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Oil prices make up for some losses and rise more than two percent

Oil prices rose more than two percent, offsetting some sharp losses incurred during the previous session, as major producers prepare to discuss how to react to the threat to fuel demand caused by the mutant Omicron.

Brent crude futures rose $1.90, or 2.7 percent, to $71.13 a barrel, after falling 3.9 percent on Tuesday.

US West Texas Intermediate crude futures rose $1.71, or 2.6 percent, to $67.89 a barrel, after falling 5.4 percent yesterday.

The Organization of the Petroleum Exporting Countries (OPEC) is meeting, and ahead of Thursday’s meeting of OPEC+, which brings OPEC together with allies including Russia.

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