Oil rises on possible OPEC, Russia deal to cut production

Oil prices continued to rise Friday in anticipation that OPEC and Russia will reach a deal to cut production, easing downward pressure on prices due to an oversupply.Saudi Arabia and Russia have flooded the market with oil as demand collapsed due to the worldwide economic shutdown caused by spread of the coronavirus, also called COVID-19.West Texas Intermediate crude, the gauge of US prices, rose $1.24, or 3.90 percent, to $26.56 a barrel Friday and is up about 20 percent for the week. But it’s still about 40 percent below its January high.Brent crude, the international benchmark, gained $2.74…

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