2017 Adjust font size:

Oil prices rose Thursday on reports that major oil producers may extend an output cut deal to ease global glut.

The West Texas Intermediate for May Delivery added 0.84 U.S. dollar to settle at 50.35 dollars a barrel on the New York Mercantile Exchange, while Brent crude for May delivery increased 0.54 dollars to close at 52.96 dollars a barrel on the London ICE Futures Exchange. Endit