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Lower Supplies Boost Oil Prices, With Demand Expected to Grow

Oil prices rose above $50 a barrel Thursday for the first time this year, following a report the oversupply of oil is easing in the United States. Oil prices have plunged during the past year, hurting oil exporting nations and petroleum companies, which cut jobs and investments in the oil industry. Economists say the damage to demand in the economy was larger than expected, while the boost to consumers from lower gasoline prices had less impact than experts...

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