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Oil lower after jump in U.S. crude stocks

Published 22/12/2016, 13:35
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Investing.com - Oil was lower Thursday after an unexpected rise in U.S. crude stocks.
Brent crude shed 29 cents, or 0.63%, to $54.17 at 08:00 ET. U.S. crude lost 29 cents, or 0.55%, to $52.20.
Official Energy Information Administration weekly figures Wednesday showed a rise in U.S. crude inventories of 2.256 million barrels.
Crude stockpiles were forecast to have fallen by 2.515 million barrels.
OPEC has agreed to cut output by 1.2 million barrels a day and non-OPEC producers by 558,000 barrels.
Libya is aiming to add 270,000 barrels a day to its production after reopening pipelines to major fields.
The dollar index was lower. A weaker dollar boosts demand for oil.

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