Oil dips as North American output soars; overall market remains strong:
"Oil prices dipped on Monday as soaring North American production was seen undermining efforts led by OPEC and Russia to tighten supplies.
Despite this, traders said overall market conditions remained strong due to the production cuts and healthy demand-growth.
Brent crude futures held above $70 per barrel, but were down by 19 cents from their last close at $70.34 a barrel at 0749 GMT."
'via Blog this'
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