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Oil Advances as Abu Dhabi Sees $60 Crude on Shrinking Surplus

Oil advanced as Abu Dhabi forecast prices could climb as high as $60 a barrel amid a glut that’s dwindling more quickly than projected. Futures rose as much as 1.3 percent in New York and London. The global surplus is down to 1.2 million to 1.5 million barrels a day and has contracted faster than expected, Ali Majed Al Mansoori,… (more…)