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OPEC+ Said To Have Approaching Preliminary Agreement For Deeper Oil Production Cuts For Next Year

The Organization of the Petroleum Exporting Countries and its allies (OPEC+) have collectively decided to implement an additional 1 million barrels a day of oil supply cuts, reinforcing Saudi Arabia's recent extension of its equivalent voluntary reduction.  Oil prices moved higher, with WTI trading at $77.82 and Brent crude oil moving around 83.90.