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Oil Market: OPEC output rises, US sanctions on Iranian oil in focus

Oil prices dipped on Friday on hopes that producer club OPECwill soon raise output to make up for a decline in exports from Iran following a tightening of sanctions on Tehran by the United States.

Brent crude futures were at $74.16 per barrel at 0223 GMT, down 19 cents, or 0.3 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were at $64.83 per barrel, down 38 cents, or 0.6 percent, from their previous settleme

Source: Oil Market: OPEC output rises, US sanctions on Iranian oil in focus

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