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2020 November 11   09:25

Oil prices rise in response to growth of US reserves

Oil prices rose by 1.17-1.26%

As of November 11 (07:27, Moscow time), Brent Crude futures for January delivery rose by 1.17% to $44.12 per barrel on the London-based ICE Futures Europe Exchange.

Light Sweet Crude (WTI) futures for December delivery on the New York Mercantile Exchange rose by 1.26% to $41.88 per barrel.

OPEC+ approved on April 12, 2020, new oil output cut by 9.7 million bpd in May-June, 7.7 million bpd in the second half and 5.8 million bpd by May 2022.

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