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Iraq and Russia contribute to the rise in oil prices by about 4%
Iraq and Russia contribute to the rise in oil prices by about 4%
Oil prices rose more than 4 percent on Sunday, boosted by lower Iraqi and Russian production, as well as a tentative agreement among OPEC members on cut production.
Brent crude <LCOc1> rose $ 2.73, or 4.59 percent, to $ 62.11, while US crude rose $ 2.48, or 4.87 percent, to $ 53.41.
"Iraqi exports for the month of November fell to 101 million barrels from 107 million barrels last October," a ministry statement said.
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