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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.
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'Mounting concerns of a global supply surplus weighed on the market', said Daniel Takieddine, Co-founder and CEO of Sky Links Capital Group.
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North America added one rig week on week, according to Baker Hughes' latest North America rotary rig count.
