Strong OPEC+ output compliance could push oil to $70 by second quarter - BofA
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(Reuters) - Strong compliance by OPEC and its allies with a deal to curb oil production and positive economic developments, including a U.S.-China trade deal, could push Brent to $70 a barrel before the second quarter of 2020, BofA Merrill Lynch said. Oil producers led by Saudi Arabia and Russia, part of a group known as OPEC+, agreed last week to cut output by an extra 500,000 barrels a day in the first quarter of 2020 but stopped short of pledging action beyond March."Iraq remains a key..