Oil prices were set to snap a two-week losing streak as they rose for a fourth consecutive session on Friday due to tightening supplies and expectations of the OPEC+ group of oil producers extending output cuts to the end of the year.
Major benchmarks rose slightly, with the U.S. West Texas Intermediate crude (WTI) up 13 cents, or 0.2%, at $83.76 a barrel, while Brent crude was up 17 cents, also 0.2%, at $87/bbl as of 0325 GMT. WTI has risen over 5% during the week, while Brent was up about 3%.
Analysts expect Saudi Arabia to extend a voluntary oil production cut of 1 million barrels a day into October, adding to cuts by the Organization Petroleum Exporting Countries and allies, known as OPEC+.
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