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Cheaper oil buoys consumers hammers producers
Oil prices stay low after OPEC kept output steady, boosting motorists and fuel users while squeezing producers and workers. US output rose to 9.3 million bpd in 2015, creating a global supply surplus. Gasoline dips below $2 per gallon at many stations, diesel cheaper than last year, and majors see lower profits while independents suffer more.
MENTIONED IN THIS ARTICLE
Dallas
OPEC
Exxon
Chevron
Uss
Judith Dworkin
ITG Investment Research
China
Japan
Europe
AAA
GasBuddy.com
Tom Kloza
Oil Price Information Service
Exxon Mobil Corp
Chevron Corp
Fadel Ghett
Oppenheimer