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The energy ministers of the most influential OPEC+ producers presented a united front on Thursday, seeking to allay market concerns about oversupply and saying that the oil production plans unveiled this weekend could always be amended or reversed. The OPEC+ group extended this weekend most oil output reductions into 2025. But it also said it could begin ...
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Singapore-based oil and commodities trading powerhouse Trafigura Group has posted the smallest profit since the 2020 oil crisis as volatility in energy markets hit new lows. Trafigura’s net profit dropped to $1.47 billion in the six months through March, good for a 73% decline from a record $5.5 billion posted a year earlier. The company’s revenue fell 5.4% ...