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Oversupply and weak demand drag energy prices down

The most significant event in global energy markets over the last month was the biannual OPEC meeting, where the cartel confirmed that it would maintain the current output quota of 30 million barrels per day. Elsewhere, the rally in US natural gas prices came to an abrupt end as investors took profits, causing prices to give up all their previous gains. Coal prices continued to fall as Chinese imports declined again.

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