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Saudi Arabia and its allies “appear united in their refusal to cut output to boost global oil prices, [but] they are becoming locked in an increasingly fierce battle to secure market share in Asia,” reports Reuters.

Since prices have dipped below $50 per barrel, the outlet adds, producers are fighting to “secure customers in Asia.” Read more.

Also check out:

Fewer active oil rigs in the U.S.

How hard will oil prices hit Alberta’s economy

Oil got you down? Consider metals

Originally published on Advisor.ca

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