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Oil Trading Alert: Will Crude Oil Test Barrier of $50?

January 11, 2017, 7:49 AM Nadia SImmons

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On Tuesday, the black gold extended losses after the U.S. Energy Information Administration revised its 2017 U.S. crude oil output and said that crude production will rise to 9.3 million bpd next year. This news renewed fears about the supply glut and pushed light crude under important support levels. Will crude oil test the barrier of $50 in the coming days?

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