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Brent touches $80 on promising OPEC production cuts

Brent touches $80 on promising OPEC production cuts

SINGAPORE: Brent briefly climbed to $80 a barrel on Friday on supposition that OPEC could agree to output cuts at its meeting next week, with strong US economic data also sustaining oil prices.
Venezuela reiterated its call for production cuts, with Foreign Minister Rafael Ramirez saying it was willing to curb its own output if the Organization of the Petroleum Exporting Countries agreed to reduce production at its Nov. 27 gathering.