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OverviewAPI
Oil inventories unexpectedly jumped by 594,000 barrels last week, raising concerns about a potential global crude supply surplus following weaker-than-expected pledges to cut output by major oil producers. The unexpected increase raises worries about non-OPEC supply offsetting recent output-cut pledges by OPEC and its allies. Gasoline inventories also rose by 2.8M barrels, while distillate stocks decreased by 89,000 barrels.

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