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OilPhoto: AP
Saudi Arabia has announced a reduction in crude oil by half a billion barrels a day next month.
This is considered an indication that OPEC could announce at the next meeting in December that a cut in production is being sought in an effort to maintain prices.
Brent crude oil rose by nearly two percent to $ 71.55 a barrel this morning, while US light oil in New York rose by 1.3 percent to just over $ 61.
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