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Strong oil prices will ally with increasing crude output by Saudi Arabia to boost its net foreign assets by more than US$94 billion through 2011 to reach their highest ever level at the end of the year, according to the IMF.

Libyas rebel government will honor all energy contracts granted legally under Muammar Qaddafis 42-year rule and work to restore oil output to prewar levels within a year, said rebel reconstruction leader Ahmed Jehani.

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