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Oil slips under $57 as IEA sees bigger glut

Oil fell below $57 a barrel on Friday after the International Energy Agency said a global oil glut was building and US oil production showed no signs of slowing yet. The IEA, which advises industrialised countries, said in its mon

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Adnoc sells naphtha below market rate from Ruwais

Abu Dhabi National Oil Co (Adnoc) has sold about 125,000 tonnes of naphtha to Vitol at premiums that were at least $10 below the market rate of $28 a tonne to Middle East quotes on a free-on-board (FOB) basis, traders said on Friday.

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