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On Wednesday, crude went down in early trade, squeezed between worries of oversupply, spurred by ascending Libya output as well as fears of reduced future investment in the crude industry.
Brent crude futures hit $51.61 a barrel, declining 0.5% from their previous close.
West Texas Intermediate crude futures reached $47.63 a barrel, sliding 0.4%.
According to Bernstein Research, low crude prices along with ample supplies were resulting in relatively low crude industry investment levels.
On Tuesday, Libya's Sharara crude field was gradually resuming its work after a shutdown.
Sharara recently hit output of approximately 280,000 barrels per day. However, it closed earlier this month because of a pipeline blockade.
Libya's ascending output turns to be a real headache for OPEC that along with non-OPEC crude producers, such as Russia has promised to hold back approximately 1.8 million bpd of supplies between January 2017 as well as March 2018 for the purpose of tightening supplies.
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On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…
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