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Market Update: Gasoline Stays Near $2.1
US gasoline futures traded around $2.1 a gallon, as offshore oil and gas production in the Gulf of Mexico gradually recovers. Also, the official Energy Information Administration data showed US gasoline stocks rose by 1.29 million barrels last week, against forecasts of a 1.633 million decline. On the supply side, OPEC+ agreed to continue a policy of phasing out record production reductions by adding 400,000 barrels per day each month until the end of December, despite pressure from the US to pump more. [/s2If]
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