U.S. oil prices rallied above $58 a barrel on Wednesday to mark their highest settlement since the end of June 2015. Data from the Energy Information Administration showed a slightly smaller-than-expected weekly fall in U.S. crude supplies, but the decline marked the first weekly fall in three weeks. The data also came ahead of a key OPEC meeting next week, where oil producers are expected to extend a production-cut agreement beyond March of next year. January West Texas Intermediate crude climbed by $1.19, or 2.1%, to settle at $58.02 a barrel on the New York Mercantile Exchange.
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