Oil heads for 7th weekly loss as supply surplus, weak China demand weigh on market

Oil heads for 7th weekly loss as supply surplus, weak China demand weigh on market

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Oil benchmarks were headed for a seventh straight weekly decline on worries over a global supply surplus and weak Chinese demand, although prices recovered ground on Friday after Saudi Arabia and Russia called for more OPEC+ members to join output cuts. futures rose $1.29, or 1.7%, to $75.34 a…

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