Sunday 28 May 2017
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Oil-rig count rises for 18th straight week

The US oil-rig count rose by eight to 720this week, according to oilfield services giant Baker Hughes.This extended the longest streak of rig additions since 2011, one week out to a crucial OPEC meeting that could impact global production levels.The Organization of Petroleum Exporting Countries and other key producers will meet next week Friday to decide whether to extend theagreement reached last November to lower output.After the data release on Friday, the June contract for West Texas Interme

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