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Brent lifts again after OPEC agrees to additional 1 million BPD cut

Oil prices have risen again just now after news has emerged on the outcome of the OPEC meeting. According to reports on the main news wires, OPEC members have agreed to an additional output cut, of 1 million BPD. That is on top of the voluntary 1 million cut or more from Sandi Arabia. Ahead of this news, February Brent was trading off is earlier high (revised to 84.61), at around $83.75. This news has sent the price immediately higher again and lifted it closer to $84.50, but it is yet to push the price past that earlier high. In fact, Brent is just now edging back down again, currently trading at $84.05

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