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The oil market’s heavy hitters remain far from consensus

Historians will likely see March as one of the defining months in the oil industry’s history; it ended with the benchmark US West Texas Intermediate trading near an 18-year low, under $20 a barrel (/bbl), while Brent futures stood at $22.74/bbl for May and $26.35/bbl for June. US onshore production was falling, as hoped for by feuding Organisation of the Petroleum Exporting Countries (Opec) and non-Opec leaders, Crown Prince Mohammed Bin Salman (MBS) and President Vladimir Putin.

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