Oil pulls back from 4-month highs amid economic growth concerns

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    Oil pulls back from 4-month highs amid economic growth concerns

    Oil prices dipped on Wednesday, retreating from a four-month high as economic growth concerns dampened the outlook for fuel consumption

    However, analysts said oil was still well supported by voluntary supply cuts led by producer club OPEC and U.S. sanctions against Iran and Venezuela

    The shaky supply outlook with regard to Venezuela and Iran, as well as the petro-nations’ output restrictions are top of mind in the oil market

     

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