Oil prices pare earlier gains as OPEC+ works on output cut agreement
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NEW YORK (Reuters) - Oil prices were up about 2% on Thursday, pulling back from an earlier surge as OPEC and other crude producers work on a deal to drastically cut output in response to a collapse in global demand from the coronavirus.A worldwide lockdown to slow the spread of the coronavirus pandemic has cut fuel demand by roughly 30%, and contributed to a crash in prices that took major benchmarks down by more than two-thirds. Prices surged over 10% earlier on Thursday as producers appeared..