Oil Hit by Stronger Dollar, Increase in U.S. Crude Stocks

Oil prices are drifting lower Thursday on a stronger dollar and an unexpected increase in U.S. crude inventories. The fall comes after a rally in recent sessions fueled by production outages in Africa and Canada. Production declines across the globe have propelled expectations of shrinking the global oversupply, but many countries are still pumping at a near-record pace and keeping stockpiles near record highs.
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