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Energy industry may witness a wave of mergers and acquisitions (M&A) that could stabilize the oil supply in the long-term, according to Sam Margolin, the Managing Director of Wolfe Research.

Speaking on CNBC’s ‘Power Lunch’, Margolin highlighted the challenging environment for the energy industry currently, as it is not defensive, and the banking crisis could push oil prices further down.

However, he also noted that there were some positive signs of oil demand recovery before

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