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Oil down again as soaring US supply threatens to overwhelm OPEC cuts
American supply continues to stymie OPEC’s best efforts to hold oil prices up by reducing production
Oil prices fell again today, to $49.35 for WTI from $53.45 on April 11, as the count of US operating rigs continued to rise.
Booming American supply threatens to overwhelm OPEC’s ability to hold oil prices up by reducing production.
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