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Oil slumps 2.8%, closing at $44.23, on worries about high US output, OPEC exports


oil slumps
Oil prices fell nearly 3 percent to close just above $44 a barrel.

Weekly U.S. government data showed on Thursday that U.S. oil production rose one percent to 9.34 million barrels per day.

The rise in U.S. output coincides with OPEC exports climbing for a second consecutive month in June.

-News from www.cnbc.com
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