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02 Sep 2024

Crude oil falls again

Crude oil continued its downward movement in the first session of September on Monday, affected by weak demand from China and the U.S., along with increasing market expectations that the OPEC+ alliance will ease voluntary production restrictions. In this regard, some news reports indicated that the Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+) plan to increase crude oil production in October, with eight members of the alliance likely to raise production by 180,000 barrels per day

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