Oil rises amid optimism over OPEC supply cuts, hopes on U.S.-China trade

Oil prices gained on Friday after OPEC’s forecast for oil demand next year fueled hopes that the producer group and allies will maintain supply cuts when they meet to discuss policy on output next month.

Optimism that the United States and China may soon sign an agreement to end their trade war helped support prices after White House economic adviser Larry Kudlow said a deal was “getting close”, citing what he called very constructive discussions with Beijing.

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