Oil rises after OPEC+ extends output cuts

The output cuts by the Organization of the Petroleum Exporting Countries and its allies (OPEC+) is expected to cushion the market amid global economic concerns and rising output outside the group, with Russia's announcement surprising some analysts.

Oil rises after OPEC+ extends output cuts
The U.S. West Texas Intermediate (WTI) rose 0.3 per cent to $80.17 a barrel. Image source | Reuters

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