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Futures Movers: Oil retreats as traders await rig data, OPEC meeting

Oil ended at its lowest level in a bout a week on Friday, with expectations for a rise in OPEC output pressuring prices ahead of coming meeting of major producers.

Tanker-tracking firm Petro-Logistics said Friday oil production from the Organization of the Petroleum Exporting Countries is set to rise by 145,000 barrels a day this month to more than 33 million barrels a day, according to a report from Reuters. The news sent prices to fresh intraday lows.

But prices finished just above those lows after Baker Hughes BHGE, -2.43% released weekly figures showing that the number of active U.S.

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