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Opec+ sticks to plan for gradual oil output hike, price roars higher | Money

LONDON, Oct 5 — Opec+ said on Monday it would stick to an existing pact for a gradual increase in oil output, sending crude prices to three-year highs and adding to inflationary pressures that consuming nations fear will derail an economic recovery from the pandemic. The Organization of the...
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Oil prices buoyed by soaring gas rates ahead of OPEC+ meet

The sharp rise in wholesale gas prices is spilling over into the oil market, with looming demand for electricity generation and heating likely to further spur the sector this winter. The spike in demand and consumption could lead the OPEC+ alliance of oil exporters, which meets in Vienna on Monday, to scale up their production plans.
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