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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

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

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

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

Oil Investors Have $490 Billion Riding on Big OPEC Decision

EghtesadOnline: After two tough years of falling oil prices and company valuations, investors in the world’s biggest energy producers have some cause for hope as crude prices continue their recovery from a 12-year low. They will be looking to OPEC not to dash it.
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Publish Date:28/November/2016 | 09:50

Oil Climbs as Iran, Iraq Signal Deal Hope Before Vienna Meeting

EghtesadOnline: Oil extended gains as Iran signaled optimism OPEC will agree to a supply-cut deal and Iraq said it will offer new proposals to help bolster the group’s unity before members meet next week in Vienna.
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Publish Date:21/November/2016 | 08:03

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

Oil Slips as Clock Ticks on OPEC Deal Amid Rising U.S. Supply

EghtesadOnline: Oil slipped from a two-week high in New York as OPEC made another push to finalize an accord on cutting production, while rising crude inventories in the U.S. showed the global surplus remains.
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Publish Date:16/November/2016 | 11:09

Bets Are On for Oil Prices to Slump Again

EghtesadOnline: The growing list of OPEC members seeking exemptions from a planned supply cut has investors seeing future price drops.
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Publish Date:01/November/2016 | 13:14

U.S. Gasoline Jumps Most Since 2008 After Pipeline Blast

EghtesadOnline: Gasoline in New York jumped the most in almost eight years, and its premium to crude prices soared 60 percent after an explosion and fire in Alabama shut the largest fuel pipeline in the U.S., killing one person and injuring more. Traders rushed to book cargoes from Europe.
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Publish Date:01/November/2016 | 13:03

BP Profit Slides on Weaker Refining, Oil-Production Loss

EghtesadOnline: BP Plc reported a 49 percent decline in third-quarter earnings after crude prices fell, refining margins shrank and its exploration and production division posted a loss. Shares fell.
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Publish Date:01/November/2016 | 24:54