Oil futures settle higher for the first time in 4 sessions

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Oil futures climbed Monday to register their first gain in four sessions. “Russian oil companies are reportedly in discussions with government authorities over a possible delay to its plans to increase its oil production from the start of 2021,” said Cailin Birch, global economist at The Economist Intelligence Unit. “This probably reflects a growing trend of caution among other members of the OPEC+ alliance, as the group seeks to calibrate increases in its supply with the fragile recovery in global oil demand.” December West Texas Intermediate crude rose $1.02, or nearly 2.9%, to settle at $36.81 a barrel on the New York Mercantile Exchange.
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