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DEC 06, 2013 - San Francisco Chronicle

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Oil higher after stronger US economic jobs report

Analysts at Commerzbank in Frankfurt noted that storms and cold weather were hampering oil production in the North Sea as well as in North Dakota and Texas. "Because of their shale oil reserves, the two U.S. states together account for the lion's share of this year's growth in U.S. oil production," the Commerzbank analysts said in a note to clients. The lower oil production is likely to bring about a decline in U.S. crude oil stocks.

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