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Crude oil rises to $67 on Saudi Arabia’s plan for additional output curbs in April, Venezuelan export cut

The Address | Benghazi – Libya

LONDON – Oil rose to around $67 a barrel on Tuesday, supported by Saudi Arabia’s plan for further voluntary supply curbs in April and a cut in oil exports from Venezuela due to a power outage.

Saudi Arabia, seeking to drain a supply glut and support prices, plans in April to keep its oil output well below the level required of it as part of an OPEC-led supply cutting deal, a Saudi official said on Monday.

Brent crude, the global benchmark, rose by 54 cents to $67.12 a barrel. US West Texas Intermediate crude added 47 cents to $57.26.

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