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Oil prices are expected to continue falling due to oversupply, with the head of the International Energy Agency stating that weak demand and increased production from non-Opec countries will put downward pressure on prices. Despite geopolitical tensions and production shutdowns, oil demand growth has slowed, particularly in China, where the shift towards clean energy and electric vehicles has impacted fossil fuel demand. Lower oil prices may lead to a demand rebound next year, but excess supply from non-Opec producers will continue to pose challenges for the market.
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