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Oil costs close to 2019 highs in the midst of OPEC supply cuts, U.S. sanctions.

Oil costs on Friday floated near 2019 pinnacles achieved the earlier day, propped up by supply cuts driven by maker club OPEC and by U.S. sanctions against Iran and Venezuela.

Brent raw petroleum fates were at $67.82 per barrel at 0122 GMT, down 4 pennies from their last close however inside a dollar of the $68.69 per barrel 2019-high denoted the day preceding.

U.S. West Texas Intermediate (WTI) prospects were at $60 per barrel, for all intents and purposes unaltered from their last settlement and not far-removed their 2019 pinnacle of $60.39 addressed Thursday.

Costs have been propped up by supply cuts by the Organization of the Petroleum Exporting Countries (OPEC) and non-associated partners, for example, Russia, regularly alluded to as ‘OPEC+’.

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