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US crude falls into bear market as growing oil output points to oversupply

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Oil rose on Thursday, recovering modestly from this week's three-week lows, after record Chinese crude imports soothed some concern that demand in the world's largest commodity buyer may be flagging just as global supply is rising.

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We have been over supplied for the last 6 yrs .

Iran who? Russia is really going to need extra oil.

Excellent timing to squeeze Iran all the more with sanctions

Again I say, selfishly I suppose, I am soooooo loving low pump prices. I'll bet those just trying to get to their jobs would agree.

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