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Tuesday, 20 June 2017

Oil Halts Slide as Investors Weigh U.S. Stockpiles Against Libya - Bloomberg

Oil Halts Slide as Investors Weigh U.S. Stockpiles Against Libya - Bloomberg:

"Oil halted its slide below $45 a barrel as investors weigh a forecast decline in U.S. crude stockpiles against a revival in output from Libya, which is exempt from the OPEC-led cuts.

Futures rose 0.3 percent in New York after falling 1.2 percent Monday. U.S. inventories probably shrank by 1.2 million barrels last week, according to a Bloomberg survey before Energy Information Administration data Wednesday. Libya is pumping the most oil in four years after a deal with Wintershall AG enabled at least two fields to resume production."



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