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Oil Rebounds From Five-Year Low as Fighting Curbs OPEC Supplies

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Crude oil jumped the most in two weeks on signs output may contract from two nations accounting for about 9 percent of OPEC production. Prices remain near a five-year low, and the United Arab Emirates said the 12-nation group won’t rein in production in response to the slump.

Fighting stopped exports from Libya’s largest and third-largest crude ports and halted some fields, state-run National Oil Corp said. Workers at Nigerian oil platforms and shipping terminals began an indefinite strike that will soon affect production, according to a union spokesman. OPEC won’t cut output even if prices fall as low as $40 a barrel, U.A.E. Energy Minister Suhail Al-Mazrouei said.