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European Oil Stocks Decline: European oil stocks are experiencing a decline in opening trade due to concerns over oversupply, with Brent crude prices falling 0.7% to $65.93 a barrel.
Impact of U.S. Inventory Build: A surprise inventory increase of 3.9 million barrels in the U.S. last week, along with OPEC+ plans to boost production, is heightening traders' worries, leading to drops in shares of major oil companies like BP, Shell, TotalEnergies, Repsol, and Eni.
