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Oil prices surge as OPEC+ extends output cuts into April

Oil prices rose on Friday, extending gains from the previous session, after OPEC and its allies agreed not to increase supply in April as they await a more substantial recovery in demand amid the coronavirus pandemic.

Brent crude futures for May rose 60 cents, or 0.9 per cent, to $67.34 a barrel at 0337 GMT, and was on track for a near 2 per cent gain in the week.

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