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The world's oil exporters, including shale oil producers in the U.S., have been unusually like-minded about curtailing output.   © AP
Market Spotlight

Oil market bounces back from COVID depths on vaccine optimism

Further increases depend on OPEC+ countries' ability to maintain output cuts

RURIKA IMAHASHI, Nikkei staff writer | Middle East

TOKYO -- Ten months after turning negative for the first time in history, oil prices are floating up to their pre-COVID level, driven by vaccine optimism and oil producers' output cuts.

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