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Oil prices climbed back on Friday on the back of production cuts by OPEC which will start from next month. Brent crude futures increased by 1.51% and were traded at $55.17 per barrel. WTI was up by 1.53%, at $46.58 per barrel. In an attempt to bring the crude prices back on hike sprint, OPEC will reveal a table of output cut quotas for its members and allies.