Commodity Capsule: Brent crude futures are range bound on Friday, after two trading sessions of weak closing.

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Traders speculated on whether OPEC+ would come to an agreement on further production cuts.

Brent crude futures traded under $82 a barrel. There was no settlement for WTI on Thursday as it was a U.S. public holiday.

Both contracts are on track to mark their first weekly rise in five, supported by expectations that OPEC+ could reduce supply to balance markets next year.

OPEC+, on Wednesday, postponed a ministerial meeting by four days to Nov. 30, after producers struggled to come to a consensus on production levels.

China's longer-term outlook is lukewarm. Experts see oil demand growth weakening to around 4 per cent in the first half of 2024

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