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Crude oil dipped on signs that global fuel markets remained

Crude oil dipped on signs that global fuel markets remained

Crude oil trading range for the day is 3491-3637. Crude oil dipped on signs that global fuel markets remained bloated despite OPEC-led crude production cuts. OPEC: January oil output falls 890,000 bpd month to 32.14 mbpd as group implements supply cut deal OPEC report implies global oil market will see zero average surplus in 2017 vs 985,000 bpd surplus implied in previous report.

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