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Article Summary
- Oil prices are on the rise as OPEC prepares to extend production cuts
- OPEC and its allies are expected to extend their current production cut agreement
- The extension of production cuts is expected to support oil prices in the near future
- The decision to extend production cuts comes as global oil demand remains uncertain due to the ongoing pandemic
- The oil market is cautiously optimistic about the potential impact of the production cut extension Tone: Neutral
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Oil Prices Rise As OPEC+ Prepares To Extend Production Cuts
Oil prices were moving higher early on Tuesday morning ahead of the latest OPEC+ meeting as members of the group aligned behind plans to extend production cuts into 2025.- US President-elect Donald Trump threatened to slap a 100% tariff on BRICS if the respective countries decide to create a new currency alternative to the dollar, promising to block them from the wonderful US economy.- China...
https://oilprice.com/Energy/Energy-General/Oil-Pri...
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