Economic news

Oil firm as expected production cut offsets U.S. supply

Crude prices stabilized on Thursday as anticipations that OPEC would prolong output limits balanced growing U.S. oil production and inventories.

Brent crude oil rose 20 cents to $62.07 per barrel. U.S.

WTI edged 10 cents higher to $55.43 per barrel.

World oil markets are waiting for a meeting of the Organization of the Petroleum Exporting Countries in Vienna on Nov. 30 to see whether crude production cuts will be extended.

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