Oil prices settled higher on Friday, as traders waited to hear the outcome of a meeting Sunday of major crude producers to discuss compliance with the output cut deal that was implemented at the start of the year. For the week, however, prices still lost roughly 1.7% as growing U.S. production threatened to offset the impact of the global output cuts. May West Texas Intermediate crude rose 27 cents, or 0.6%, to settle at $47.97 a barrel.
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