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Oil Up Boosted by Key Markets, Ahead of OPEC+ Meeting

Oil was up Wednesday morning in Asia as a strong economic rebound of key consumers boosted fuel demand and drained bloated inventories. Investors now await the Organization of the Petroleum Exporting Countries and allies (OPEC+) meeting for clues on production policy.

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Oil prices nudged up on Monday, underpinned by strong demand during the summer driving season and a pause in talks to revive the Iran nuclear deal that could indicate a delay in resumption of supplies from the OPEC producer.

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