Higher oil prices will continue over the next two quarters, despite the trough

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Workers extracting oil from oil wells in the Permian Basin in Midland, Texas on May 1, 2018.

Benjamin Lowy | Getty Images

Workers extracting oil from oil wells in the Permian Basin in Midland, Texas on May 1, 2018.

Oil prices slid Wednesday morning, interrupting a recent recovery by news of a sharp rise in US crude inventories released by the American Petroleum Institute late Tuesday.

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