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Oil Rises After OPEC+ Agrees to Boost Output Gradually Bloomberg 2 hrs ago Alex Longley and Andres Guerra Luz (Bloomberg) Oil rose after the OPEC+ alliance agreed to increase oil production gradually over the next three months. Futures advanced in New York after choppy trading as details of the deal were revealed. The agreement between the Organization of Petroleum Exporting Countries and its allies to increase production from May to July includes a phasing out of Saudi Arabia’s unilateral 1-million barrel-a-day supply cut, according to delegates. The current plan for the group is to boost output by 350,000 barrels a day in May and again for June, before an increase by 440,000 barrels a day in July.

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