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Iraq’s Southern Oil Exports Hit Record Before OPEC Cuts

EghtesadOnline: Iraq’s oil exports from its southern ports in the Persian Gulf reached a record high in December, just before the country was due to join other major producers in cutting output to help curb a global oversupply.
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Publish Date:12/January/2017 | 06:01

Iraq Confirms Oil-Output Cut Even as Scheduled Exports Rise

EghtesadOnline: Iraq has reduced its oil production by 160,000 barrels a day and will comply with cuts it agreed to make under an OPEC output deal, Oil Minister Jabbar Al-Luaibi said, even as ship loading data suggested that exports are set to increase next month.
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Publish Date:12/January/2017 | 05:55

Iran Crude Oil at $53

EghtesadOnline: Iranian crude oil continues its run into the bull-market territory on the back of a global pact to cut supplies that kicked in on January 1.
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Publish Date:09/January/2017 | 15:16

Saudis Said to Duel Rivals by Curbing Heavy Oil Over Light Crude

EghtesadOnline: Saudi Arabia is staying in the battle for market share by continuing to pump the type of oil that’s similar to rival U.S. and African supply, while fulfilling its promise to cut output by focusing curbs on other varieties.
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Publish Date:09/January/2017 | 11:12

Iraq’s Southern Oil Exports Hit Record Before OPEC Cuts

EghtesadOnline: Iraq’s oil exports from its southern ports in the Persian Gulf reached a record high in December, just before the country was due to join other major producers in cutting output to help curb a global oversupply.
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Publish Date:09/January/2017 | 10:56

OPEC Deal Tests Oil Majors’ Appetite for Risk and Reward

EghtesadOnline: OPEC’s deal to cut production and boost prices gives oil companies the opportunity to shake off two years of layoffs and slumping profits to start investing again -- if they still have the risk appetite.
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Publish Date:19/December/2016 | 21:02

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:15/December/2016 | 07:01

Aramco Keeps Building Oil Rigs Even as Saudis Agree to Pump Less

EghtesadOnline: Saudi Arabian Oil Co. signed contracts with U.S. companies to build dozens of oil rigs over 10 years as the kingdom builds for the long-term future of its most prized industry even while coordinating with other producers to cut output for six months to stabilize crude.
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Publish Date:15/December/2016 | 06:59

OPEC signals larger 2017 oil surplus, unless cuts implemented

EghtesadOnline: OPEC on Wednesday signaled a growing oil supply surplus next year unless members implement their deal to curb output from record levels and outside producers also deliver on cutback pledges made at the weekend.
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Publish Date:14/December/2016 | 16:10

One Europe Oil Refiner Said to Get 20% Less Saudi Arabia Crude

EghtesadOnline: Saudi Arabia, spearheading OPEC’s quest to eliminate a crude glut, will cut the amount of oil it allocates to one European refining company by about 20 percent, a person with direct knowledge of the matter said.
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Publish Date:14/December/2016 | 08:59

Oil prices stable, supported as output cuts hit market

EghtesadOnline: Oil prices were stable on Tuesday, buoyed by soaring demand in Asia and as signs of a crude production cut organized by OPEC and other exporters materialized, tightening a market that has been grappling with years of oversupply.
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Publish Date:13/December/2016 | 05:26

Oil Seen Headed to $60 as Saudis Signal Deeper Output Cuts

EghtesadOnline: Oil may climb to $60 a barrel for the first time in almost a year and a half after Russia and other unaffiliated nations joined an OPEC pledge to reduce production and Saudi Arabia surprised the market by saying it will cut more than previously agreed.
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Publish Date:12/December/2016 | 13:55

Oil Surges as Saudis Eye Deeper Cuts While Non-OPEC Joins Deal

EghtesadOnline: Oil jumped to the highest since July 2015 after Saudi Arabia signaled it’s ready to cut output more than earlier agreed and non-OPEC countries including Russia pledged to pump less next year.
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Publish Date:12/December/2016 | 13:48

Oil prices soar on global producer deal to cut crude output

EghtesadOnline: Oil prices shot to their highest levels since mid-2015 on Monday after OPEC and other producers reached their first deal since 2001 to jointly reduce output in order to rein in oversupply and prop up markets.
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Publish Date:12/December/2016 | 05:23