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Saudi hits new oil output record in November amid OPEC cut talk

EghtesadOnline: Saudi Arabia pumped record-high amounts of oil in November, amid talks over a global deal to cut production, defying market expectations of lower output on slower domestic demand and refinery maintenance.
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Publish Date:11/December/2016 | 20:24

OPEC, Russia see smooth road to global deal on output cut

EghtesadOnline: Russia and Saudi Arabia said they expect OPEC and non-OPEC producers to reach an agreement on Saturday to curtail oil output and prop up prices in the first such joint move since 2001.
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Publish Date:10/December/2016 | 13:27

OPEC Target Gets Harder as African Members Boost November Output

EghtesadOnline: OPEC’s mission to implement last week’s historic deal to curb production for the first time in eight years just got a little bit harder after three of its African members increased output in November.
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Publish Date:06/December/2016 | 16:28

Oil prices fall as production creeps up ahead of announced 2017 output cut

EghtesadOnline: Oil prices fell by one percent on Monday as a higher U.S. rig count unsettled markets amid nagging concern that output cuts, planned as part of concerted action between producer club OPEC and Russia, might not be as big as initially anticipated.
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Publish Date:05/December/2016 | 10:13

For Saudis, Even a Small Oil Cutback Is a Big Deal

EghtesadOnline: This week’s OPEC meeting about a global production cut is in crisis before it has even begun. Pre-summit discussions with non-member oil producers such as Russia were canceled. The Saudi Arabian government now warns that members may leave Wednesday’s talks in Vienna empty-handed -- an outcome that would be sure to trouble markets.
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Publish Date:30/November/2016 | 21:25

OPEC Fights Against History, $1 Trillion Money Manager Says

EghtesadOnline: David Hunt, chief executive officer of PGIM, Prudential Financial Inc.’s $1 trillion asset manager, cautioned against overreacting to the surge in oil prices as OPEC clinched a deal to curtail supply.
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Publish Date:30/November/2016 | 21:14

Oil jumps on OPEC deal; bond rout resumes

EghtesadOnline: Oil jumped on Wednesday as OPEC members clinched a deal to cut production, while upbeat U.S. economic data and comments from the U.S. Treasury Secretary nominee triggered a selloff in the bond market.
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Publish Date:30/November/2016 | 20:13

Oil Extends Slide Below $46 on Skepticism Over OPEC Output Deal

EghtesadOnline: Oil extended declines to slip below $46 a barrel amid skepticism over OPEC’s ability to reach an agreement to cut output as representatives prepare to meet Monday amid last-minute negotiations over the deal the group aims to formalize Wednesday.
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Publish Date:28/November/2016 | 09:58

OPEC Tries to Salvage Deal as Saudis Say Cut May Not Be Needed

EghtesadOnline: OPEC ministers flew to Moscow and officials in Vienna launched another round of talks in an effort to salvage an agreement on production cuts, just as Saudi Arabia raised the possibility of leaving without a deal.
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Publish Date:28/November/2016 | 09:56

Iraq Says It Will Participate in OPEC Deal to Cut Output

EghtesadOnline: Iraq will shoulder part of the burden of oil-output cuts, said Prime Minister Haider Al-Abadi, reversing the nation’s previous insistence for an exemption and potentially removing an obstacle to an OPEC deal next week.
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Publish Date:26/November/2016 | 22:03

Oil Tanker Analysts Waiting on OPEC Plot Cuts of Their Own

EghtesadOnline: As OPEC discusses the deepest cuts to oil production in years, one group of people in the energy supply chain are preparing reductions of their own: analysts paid to monitor how much crude tankers can earn from hauling cargoes.
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Publish Date:26/November/2016 | 21:59

The Very Real Risks That OPEC Won’t Cut Crude Oil Production

EghtesadOnline: OPEC says it’s close to a deal to cut oil output for the first time since 2008, a move that may halt a 2 1/2-year price slump. The actions of individual member states tell a different story.
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Publish Date:21/November/2016 | 08:02