The debt ceiling bill proposed after talks between President Biden and House Speaker Kevin McCarthy cleared the first hurdle, with the House of Representatives giving it broad bipartisan support. With 314 votes for and117 against, the supporters of raising the U.S. debt ceiling further still are in the clear majority. The next hurdle to be cleared is the Senate. Should the bill pass there, too, the U.S. federal government will once again narrowly avoid defaulting on its debt and the prospects of oil demand growth in the world’s largest consumer…
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