Oil advances toward USD 50 after OPEC+ clinches compromise deal

Oil trading nears USD 50 per barrel after OPEC+ reached a compromise deal. The deal came after a tense split between Saudi Arabia and the United Arab Emirates.

BY ANN KOH AND JAMES THORNHILL, BLOOMBERG

Oil extended gains toward USD 50 a barrel after OPEC+ reached a compromise deal to gradually taper production cuts, ending days of uncertainty after cracks emerged in the alliance earlier in the week.

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