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Tag Archives: ‘Surprise

U.S. drillers added oil rigs for the 17th straight week

Oil prices settled slightly higher on Friday as lower U.S. crude inventories and increasing support for continued OPEC-led production cuts inspired hope that the global supply glut can be reduced. “Owing to the rapid recovery in U.S. oil production, OPEC obviously only has limited influence on prices via supply curbs,” …

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