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World oil demand growth continues to lose momentum, according to the International Energy Agency (IEA), with first quarter 2024 growth of 1.6 million bbls/d, 120,000 bbls/d below the previous forecast due to “exceptionally weak OECD deliveries,” it noted in its April oil report.
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U.S. producers seeking greater scale in core operating areas drove global upstream M&A to $56 billion in Q1.
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