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Rising supply from the United States and OPEC sent oil prices down today. Benchmark Brent crude oil futures LCOc1 were priced at $77.43 per barrel, declining by 0.3%. US West Texas Intermediate (WTI) crude futures CLc1 were trading down by 0.3%, at $69.62 per barrel. A Reuters’ survey indicated 220,000 bpd rise in OPEC’s crude production for last month. Meanwhile, BHGE reported addition of oil rigs in US.
