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Oil slips away from 2014 highs, though overall 2018 outlook remains firm


Oil prices on Friday slipped away from December-2014 highs reached the previous day.Although analysts and traders have been warning of the risks of a downward price correction since the start of the year, they point out that overall market conditions remain strong, largely due to ongoing production cuts led by the Organization of the Petroleum Exporting Countries (OPEC) and Russia.US West Texas Intermediate (WTI) crude futures were at $63.41 a barrel at 0650 29 cents, or 0.6 per cent, below their last settlement. WTI the day before hit its strongest since late 2014 at $64.77 a barrel.
Source: Latest News

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