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Oil prices slipped on Monday, pulled down by rising Russian production and the highest U.S. drilling activity in more than three years but supported by concerns over future Iranian and Venezuelan output.
Analysts expect higher U.S. output to offset supply curbs by the Organization of the Petroleum Exporting Countries, which have been in place for 18 months and have pushed up prices significantly over the last year.
Benchmark Brent crude (LCOc1) was down 15 cents at $76.31 a barrel by 0915 GMT. U.S. light crude (CLc1) was 10 cents lower at $65.64.
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