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2015-06-24 13:01:09 (FILES) This June 24, 2015 file photo shows pumping Jacks at the Chevron section of the Kern River Oil Field near Bakersfield, California. US crude oil closed nearly nine percent higher August 31, 2015 as the government lowered its domestic crude production estimate and OPEC signaled concern about multi-year low prices. US benchmark West Texas Intermediate for October delivery jumped $3.98 (8.8 percent) to $49.20 a barrel on the New York Mercantile Exchange. It had rebounded more than 11 percent over the five previous sessions, its biggest increase in four and a half years. AFP PHOTO / MARK RALSTON / FILES AlgemeenMarktanalyse

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