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Thursday, October 6, 2022

Expensive oil due to tight supply: energy secretary

WASHINGTON (Reuters) - U.S. Energy Secretary Sam Bodman told Congress on Thursday that crude oil prices have reached record-high levels of $135 a barrel because global oil production has failed to keep up with demand.

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WASHINGTON (Reuters) – U.S. Energy Secretary Sam Bodman told Congress on Thursday that crude oil prices have reached record-high levels of $135 a barrel because global oil production has failed to keep up with demand.

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