Oil prices climb after OPEC+ keeps output cut targets
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Oil prices rose as much as 2% on Monday after OPEC+ nations held their output targets steady ahead of a European Union ban and a price cap kicking in on Russian crude. At the same time, in a positive sign for fuel demand, more Chinese cities eased Covid-19 curbs over the weekend, though a patchwork easing in policies sowed confusion across the country on Monday.
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