London — Oil prices rose on Friday after a slide to a one-month low the previous day prompted investors to buy at cheaper levels ahead of an oil cartel Opec meeting next month at which producers could prolong output curbs. Most analysts polled by Reuters expect the deal between the Opec and non-Opec producers struck in December 2016 to be extended to the end of this year. "Opec ... effectively said the production cut will be extended, meeting the reality of the restart of a big Libyan oil field and the continued expansion of US shale oil," said Greg McKenna, chief market strategist at brokerage AxiTrader. Compliance with the output deal is still a major price driver and comments from non-Opec member Russia that it would meet its end-April target of cutting output by 300,000 barrels per day (bpd) also supported prices on Friday. Russia said it would define its position on whether to support an extension of the output deal by May 24, a day before the official Opec meeting in Vienna. B...
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