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OPEC+'s rapid production return has added pressure despite Fed rate cut optimism.
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'It looks like we are now moving into a bit of a different market,' Torbjorn Tornqvist, chief executive officer of Gunvor Group, said in an interview in London.
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Occidental Petroleum Corp. Chief Executive Officer Vicki Hollub said she is 'very bullish on oil prices, not this year or next, but I'm bullish on oil prices'.
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More than 100 UK energy supply chain companies have called for Energy Profits Levy reform, industry body Offshore Energies UK announced.
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Analysts and trading executives warn that oil could slide further into the $50s range amid contango and slowing demand.
