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Oil futures tally a third monthly gain in a row

Por: MarketWatch Business August 31, 2023

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Price action Market drivers A summer rally for oil, attributed in part to production cuts that saw Saudi Arabia voluntarily reduce production by 1 million barrels a day beginning in July, stalled in August on worries over the global economic outlook. Soft Chinese economic data and concerns about the country’s ailing property sector raised doubts about demand from the world’s second-largest crude consumer. However, Saudi Arabia is widely... + full article



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