Nymex’s crude oil fell 1.27% to US$44.18 per barrel in Asian trading this morning. Shlumberger (SLB)’s CEO Paal Kibsgaard noted on Friday last week that global markets were headed for a significant supply deficit, assuming steady growth in energy demand. In the Middle East, he noted that Kuwait and the UAE planned to increase production, while Saudi Arabia sought to maintain maximum sustainable levels.

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