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Brent Hits One-Month High

EghtesadOnline: Oil hit a one-month high near $55 a barrel on Wednesday as a drop in US crude inventories raised hopes that OPEC-led supply restraint is clearing a glut, while an outage at a UK North Sea oilfield lent support.
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Publish Date:06/April/2017 | 18:11

Russia Can Wait for $70 Oil Before Re-Entering Arctic Waters

EghtesadOnline: Russia can wait for a sustained recovery in oil prices before drilling again in Arctic waters, relying for now on less costly regions even as rival producer Norway accelerates development of its northerly fields.
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Publish Date:29/March/2017 | 13:13

Russia Needs Data on Oil Supply, Markets to Decide on More Cuts

EghtesadOnline: Russia isn’t ready to support a possible extension of oil-supply cuts into the second half of the year, even as more crude producers acknowledge they will probably need to do so to achieve their goals of balancing the market and firming up prices.
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Publish Date:27/March/2017 | 24:59

Oil Speculators Can't Dump Rally Bets Fast Enough Amid Glut

EghtesadOnline: The bullish sentiment following OPEC’s deal is almost all gone. Hedge funds haven’t been so skeptical on rising West Texas Intermediate crude prices since Nov. 29, the day before the cartel agreed to cut output, according to U.S. Commodity Futures Trading Commission data.
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Publish Date:27/March/2017 | 11:22

Oil Drops for Week on U.S. Supplies Before OPEC, Allies Meet

EghtesadOnline: Crude oil had its third weekly loss in a month as OPEC and its allies prepared to meet for a review of their production cuts, while swelling U.S. stockpiles indicated the measures aren’t working yet.
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Publish Date:25/March/2017 | 06:18

Kuwait Becomes First OPEC Nation to Call for Longer Oil Cuts

EghtesadOnline: Kuwait wants OPEC to extend output cuts beyond June, becoming the producer group’s first member to call for more time to balance the global oil market as the rally that boosted prices initially on the curbs has faded.
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Publish Date:14/March/2017 | 05:13

Oil Prices Slip 1 Percent

EghtesadOnline: Oil prices fell about 1% on Friday as worries about rising US supplies outweighed OPEC pledges to boost compliance with output curbs.
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Publish Date:26/February/2017 | 13:11

Brent Crude Oil Benchmark Undergoes Biggest Change in Decade

EghtesadOnline: The Brent crude price benchmark for millions of barrels of physical crude sales each day is poised for its biggest shakeup in a decade with a new grade added to the mix from January next year.
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Publish Date:22/February/2017 | 04:57

Crude Oil Could Plunge to as Low as $30 a Barrel

EghtesadOnline: Crude prices could plunge toward $30 a barrel -- a rout of about 40 percent from current levels -- unless OPEC extends production cuts that are propping up the market, ABN Amro Bank NV said.
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Publish Date:22/February/2017 | 04:55

Kuwait Says OPEC Leaning on Non-Members to Cut More Oil Output

EghtesadOnline: OPEC is urging oil suppliers outside the group to fulfill their commitments to cut output, and crude prices will rise once producers demonstrate better compliance with their agreement to clear a global glut, Kuwait’s oil minister said.
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Publish Date:16/February/2017 | 20:11

Oil Prices Rise Above $56

EghtesadOnline: Oil strengthened slightly on Tuesday, supported by an OPEC-led effort to cut output while rising production elsewhere kept prices within the narrow ranges that have contained them so far this year.
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Publish Date:15/February/2017 | 11:40

Energy stocks look for catalyst out of doldrums

EghtesadOnline: Buoyant oil prices since Donald Trump's election have provided no lasting halo effect for energy stocks as the sector's profit rebound has lacked vigor, but that could change in the week ahead with a fresh crop of quarterly scorecards.
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Publish Date:11/February/2017 | 05:53

Oil overhang points to need for extended OPEC output cuts

EghtesadOnline: An OPEC-led production cut may well be accelerating a drawdown in global oil stocks that began last year, but implementing the reduction for just six months means the producer group will fall short of achieving its objective of rebalancing the market.
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Publish Date:10/February/2017 | 13:04

OPEC figures show over 90 percent compliance with supply cut: sources

EghtesadOnline: OPEC has delivered over 90 percent of pledged oil output curbs in January, according to figures the exporter group uses to monitor its supply, making a strong start in implementing its first production cut in eight years.
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Publish Date:10/February/2017 | 24:43

OPEC Output Cuts End Big Oil’s Trading Bonanza

EghtesadOnline: The oil-trading boom that cushioned the profits of Royal Dutch Shell Plc and BP Plc through the price slump of 2015 and early 2016 is over.
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Publish Date:10/February/2017 | 11:53

Oil price to rise: Iran’s oil minister

EghtesadOnline: Iran’s oil minister estimated that oil and gas condensations sale to reach $41 billion by the end of Iran fiscal year (20 March 2016- 21 March 2017), but it doesn’t mean that Tehran to receive $41 billion in cash because it takes times.
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Publish Date:16/January/2017 | 15:57