Oil gains on OPEC+ deal, stocks stymied by pandemic worries

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TOKYO/SINGAPORE (Reuters) – Global equities weakened on Monday as investors braced for more indications of economic damage from the coronavirus pandemic while oil prices rose in choppy trade following a landmark deal by OPEC and its allies to cut output.

U.S. West Texas Intermediate (WTI) crude futures CLc1 were up 3.9% at $23.6 per barrel in a volatile session, having fallen more than 3% to $22.03 earlier in the day.

Those moves came after a group of oil producing countries known as OPEC+, which includes Russia, agreed to reduce production by 9.7 million barrels per day (bpd) for May-June, after

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