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Oil prices surge to near four-year high

Oil prices have jumped to the highest level for nearly four years after Saudi Arabia and Russia ruled out any immediate increase in production.
The decision on Sunday was effectively a rebuff to US President Donald Trump, who has called for immediate action to raise global supply.
Brent crude rose more than 3% to more than $81 a barrel on Monday, its highest level since November 2014.Saudi Arabia dominates the OPEC group of oil-producing nations and Russia is its biggest oil-producer ally outside the group.They have reportedly been discussing raising output by half a million barrels a day to counter falling supply from Iran.But a meeting of OPEC and non-OPEC energy ministers in Algiers ended without any formal recommendation for a supply boost.Mr Trump said last week that OPEC "must get prices down".
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