Crude oil settled higher as market participants continued to expect that ongoing strong OPEC compliance with the production-cut deal will support prices.
Prices remained under pressure amid worries that rising U.S. shale output would dampen OPEC’s efforts to rid the market of excess supplies.
Recent data showed that U.S. energy companies added two oil rigs in the week to Dec. 1, bringing the total count up to 749, the highest since September.
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