Oil prices jumped $3 a barrel on Monday as OPEC+ considered reducing output by more than one million barrels per day (bpd) to buttress prices with what would be its biggest cut since the start of the COVID-19 pandemic.Brent crude futures for December delivery rose $2.99 to $88.13 a barrel, a 3.5 percent gain, by 12:50pm ET (16:50 GMT). United States West Texas Intermediate crude rose $3.33, or 4.2 percent, to $82.82 a barrel.Oil prices have declined for four straight months since June, as COVID-19 lockdowns in top energy consumer China hurt demand while rising interest rates and a surging United States dollar weighed on global financial markets.
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