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Oil prices dip on lower Chinese crude imports
But traders say overall market remains well supported because of Opec-led supply cuts
China's October oil imports fell sharply from a near record-high of about nine million bpd in September to just 7.3 million bpd, data from the General Administration of Customs showed on Wednesday.
PHOTO: REUTERS
Singapore
OIL prices fell on Wednesday as Chinese crude imports slipped to their lowest level in a year, although traders said the overall market remains well supported because of Opec-led supply cuts.
Traders said they were closely eyeing escalating tensions in the Middle East,
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