Oil Supplies Rise In U.S. While Prices Fall – 1 August, 2017
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With an abundant U.S. fuel supply, crude is being pulled back below $50 per barrel. Despite its pledge to cut exports by 1.8 million barrels per day, production by OPEC hit a high of 33 million barrels per day in 2017. The high supplies from OPEC is weighing on international prices.