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U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are edging higher on Friday on the thought that the sell-off earlier in the week may have been a bit overdone and as concerns over lower crude production in Libya offset expectations that rising coronavirus cases in India and Japan would cause energy demand to decline.
At 12:07 GMT, June WTI crude oil is trading $61.57, up $0.14 or +0.23% and June Brent crude oil is at $65.41, up $0.01 or +0.02%.
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Libya said its oil production fell to about 1 million barrels per day in recent days and could drop further due to budgetary issues.
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