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Iran Tells OPEC It Raised Supply by Most Since Sanctions

EghtesadOnline: Iran, which has said it’s exempt from OPEC’s accord to cut production, told the group it raised output by the most since international sanctions were lifted. Iraq, unwilling to curb its supplies, reported a higher level than OPEC’s estimates.
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Publish Date:12/November/2016 | 07:44

Eni CEO Urges Non-OPEC to Cut Output, Sees Profit at $50 Oil

EghtesadOnline: Eni SpA’s chief executive officer called for oil producers outside OPEC to join the group in cutting production to stabilize the market and said his company could still make money with crude at $50 a barrel.
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Publish Date:07/November/2016 | 11:13

OPEC Chief Says Russia on Board With Deal to Limit Output

EghtesadOnline: Russia, the world’s biggest energy producer, is “on board” with an OPEC agreement to limit crude oil production to help re-balance the market, according to OPEC Secretary General Mohammed Barkindo.
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Publish Date:07/November/2016 | 10:36

OPEC Quest Gets Tougher as Libya and Nigeria Ramp Up Oil Supply

EghtesadOnline: Nigeria and Libya, two crude suppliers in OPEC whose output was crushed by domestic conflicts this year, are ramping up again and spelling out what could become the producer club’s biggest challenge as it grapples with a global supply glut.
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Publish Date:02/November/2016 | 05:51

Oil's Heading to $40 If OPEC Fails, Says Goldman

EghtesadOnline: An OPEC deal to cut oil output at a meeting this month is looking increasingly unlikely, with failure warranting prices in the low-$40s, according to Goldman Sachs Group Inc.
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Publish Date:01/November/2016 | 24:57

OPEC May Need Help to End the Global Glut of Oil

EghtesadOnline: Even if OPEC defies a skeptical market by implementing output cuts in full, it still won’t drain the ocean of surplus oil already pumped from the ground.
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Publish Date:28/October/2016 | 16:00

Iraq Serves Sweet Tea and Raw Data to Avoid OPEC Production Cuts

EghtesadOnline: With trays of sweet tea and a tour of Babylonian treasures at the national museum, Iraq’s Oil Minister Jabbar al-Luaibi welcomed energy reporters to Baghdad. A month after railing about OPEC data, he chose a softer approach to make the case that his country pumps more oil than the group acknowledges and won’t join other members in cutting output.
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Publish Date:28/October/2016 | 15:54

Oil prices set for weekly drop on doubts OPEC can coordinate output cut

EghtesadOnline: Oil prices were steady on Friday, but on track for a weekly loss of more than 2 percent on uncertainty over whether OPEC would be able to coordinate a production cut big enough to curb a global glut that has dogged markets for two years.
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Publish Date:28/October/2016 | 09:34

Iran's ready to join oil freeze plan

EghtesadOnline: A senior Iranian oil official here on Monday voiced Tehran readiness to join the Organization of Petroleum Exporting Countries (OPEC) oil freeze plan to help stabilize prices in international markets.
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Publish Date:25/October/2016 | 10:16