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WTI & Brent both trade ~$0.30 lower at..........>

OIL
OIL: WTI & Brent both trade ~$0.30 lower at writing, in what has been a
relatively lacklustre Asia-Pacific session for crude.
- Wednesday saw crude struggle on the back of the weekly DOE inventory data,
which indicated that U.S. drillers pumped a record 11.9mn bpd in the most recent
week covered by the data, while gasoline stockpiles climbed twice as much as
exp.. Elsewhere Saudi Arabia cut its oil exports to the U.S. However, crude
closed slightly higher Wednesday, garnering a bid after Russian Dep Energy
Minister Sorokin announced that his country will meet the OPEC+ targets for
limiting crude output by April.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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