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Chart of the Day: Oil Prices Over The Past Year

 1 min read / 

Oil prices tumbled as the glut of global crude supplies showed no signs of easing. But rising hopes that primary producers may finally begin curtailing their drilling has helped lift oil prices in the past two weeks. According to some reports, there may be “meaningful signs” of shale production balancing in the second half. The combination of continued demand growth and falling production could eventually help create a floor in the market from where prices will be able to rally back in the medium term.

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