BLOOMBERG.COM
Oil rose in a bull market after data showed a surprise decline in U.S. crude stockpiles, taking OPEC and its allies closer to a goal of reducing a global glut. Futures added as much as 1.4 percent in New York after rising 0.5 percent Wednesday. Crude inventories fell by 1.85 million barrels last week after analysts surveyed by Bloomberg forecast an increase. U.S. exports jumped 61 percent to 1.49 million barrels a day, the Energy Information Administration reported. In Libya, production neared the 1 million-barrel-a-day mark as disruptions eased.
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Oil rose in a bull market after data showed a surprise decline in U.S. crude stockpiles, taking OPEC and its allies closer to a goal of reducing a global glut. Futures added as much as 1.4 percent in New York after rising 0.5 percent Wednesday. Crude inventories fell by 1.85 million barrels last week after analysts surveyed by Bloomberg forecast an increase. U.S. exports jumped 61 percent to 1.49 million barrels a day, the Energy Information Administration reported. In Libya, production neared the 1 million-barrel-a-day mark as disruptions eased.
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