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Energy Down As Oil Sees Biggest Slide Since April — Energy Roundup

Provided by Dow Jones Jul 19, 2021 8:30 PM UTC Shares of energy companies plunged alongside oil futures, which saw one of their biggest losses in recent years because of supply and demand fears. New-York traded oil futures fell 7.5% to just above $66 a barrel, the biggest drop since April 2020, amid fears that OPEC+ supplies will increase just as the latest wave of Covid outbreaks crimp demand. The Organization of the Petroleum Exporting Countries and its Russia-led oil-producing allies agreed to release millions of barrels of bottled-up crude over the next two years, committing to restore all the cuts they made at the start of the Covid-19 pandemic.

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