Oil is up on Saudi output promise and declining US stocks

📆 13/02/2019 21.51.00
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Output is still likely to outstrip demand this year, despite Opec’s cuts of 800,000 bdp in January alone, and US sanctions on Iran and Venezuela

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Increase in US stocks puts pressure on oilBrent falls as production levels in the US remain at record levels, but Opec-led supply cuts and sanctions against Venezuela support markets
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