UPDATE 2-Oil drops as Saudi output nears record, China demand worries drag

* China PMI falls below 50 points * Saudi output near record highs * Crude oversupply of 2 mln barrels per day seen in Q2 -FGE * Refinery margins to deteriorate in second half of year -FGE (Adds comment, updates prices) By Henning Gloystein SINGAPORE, March 24 (Reuters) – Oil prices dropped on Tuesday after activity in China’s factory sector […]

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