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Global markets: Crude oil gains ahead of OPEC meeting

By Commodity News Service Canada

WINNIPEG, November 21 – The following is a glance at the news moving markets globally.

– Crude oil futures moved to a three-week-high in early activity on Monday, propped up by ideas that OPEC (Organization of the Petroleum Exporting Countries) members will be able to reach an output agreement ahead of a meeting next week.

New York mercantile crude oil futures advanced close to three per cent Monday morning, which provided spill over support to the commodity-linked Canadian dollar.

– Nigeria’s gross domestic product declined in the third quarter, but the crop production sector of the economy gained.

GDP declined by 2.24 per cent, reports out of the country say.

Agricultural GDP growth increased more than one per cent from the same time frame the previous year.

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