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On Wednesday, oil prices buoyed ahead of the OPEC meeting. Larger than expected decline in US stockpiles also helped the market revive its growth. Brent went up by 0.6% and was traded at $61.17 a barrel. WTI increased by 0.6% and was traded at $56.41 a barrel. Amidst all the scepticism, the industry believes that OPEC with its allies might agree on deeper output cuts during the next meeting.