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Monday, 13 February 2017

Oil stable as OPEC's cuts bite, although bloated market still weighs | Reuters

Oil stable as OPEC's cuts bite, although bloated market still weighs | Reuters:

"Oil prices were stable on Monday on signs that OPEC-led production cuts were reducing global overproduction, although bloated inventories and rising output elsewhere were weighing on markets.

Brent crude futures were trading at $56.72 per barrel at 0752 GMT, up 2 cents from their previous close.

West Texas Intermediate (WTI) crude futures were down 2 cents at $53.84 a barrel."



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