The phrase: "O cinto é caro, portanto eu não o compro"

Why is it “o compro”? Why the article and why the conjugation of “camprar” to “compro”

Did I miss something in the lessons?

The second “o” refers back to “o cinto”, and compro is the 1st person singular (i.e., to be used for “eu”) conjugation of comprar.

Word by word, the full sentence translates to “the belt is expensive, therefore I not it buy”.

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@jonjacobmoon, as Tomas said, the verb is conjugated according to the subject, and the second o is used in place of cinto to avoid the repetition of the word. So, the second o works as a direct object pronoun, whereas the first o is simply a definite article.