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Hedge Funds Bet Oil Rally to Extend Into 2017 as Output Cuts Hit

EghtesadOnline: Investors are showing no sign of turning their backs on oil heading into 2017. Money managers’ wagers on rising West Texas Intermediate crude prices are triple what they were at the end of 2015, and are the highest since the start of the crude market crash 2 1/2 years ago.
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Publish Date:31/December/2016 | 13:39

Oil down, but ends year with biggest gain since 2009

EghtesadOnline: Oil prices settled slightly lower on Friday, the year's last trading day, but attained their biggest annual gain since 2009, after OPEC and partners agreed to cut output to reduce a supply overhang that has depressed prices for two years.
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Publish Date:31/December/2016 | 04:55

OPEC Deal Makes Oil Investors Most Bullish Since Slump Began

EghtesadOnline: Investors are the most optimistic on oil since the slump began two and a half years ago. Money managers boosted bets on rising West Texas Intermediate crude prices to the highest level since July 2014 after the Organization of Petroleum Exporting Countries and producers outside the group agreed to coordinate crude production cuts
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Publish Date:19/December/2016 | 06:38

Saudi Oil Minister Sees Commitment to Cuts Ending Glut in Months

EghtesadOnline: OPEC and other major oil producers are committed to a “high level of compliance” with their agreements to cut output, and the shared strategy will balance the market in 2017, Saudi Oil Minister Khalid Al-Falih said.
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Publish Date:17/December/2016 | 07:00

How Global Oil Flows Might Look After OPEC’s Supply Shock

EghtesadOnline: OPEC’s quest to end a global crude glut already snapped a two-year slump in oil prices. Now attention is turning to how the group’s surprise decision to cut output will transform international trade flows of the world’s most important commodity.
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Publish Date:17/December/2016 | 06:46

Oil prices fall on rising U.S. crude stocks, OPEC output concerns

EghtesadOnline: Oil prices fell on Wednesday following a reported rise in U.S. crude inventories and an estimate that OPEC may have produced more crude in November than previously thought, potentially undermining a planned output cut.
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Publish Date:14/December/2016 | 24:11

Oil Soars as Output Deal Weighs on Bonds; China Shares Tumble

EghtesadOnline: Crude oil surged to the highest in 17 months amid efforts to cut production, pushing up the outlook for global inflation and sending 10-year Treasury yields above 2.5 percent for the first time since October 2014. Chinese equities tumbled.
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Publish Date:12/December/2016 | 14:10

Russian Energy Minister Says Oil Cuts to Start in January

EghtesadOnline: Russia’s oil producers have started preparations to meet the nation’s pledge to curb output as part of the “historic” pact between OPEC and 11 producers outside the group, Energy Minister Alexander Novak said.
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Publish Date:12/December/2016 | 13:54

Oil surges after output cuts, strong dollar weighs

EghtesadOnline: Oil prices jumped to their highest levels in a year and a half on Monday after OPEC and non-OPEC producers agreed to cut oil output to ease a global glut, while the U.S. dollar extended gains before a Federal Reserve meeting this week, at which a rate hike is widely expected.
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Publish Date:12/December/2016 | 05:21

OPEC, non-OPEC agree first global oil pact since 2001

EghtesadOnline: OPEC and non-OPEC producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices that overstretched many budgets and spurred unrest in some countries.
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Publish Date:11/December/2016 | 05:32

Saudis Signal Deeper Cuts After Deal With Non-OPEC Countries

EghtesadOnline: Saudi Arabia signaled it’s ready to cut oil production more than expected, a surprise announcement made minutes after Russia and several non-other OPEC countries pledged to curb output next year.
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Publish Date:11/December/2016 | 05:26

Saudi Arabia Starts Telling Refiners Oil Supply Will Be Cut

EghtesadOnline: Saudi Arabia has started to tell its customers it will reduce crude shipments from January, with the curbs focused on Europe and North America while Asian refineries are so far largely spared.
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Publish Date:10/December/2016 | 13:07

OPEC Meets With Non-OPEC Counterparts for Oil Cuts Deal

EghtesadOnline: The Organization of Petroleum Exporting Countries is meeting with countries outside the group in Vienna on Saturday to agree on a pact to curb oil supply and drain record global stockpiles.
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Publish Date:10/December/2016 | 13:05