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Oil prices dip on stronger US$, rig count rise

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Published Sun, Oct 16, 2016 · 09:50 PM

    New York

    OIL prices fell slightly on Friday as traders balanced a stronger US dollar and another increase in the US oil rig count against expectations that more Opec talk of output cuts will keep crude above US$50 per barrel.

    The US dollar posted its best weekly performance in more than seven months against a basket of currencies, weighing on prices of greenback-denominated commodities, including crude oil.

    Oil prices

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