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Oil prices dipped on Thursday, weighed down by plentiful supply despite ongoing efforts led by OPEC to tighten the market by cutting production.
Brent crude was down 18 cents, or 0.3 percent, from its last close at $52.03 per barrel at 0244 GMT.
U.S. West Texas Intermediate (WTI) crude was down 16 cents, or 0.3 percent, at $48.91.
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