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In the commodities complex, oil has continued its upward trend in recent trade which is being attributed to continuing geopolitical tensions in Syria alongside the OPEC Sec Gen stating that the price of oil will be higher than current levels in a few months’ time. Furthermore, recent strength has also been linked to Friday's Baker Hughes rig count, which posted the lowest level since May'02 with additional comments today from IEA's Birol stating that US oil output is set to decline by 400,000bpd in 2016.
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