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“The rebound in prices is probably a vindication of the OPEC policy of the past two years, although the trajectory for the balance of the year is likely to remain very volatile,” said the managing director of the DME. (File photo)

June 8th, 2016 - 08:00 GMT

Oman crude oil prices jump nearly 100 percent from January lows

Prices have rebounded from $23.72 per barrel in January to $47.16 per barrel, due to falling shale output in the US and a number of production outages around the world.