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Mexico Says Reached Deal With Trump to Cut Crude Output

EghtesadOnline: The president of Mexico -- the lone holdout in an OPEC deal to cut crude production and shore up prices -- said Friday that he has reached a deal with the US president to reduce oil output.
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Publish Date:12/April/2020 | 18:00

Iranian Energy Firms Join Campaign Against COVID-19 Outbreak

EghtesadOnline: Oil and gas companies including the National Iranian South Oil Company, a subsidiary of the National Iranian Oil Company, are doing their fair share in helping degrade and defeat the coronavirus, managing director of the affiliated company said on Monday.
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Publish Date:11/April/2020 | 16:31

Brent, WTI Prices Edge Down

EghtesadOnline: Oil prices fell on Monday, after Saudi Arabia and Russia delayed a meeting to discuss output cuts that could help alleviate global oversupply as the coronavirus pandemic pummels demand.
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Publish Date:06/April/2020 | 23:04

Putin Government Rewriting Budget at $20 Oil in 2020

EghtesadOnline: President Vladimir Putin’s government is rewriting its budget to prepare for oil prices at $20 a barrel this year despite US-led efforts to get major producers to rein in production.
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Publish Date:05/April/2020 | 19:30

Zanganeh Says OPEC+ Needs Further Production Cuts

EghtesadOnline: OPEC and its allies need to cut crude output by 500,000 barrels per day to clear the oil market's oversupply from the coronavirus outbreak, Iran’s Oil Minister said upon his arrival in Vienna on Wednesday.
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Publish Date:07/March/2020 | 06:19

Indigenizing Oil Industry Equipment Making Progress

EghtesadOnline: South Zagros Oil and Gas Production Company, a subsidiary of the National Iranian Oil Company, has manufactured and repaired 1,500 parts used in the oil and gas industry with the help of domestic companies over the past fiscal year), the SZOGPC managing director said.
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Publish Date:16/February/2020 | 10:31

Nationwide Oil, Derivatives Supply at 100 Billion Liters

EghtesadOnline: The Iranian Oil Pipeline and Telecommunication Company has supplied close to 100 billion liters of crude and petroleum products nationwide since March 2019, managing director of the company said.
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Publish Date:08/February/2020 | 11:47

Brent, WTI Extend Decline

EghtesadOnline: Oil prices extended declines on Monday, dragged down by worries about lower demand in the world’s largest oil importer China following the coronavirus breakout.
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Publish Date:04/February/2020 | 13:19

Oil Drops Below $60 as China Virus Drives Demand Concern

EghtesadOnline: Crude prices extended declines on Monday, dropping below $60 for the first time in nearly three months as the death toll from China’s coronavirus rose and more businesses were forced to shut down, stoking expectations of slowing oil demand.
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Publish Date:28/January/2020 | 10:57

Oil Jumps to Highest in Over a Week After Libyan Shutdowns

EghtesadOnline: Oil prices rose to their highest in more than week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, setting the stage for crude flows from the OPEC member to be cut to a trickle.
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Publish Date:21/January/2020 | 13:09

Oil Hits $70

EghtesadOnline: Oil prices rose a further 2% on Monday, pushing Brent above $70 a barrel, as rhetoric from the United States, Iran and Iraq fanned tensions in the Middle East after a US air strike which martyred a top Iranian military commander in Iraq.
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Publish Date:07/January/2020 | 13:13

Oil Posts Biggest Yearly Rise Since 2016

EghtesadOnline: Oil prices fell 1% on Tuesday, the last trading day of the decade, but notched the biggest annual gain in three years, supported by a thaw in the prolonged US-China trade war and ongoing supply cuts from major oil producers.
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Publish Date:05/January/2020 | 06:16

OPEC, Non-OPEC Agree on Deeper Oil Output Cut

EghtesadOnline: OPEC and its allies (OPEC+ including Azerbaijan, Bahrain, Brunei, Kazakhstan, Malaysia, Mexico, Oman, South Sudan and Sudan) led by Russia agreed to cut output by an additional 500,000 barrels per day until March 2020 as the 177th OPEC meeting held in Vienna, Austria, closed on Friday.
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Publish Date:07/December/2019 | 11:37

Oil Falls Amid Doubts Over US-China Trade Deal

EghtesadOnline: Crude oil futures fell on Friday amid lingering uncertainty on whether, and when, the United States and China will agree a long-awaited deal to end their bitter trade dispute, the gloom compounded by rising crude inventories in the United States.
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Publish Date:09/November/2019 | 13:22

Iran Energy Exchange Is a Stopgap Solution

EghtesadOnline: Oil has always been a function of the international market, so setting up local energy markets cannot help the National Iranian Oil Company sell crude on a long-term basis, a veteran financial expert said.
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Publish Date:02/November/2019 | 11:15

Iran's NIOC Generating Revenues via New Channels

EghetsadOnline: The National Iranian Oil Company raised $700 million in revenues by selling oil and petroleum byproducts in the capital market in the past eight months, the managing director of the company said Tuesday.
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Publish Date:16/October/2019 | 11:16