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PARIS: After long years of punishingly low oil prices, the global oil market is moving closer to reaching a healthy balance between supply and demand, Opec said on Thursday. In its monthly oil market report, the Opec said there were “growing indications that the oil market is heading smoothly toward rebalancing.” Prices were being buoyed by lower crude oil stocks, healthy demand and geopolitical tensions, the cartel said. Oil prices have risen in recent months, after Opec and a clutch of countries outside the cartel struck a landmark deal at…
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