Oil Rises After Russia Leans Towards Output Cut

Oil Rises After Russia Leans Towards Output Cut
Two persons pass the logo of the Organization of the Petroleoum Exporting Countries (OPEC) in front of OPEC's headquarters in Vienna, Austria June 19, 2018. Leonhard Foeger/Reuters
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NEW YORK—Oil reversed course and rose as much as 3 percent on Nov. 29, after industry sources said Russia had accepted the need to cut production, together with OPEC ahead of its meeting next week.

Prices, however, were still set for its biggest one-month fall in November since the depths of the financial crisis in 2008, having lost about 22 percent so far.