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Crude Oil Report: Iranian Output Falls To 20-Yr Low, But OPEC Output Surges Thanks To Iraq, Libya & Saudi Arabia
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Turning to this week’s EIA inventory figures, total petroleum inventories in the U.S. rose by 1.9 mmbbl, against the five-year average of a 7.4 mmbbl increase. In turn, the inventory surplus fell to 35 mmbbl, or 3.4 percent.
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