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Businesses and governments kept energy prices from skyrocketing during the Iran war by using a just-in-time delivery system with digital and satellite technology, reducing the need to stockpile oil. China cut imports from over 11.5 million barrels per day to below 7 million, lowering global demand by almost 5 million barrels daily. The U.S.
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Summary by ByteBrief
OPEC+ raises oil output as glut fears grow