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Crude oil market Updates for 21 Feb 2017

Crude oil market Updates for 21 Feb 2017

Crude oil trading range for the day is 3594-3656. Crude oil gained as prices remained supported amid efforts by producers to cut output and bring the market into balance. U.S. energy companies added oil rigs for a fifth consecutive week, Baker Hughes said, extending a nine-month recovery. Overall, 2017 U.S. production will rise by an average 130,000 bpd from a year ago, the note said.

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