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MARKETS

'Fake news' hits offshore hard

THE offshore rig market shakeup will be like “nothing we’ve seen before” with owners prepping for a major restructuring amid the worst bear market in seven months, but Raymond James says “fake news” caused the downfall and tips that the oil price will return to $US65/barrel.

Anthony Barich
'Fake news' hits offshore hard

Brent sank to $US47.58 on Friday, still up from $44.77 it reached on June 22, the lowest point the market reached since last November.   Raymond James invoked one of US President Donald Trump's favourite...

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