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Oil Trades Below $45 as U.S. Drillers Extend Record Rig Streak

Ben Sharples
Oil Trades Below $45 as U.S. Drillers Extend Record Rig Streak

Oil traded below $45 a barrel after a fourth weekly loss on speculation that a record expansion by U.S. drillers will blunt OPEC-led efforts to rebalance an oversupplied market.