Business & Finance Friday April 21, 2017
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BAGHDAD / Sky Press:
Oil prices rose on Friday, despite his way to incur the biggest weekly loss this month amid expectations that lead production cuts by OPEC led to the rebalancing of the market because of the glut of about supply.
The increased global London Brent crude futures eight cents to $ 53.07 a barrel.
The total crude West Texas Intermediate US in decades this month to $ 50.82 a barrel, up 11 cents from the previous close, and tends to record a weekly decline of 4.5 percent was the largest since the tenth of March, too.
The Inn Van more than 3.5 percent each earlier this week after doubts arose in the impact of efforts led by the Organization of the Petroleum Exporting Countries (OPEC) to cut production by about 1.8 million barrels per day during the first half of this year.
The Organization of Petroleum Exporting Countries "OPEC" has decided in the first Kaon last cut oil production by 1.2 million barrels per day, which came into force with effect from January this year.