Opec
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Oil falls $2 a barrel on OPEC cut uncertainty ahead of meeting
EghtesadOnline: U.S. crude fell nearly 4 percent on Friday, dragged down by uncertainty over whether the Organization of the Petroleum Exporting Countries will reach an output deal, after Saudi…
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Saudi Arabia’s Sway in OPEC Limited by Resurgent Iraq and Iran
EghtesadOnline: Saudi Arabia’s dominance of OPEC isn’t what it once was. Iraq and Iran, shaking off shackles of sanctions and war, have raised oil output to record highs and are asserting themselves…
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An OPEC Oil Price Surge May Not Last, IEA Says
EghtesadOnline: An oil price surge triggered by a successful OPEC agreement to cut production could be snuffed out as supply surges back, according to the head of International Energy Agency.
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Russia to OPEC: Oil Freeze Is All You Get
EghtesadOnline: Facing pressure from OPEC to make a significant output reduction, Russia reiterated its readiness to freeze oil production at current levels, arguing that the offer amounted to…
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Oil prices edge up ahead of OPEC meeting to discuss output cuts
EghtesadOnline: Oil prices were slightly higher on Thursday ahead of next week's meeting of the Organization of the Petroleum Exporting Countries (OPEC) to discuss implementation of its proposed…
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Oil prices static on uncertainty over planned production cut
EghtesadOnline: Oil prices were little changed on Thursday as uncertainty ahead of a planned OPEC-led crude production cut and thin liquidity during the U.S. Thanksgiving holiday kept traders…
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Oil prices ease on doubts OPEC-led cut will end glut
EghtesadOnline: Oil prices edged lower on Wednesday on investors' doubts that OPEC would agree a large enough production cut to significantly reduce the global surplus when it meets next week.
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OPEC Quota Talks End First Day as Optimism on Deal Grows
EghtesadOnline: Oil traders and analysts grew more confident that OPEC will reach a deal to curb global oversupply next week as delegates said talks on assigning quotas to individual countries…
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Oil Trades Near $48 as OPEC Members Seek Production Cut Accord
EghtesadOnline: Oil traded near $48 a barrel as OPEC members sought to reach an agreement on output cuts.
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Nigeria Says OPEC to Agree Details of Oil-Supply Cuts Today
EghtesadOnline: OPEC is on course to finalize the details of the Algiers accord to cut oil production at a meeting in Vienna on Tuesday, said a delegate from Nigeria.
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Iran, Iraq optimistic over Vienna meeting
EghtesadOnline: Oil climbed to a three-week high as Iran expressed optimism that OPEC will agree to a supply-cut deal and Iraq said it will make new proposals to help bolster unity before next…
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Oil prices rise to highest this month on hopes of OPEC deal
EghtesadOnline: Oil prices rose on Tuesday to their highest this month as a growing consensus emerged in the market that OPEC would overcome internal disputes and scepticism to strike a deal…
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Crude Rallies With Asian Equities, Metals; Dollar Holds Advance
EghtesadOnline: Oil jumped on optimism OPEC will agree to a supply-cut deal, while Asian equities and industrial metals rebounded from last week’s losses. The dollar held near a January high,…
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Oil Bets Are Biggest in 9 Years Amid OPEC, Trump Volatility
EghtesadOnline: Money managers, producers and consumers made the biggest bets on West Texas Intermediate crude prices in nine years, amid signals more volatility is coming.
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Putin Sees ‘Great Chance’ of OPEC Deal as Moscow Ready to Freeze
EghtesadOnline: Russian President Vladimir Putin says he sees no obstacles to OPEC reaching an agreement later this month, and Russia is willing to freeze its crude oil output at current levels…
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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…
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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…
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Oil prices climb on expectation of OPEC-led output cut
EghtesadOnline: Oil prices rose around 1 percent on Monday as producer cartel OPEC moved closer to an output cut to rein oversupply that has kept prices low for over two years.
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OPEC stresses Iran’s significant role in Algiers' meeting
EghtesadOnline: Secretary-General of the Organization of Petroleum Exporting Countries (OPEC) Mohammed Barkindo admired Iran's significant role in reaching consensus in the Algiers' meeting held…
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Iran Optimistic on OPEC Production Cuts After Barkindo Visit
EghtesadOnline: Iranian Oil Minister Bijan Namdar Zanganeh said he’s optimistic that OPEC members will agree to proposed production cuts at a meeting in Vienna later this month.
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OPEC moves closer to oil output deal as Iran gets new offer
EghtesadOnline: OPEC is moving closer toward finalizing this month its first deal since 2008 to limit oil output, with most members prepared to offer Iran significant flexibility on production…
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Russia Has Made $6 Billion From Talking to OPEC
EghtesadOnline: Russia’s decision earlier this year to engage in talks with OPEC about limiting oil output has added more than 400 billion rubles ($6 billion) to the nation’s budget, according…
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OPEC Seen Reaching Deal, Yet Without Targets to Make It Stick
EghtesadOnline: OPEC will complete an accord to cut production this month, while stopping short of setting the individual country limits needed to make the deal work, according to a Bloomberg…
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Oil prices rise on Saudi optimism over OPEC deal
EghtesadOnline: Oil prices rose on Thursday as expectations of an OPEC deal to limit production outweighed evidence of global oversupply and rising inventories, particularly in the United States.
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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…
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OPEC Has ‘All Hands on Deck’ as Deadline to Complete Deal Looms
EghtesadOnline: OPEC members are focused on a "common objective" as a deadline approaches to finalize an agreement to limit the group’s production for the first time in eight years.
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Libya to Nearly Double Oil Output as OPEC’s Task Gets Harder
EghtesadOnline: OPEC’s Libya plans to almost double crude production next year even as the producer group tries to implement a deal to trim production and ease a global supply glut.
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Oil declines after OPEC-inspired rally as U.S. inventories rise
EghtesadOnline: Oil prices fell on Wednesday, returning some of the gains made in one of the year's biggest rallies a day earlier, after industry data showed U.S. crude stocks rose beyond expectations…
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OPEC Said to Start Final Diplomatic Push on Oil-Cuts Plan
EghtesadOnline: OPEC nations embarked on a final diplomatic effort to secure a deal on oil cuts, with Qatar, Algeria and Venezuela leading the push to overcome the divide between the group’s…
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Oil prices rise on falling shale output, renewed hopes of OPEC cut
EghtesadOnline: Oil prices rose around 2 percent on Tuesday to move away from multi-month lows struck the day before, pushed higher by expectations of falling shale output and renewed optimism…