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Texas seen as biggest winner as oil outlook improves
The announcement this morning on OPEC cuts is certainly near-term positive, Newfield Exploration's chairman and chief executive officer Lee Boothby said. California Resources and Oasis Petroleum were among the day's biggest gainers, posting advances of more than 25 per cent each. The S&P 500 Energy Sector Index jumped to the highest since July 2015, led by Devon Energy, Marathon Oil and Murphy Oil. Halliburton, which helps explorers drill and frack wells, climbed 13 per cent, its biggest advance since 2009.
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