Opec
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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…
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OPEC, key producers to discuss six-month oil deal
EghtesadOnline: OPEC will hold talks with non-member oil producers on Wednesday in a bid to hammer out details of a global agreement to cap production for at least six months as Russia lent its…
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Oil Trades Near $50 as Europe Economic Data Counters Iraq Demand
EghtesadOnline: Oil traded near $50 as better-than-expected economic data in Europe countered Iraq’s demand that OPEC should exempt it from planned output cuts.
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Russian, Persian Gulf Arab Oil Ministers Meet as OPEC Cut Looms
EghtesadOnline: Russia’s energy minister met with counterparts from Saudi Arabia and other Persian Gulf Arab oil-producers to discuss steps to stabilize crude markets amid OPEC’s drive to win…
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Oil prices drop as Iraq says doesn't want to join OPEC cut
EghtesadOnline: Oil prices fell early on Monday as Iraq said it wanted to be exempt from any deal by producer cartel OPEC to cut production to prop up the market, and as U.S. drillers stepped…
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Russia’s Rising Oil-Output Forecasts Give Leverage in OPEC Talks
EghtesadOnline: As Russia gets ready for talks on cooperation with OPEC on Monday, it’s using the playbooks of Iran, Iraq and Venezuela to gain leverage.
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Venezuela's Maduro says oil producers close to output cap deal
EghtesadOnline: Venezuelan President Nicolas Maduro was quoted on Saturday as saying that OPEC and non-OPEC nations were "very close" to an agreement on oil production curbs, Azerbaijan's state…
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Oil Holds Above $50 in New York as Market Waits for Output Deal
EghtesadOnline: Crude settled above $50 a barrel as investors assessed the likelihood of a deal to reduce supply after Russia’s energy minister said the country’s oil output may rise to a record…
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Crude Rises on OPEC Deal Optimism; Chinese Data Weighs on Stocks
EghtesadOnline: Oil rose on signs the world’s largest producers will honor a deal to pare a surplus, boosting currencies of exporters including the ruble, while Chinese economic data damped demand…
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Oil Seen Stuck in $50 to $60 Range as Shale Blunts OPEC Action
EghtesadOnline: The world should get used to oil prices between $50 and $60 a barrel as falling costs in America’s shale fields counteract OPEC’s renewed commitment to supply management.
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Oil rises on U.S. crude inventory draw, falling Chinese output
EghtesadOnline: Oil prices rose on Wednesday, lifted by a report of a drop in U.S. crude inventories and declining production in China, while an upbeat OPEC statement on its planned output cut…
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Oil Falls to One-Week Low as OPEC Supply Climbs, Rig Count Grows
EghtesadOnline: Oil fell to a one-week low as OPEC members added supply and U.S. producers increased drilling, threatening to compound a global surplus.
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OPEC Spat Over Production Data Grows as Iran Rejects Estimates
EghtesadOnline: OPEC’s struggle with the first step of its new production deal -- agreeing on how much its members are pumping -- deepened as Iran became the third nation to openly question the…
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As OPEC Waits on Russia, Naimi Memoir Offers Cautionary History
EghtesadOnline: Ali Al-Naimi, the former Saudi oil minister and architect of the 2014 pump-at-will OPEC policy that’s roiled markets since, drew the conclusion during his final years in office…
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What OPEC’s Oil U-Turn Missed: Peak Demand Keeps Getting Closer
EghtesadOnline: OPEC’s decision last month to reverse its policy of unfettered production and cut oil output to boost prices may be at odds with the industry’s most important long-term trend:…
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Iran calls OPEC's decision to limit output 'baby step in right direction'
EghtesadIOnline: Iran's deputy oil minister said on Monday that the OPEC's primary agreement in Algeria to limit oil output at 32.5 million barrels per day was a small step but in right direction.
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OPEC-Russia Roadshow Heads to Vienna for Oil-Cuts Talks
EghtesadOnline: OPEC’s effort to secure cooperation of non-members in a global deal to curb crude output will roll on from Istanbul to Vienna, with Russia on board but growing internal differences…
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Oil prices fall on higher OPEC output, rise in U.S. crude stocks
EghtesadOnline: Oil prices fell on Thursday after OPEC said its production had risen to the highest level in at least eight years and following reports of an increase in U.S. crude stockpiles.
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OPEC, key producers to discuss six-month oil deal
EghtesadOnline: OPEC will hold talks with non-member oil producers on Wednesday in a bid to hammer out details of a global agreement to cap production for at least six months as Russia lent its…
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Asian shares mostly lower, oil near one-year high on output cut plan
EghtesadOnline: Asian shares were mostly lower on Tuesday, while oil prices hovered near one-year highs on growing expectations of an output cut by OPEC producers.
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OPEC’s Quiet Man Is at Center of Cuts Deal Nobody Saw Coming
EghtesadOnline: As OPEC members meet again in Istanbul, the quiet diplomacy of one of its lowest-profile members will play a central role in whether the group can successfully implement its first…
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Putin Says Russia Ready to Join OPEC Effort to Limit Oil Supply
EghtesadOnline: Russia, the world’s largest energy exporter, is ready to join OPEC in limiting oil production with either a freeze or a cut, said President Vladimir Putin.
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Oil approaches one-year high as speculators buy into output cut deal
EghtesadOnline: Oil prices rose around one percent on Monday, approaching one-year highs, as speculators raised bets that oil prices would gain on the back of a landmark agreement among OPEC…
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Venezuela Sees Oil Agreement Cutting 1.2 Million Barrels a Day
EghtesadOnline: An agreement among OPEC and non-OPEC states to limit oil production could slash global supply by 1.2 million barrels a day and add as much as $15 to prices, said Venezuelan Oil…
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Iraq's oil minister wants country to increase output in 2017
EghtesadOnline: Iraq's oil minister has urged oil and natural gas producers operating in the country to continue increasing output next year, the oil ministry said in a statement on Sunday.
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OPEC’s decisions have good impact on market
EghtesadOnline: Iran’s Oil Minister Bijan Zanganeh has said that the OPEC’s recent decisions have laid good impact on the international oil market.
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Rouhani, Maduro discuss oil prices ahead of OPEC meeting
EghtesadOnline: Iranian President Hassan Rouhani in a telephone conversation with Venezuelan President Nicolás Maduro on Monday evening, congratulated him for the successful holding of the NAM…
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Iran, OPEC’s Big Winner, Will Sign Landmark Oil Contract
EghtesadOnline: Iran, fresh from an OPEC meeting where it won significant concessions from regional rival Saudi Arabia, will accelerate the rejuvenation of its sanctions-ravaged energy industry…
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Oil prices fall on surging Iran sales, but looming OPEC deal offers support
EghtesadOnline: Oil prices fell on Tuesday on a rise in Iranian exports which add to a global supply overhang, although a planned OPEC-led production cut later this year offered some support.
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Oil Drops as U.S. Adds Drill Rigs While Iran Seeks Export Boost
EghtesadOnline: Oil declined from the highest close in six weeks as U.S. producers increased drilling and Iran signaled it’s seeking to boost exports after OPEC members agreed to reduce output…