Oil gained last week has risen above its 200-day moving average for the first time since May. Futures gained as much as 0.7 percent after surging 8.6 percent last week. This came after OPEC announced the group will meet with its partners to discuss the nations falling behind on their pledge to cut production. The announcement has eased concerns that efforts to curb output by OPEC would be offset by rising production elsewhere. The meeting, co-chaired by Kuwait and Russia, is set to take place in Abu Dhabi.

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