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OIL PRICES RISE, BUT STILL SET FOR WEEKLY DROP ON OVERSUPPLY,TRADE WORRIES

"Despite the international oil markets being well balanced in the third quarter, there will still be substantial stock draws due to robust demand and seasonality factors in the second half," Al-Aama said in a statement.

He also said concerns that Saudi Arabia and its partners are moving to substantially oversupply the market are "without basis".


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