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Oil price rally skids into reverse as US shale returns

“The oil price rally has swung into reverse amid signs that US shale is surging” writes Jillian Ambrose for Its latest monthly report forecast that oil demand would grow by 1.59 million barrels a day this year, around 60,000 barrels higher than its previous forecast.However the Vienna-based group warned that oil producers outside the cartel were likely to boost their output by more than expected, too.

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