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Oil Holds Two-Day Advance Ahead of High-Stakes OPEC+ Meeting
Oil steadied after a two-day advance as traders count down to a key meeting that may see OPEC+ extend or deepen production cuts. West Texas Intermediate traded below $78 a barrel, after rising 4% over the previous two sessions. Global benchmark Brent was above $83. OPEC+ heavyweight Saudi Arabia is pressing fellow members to join it in restraining output to stave off a renewed oil surplus next year, but is facing pushback from nations including Angola and Nigeria before a virtual meeting later Thursday. A deeper collective cutback of 1 million barrels a day or more may be considered, delegates said. The absence of ... (full story)