Oil prices fall after OPEC raises crude output as US Covid-19 cases surge

Oil prices fell 1% on Thursday after OPEC+ agreed to ease record supply curbs and as new infections of the novel coronavirus continue to surge in the United States. Both benchmark Brent and U.S.

crude have remained above $40 a barrel for the last several weeks. The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, lowered daily supply beginning in May and demand worldwide has rebounding, helping prices to stabilize. Fears of a second wave of cases of Covid-19 - led by the United States - are keeping.

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