Oil prices rose Friday, buoyed by ongoing high compliance among major oil producers with an output-cut agreement. But prices still fell for a fifth-straight week--the longest streak of weekly declines since 2015, as traders continued to fret over rising output from the U.S. August West Texas Intermediate crude added 27 cents, or 0.6%, to settle at $43.01 a barrel on the New York Mercantile Exchange. The contract lost about 4.4% for the week.
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