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The global oil market, a critical element of the world’s economic engine, is currently at a pivotal junction. Recent events have caused dramatic shifts, impacting both supply and demand dynamics. The U.S. West Texas Intermediate crude futures recently bucked their steady climb, with numerous indicators pointing to demand fluctuations in the near future. A Tug of War Between Major Producers The ripple effects of decisions made by Saudi Arabia and Russia, two of the largest oil exporters globally, are hard to ignore. Their recent move to extend voluntary…