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Oil price sees largest annual increase since 2016

2019 as a whole has seen the biggest increase in oil prices since 2016. Toward the end of the year, prospects of an imminent trade deal between the US and China as well as further OPEC cuts in particular contributed to raising prices.

Photo: NICK OXFORD/REUTERS / X03416

Oil prices dipped a bit Thursday morning CET compared to Monday's levels when the financial market closed.

In the past few months, however, prices rose, and the whole year 2019 saw the largest price increase since 2016.

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