Opec
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OPEC Deal Can Work, But ‘We Tend to Cheat,’ Al-Naimi Says
EghtesadOnline: OPEC’s agreement to cut production for the first time in eight years has the potential to balance the oil market, as long as everyone sticks to it, former Saudi Arabia Oil Minister…
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Electric Cars Could Take an OPEC-Sized Bite From Oil Demand
EghtesadOnline: A boom in electric vehicles made by the likes of Tesla Motors Inc. could erode as much as 10 percent of global gasoline demand by 2035, according to the oil industry consultant…
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Zangeneh hails OPEC's crucial decision
EghtesadOnline: Minister of Petroleum Bijan Zangeneh said on Thursday that OPEC members showed that despite rivalry and harsh political differences, they can cooperate and have engagement.
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Crude enjoys best weekly gain in years
EghtesadOnline: Crude prices have soared after the Organization of the Petroleum Exporting Countries agreed to cut crude output.
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OPEC members are ready to establish firmer grip on market
EghtesadOnline: As the members of the Organization of the Petroleum Exporting Countries (OPEC) prepare for a meeting in Vienna on November 30, a positive atmosphere prevails, former Iranian representa…
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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.…
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Oil Jumps Most Since February on OPEC Deal as Treasuries Retreat
EghtesadOnline: Crude oil surged as OPEC ministers forged a deal to reduce production, igniting a rally in global energy stocks. Meanwhile, Treasuries fell and the dollar extended its advance…
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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…
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Oil Exporters Lead Currency Gains as Crude Rises on OPEC Reports
EghtesadOnline: Oil-linked currencies were the day’s biggest gainers as crude surged on reports OPEC had clinched a deal to limit supply.
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OPEC Agrees to Cut Production in Drive to End Record Glut
EghtesadOnline: OPEC confounded its doubters and sent crude oil prices soaring by agreeing to its first production cuts in eight years.
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In OPEC Poker Game, Iran and Iraq Call Saudi Arabia’s Bluff
EghtesadOnline: For decades, Saudi Arabia has had its way at OPEC. All of a sudden the position has turned: Riyadh finds its power waning against a resurgent Iran and Iraq.
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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…
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Leaner and meaner: U.S. shale greater threat to OPEC after oil price war
EghtesadOnline: In a corner of the prolific Bakken shale play in North Dakota, oil companies can now pump crude at a price almost as low as that enjoyed by OPEC giants Iran and Iraq.
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OPEC in first joint oil cut with Russia since 2001, Saudis take "big hit"
EghtesadOnline: OPEC agreed on Wednesday its first oil output cuts since 2008 after Saudi Arabia accepted "a big hit" on its production and dropped its demand on arch-rival Iran to slash output.
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Oil jumps over 8 percent as OPEC finalizes output cut deal
EghtesadOnline: Oil prices soared more than 8 percent on Wednesday to the highest in a month as some of the world's largest producers agreed to curb production for the first time since 2008 in…
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Dollar claws back some losses as investors look to U.S. data, OPEC
EghtesadOnline: The dollar clawed back some losses on Tuesday as Italian political woes weighed on the euro, though the greenback remained shy of recent highs after U.S. Treasury yields stepped…
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Oil prices dip on scepticism ahead of OPEC meeting
EghtesadOnline: Oil prices dipped on Tuesday on doubts that producer cartel OPEC will be able to hammer out a meaningful output cut during a meeting on Wednesday aimed at reining in a global…
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Iran’s Petroleum Minister due in Austria for OPEC meeting
EghtesadOnline: Minister of Petroleum Bijan Zangeneh will depart Tehran for Vienna, Austria, on November 29 (Tuesday) to attend the 171st ordinary session of the Organization of Petroleum Exporting…
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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…
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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…
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Saudis Temper Call for Cuts and Russia Digs In
EghtesadOnline: OPEC surprised the market in September with a preliminary agreement to reduce supply to 32.5 million to 33 million barrels a day, breaking a two-year policy to pump at full throttle.…
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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…
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Iran Said to Assess 1.1 Million Barrel-a-Day Collective OPEC Cut
EghtesadOnline: Iran is assessing a proposal for a collective OPEC output cut, but hasn’t announced any commitment to reduce its own production as the group tries to end disagreements about how…
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Oil prices fall over doubts of planned crude output cut
EghtesadOnline: Oil prices fell on Monday, adding to Friday's steep losses as doubts re-emerged over the ability of major producers to agree output cuts at a planned meeting on Wednesday aimed…
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Algerian Min: Oil price to exceed $55 on OPEC consensus
EghtesadOnline: Algerian Minister of Energy and Mining Minister Noureddine Bouterfa said in Tehran on Saturday that oil price will exceed 55 dollars after OPEC reaches an agreement.
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Iran says OPEC will reach durable agreement on output
EghtesadOnline: Minister of Petroleum, Bijan Zanganeh, said on Saturday that OPEC can reach a lasting agreement on output and management of the oil market.
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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…
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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…
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Iran optimistic on OPEC deal after meeting Algerian minister
EghtesadOnline: Iran is optimistic OPEC can reach a deal on limiting oil supplies and plans to announce its own decision about any output curbs at the group's meeting next week, Iranian Oil Minister…
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Saudi wants OPEC to solve own problems before meeting non-OPEC
EghtesadOnline: Top OPEC oil exporter Saudi Arabia has told the producer group it will not attend talks on Monday with non-OPEC producers to discuss limiting supply, OPEC sources said, as it…