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Oil prices slump on bloated US fuel inventories, stalling China demand - Reuters
Reuters | Oil prices slump on bloated US fuel inventories, stalling China demand Reuters SINGAPORE Oil prices dropped on Wednesday to extend falls from the previous day, as a massive increase in U.S. fuel inventories and a slump in Chinese demand implied that global crude markets remain oversupplied despite OPEC-led efforts to cut output. Global oil glut disappearing faster than expected Oil prices slide after API reports 14.2 million barrel US crude stockpile increase; gasoline stocks also rise Oil Extends Slump as API Said to Report Surge in Stockpiles |
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