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Oil prices climbed up in the international market on Wednesday, rising over the expected cuts in the production by oil cartel, OPEC. Brent crude was priced 1.12% higher, at $52.44 a barrel. US WTI crude was priced 1.12% higher, at $47.71 a barrel. An OPEC+ panel, on Tuesday, proposed reducing oil output by an extra 1 million barrels per day (bpd).