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Crude Oil Dropped Amid Increased Oil Production From Non-OPEC+ Countries.

Crude oil faced a decline of -1.46%, settling at 64.59, predominantly influenced by increased oil production from non-OPEC+ countries, with the United States playing a pivotal role. Lingering concerns over China’s economic growth further contributed to the challenges confronting the oil market. However, Federal Reserve Chair Jerome Powell’s indication of potential interest rate adjustments offered a glimmer of hope, bolstering the outlook for global growth and, consequently, energy demand. 

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