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Oil Update — Oil slides; Bisat oilfield's plant begins operations; Ranger Oil explores sale

RIYADH: Oil dropped by about 2 percent on Friday, logging a second weekly decline, due to concern about weakened demand in China and further increases to US interest rates. Brent crude settled at $87.62 a barrel, falling $2.16, or 2.4 percent. US West Texas Intermediate crude settled at $80.08 a barrel, losing $1.56, or 1.9 percent. Both benchmarks posted weekly losses, with ....

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