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Crude oil dropped amid growing evidence of a revival in U.S. shale production

Crude oil dropped amid growing evidence of a revival in U.S. shale production

Crude oil trading range for the day is 3436-3618. Crude oil dropped amid growing evidence of a revival in U.S. shale production and sluggish demand. Crude inventories rose by 14.2 million barrels in the week to February 3 to 503.6 million barrels, the API data showed. Crude oil exports from southern Iraq in January fell to 3.275 million barrels per day (bpd) from 3.51 million bpd in December.

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