Opec
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Russia Likely to Back Extension of OPEC Deal as Prices Stabilize
EghtesadOnline: Russia is likely to back a further extension of the OPEC agreement cutting oil output, judging that it has helped to stabilize the market, the country’s deputy prime minister…
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OPEC Output Cuts Cloud Iran Outlook
EghtesadOnline: Iran's oil minister said on Monday the country's crude oil output is notably below the levels it should be, but acknowledged that OPEC-led efforts to cut supplies and ease a persistent…
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OPEC chief hails Zanganeh’s reappointment
EghtesadOnline: Mahammad Sanusi Barkindo, the secretary general of the Organization of the Petroleum Exporting Countries (OPEC), in a letter congratulated Iran’s Petroleum Minister Bijan Zanganeh…
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Why OPEC's Success Hinges on a Change of Seasons
EghtesadOnline: Global oil consumption ebbs and flows from one season to the next. So the current months of higher demand will be scrutinized closely for signs of whether production cuts from…
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OPEC Agreement increases Iran's petrochemical export value
EghtesadOnline: Value of Iran's petrochemical export in the first three months of the year in comparison with the same period of the preceding year has increased by more than 200 million dollars.
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OPEC's Oil-Glut Fight Could Last Years
EghtesadOnline: When OPEC and Russia first embarked on their strategy to clear a global oil glut, it was expected to succeed within six months. It now looks like the battle could last for years.
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Oil slips on strong dollar, OPEC and China weigh
EghtesadOnline: Oil prices slipped on Tuesday, extending a heavy sell-off after a surge in the dollar and weighed down by signs of weaker demand in China, the world's second-largest consumer.
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U.S. Oil Drillers Keep Pressure on OPEC With Record Shale Output
EghtesadOnline: Oil output from major U.S. shale plays is poised to reach a fresh record next month, further complicating OPEC’s efforts to support prices.
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OPEC’s Long-Sought Success Spoiled by 2018 Oil Supply Worry
EghtesadOnline: Oil investors are already worrying over the potential fallout when OPEC’s deal to cut output expires, marring emerging signs that the accord to shrink a glut is finally succeeding.
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OPEC Reports Uptick in Iran’s July Output
EghtesadOnline: Iran increased crude oil production last month along with most other OPEC producers as the 14-nation group continues efforts.
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Saudi, Iraq Oil Ministers Agree to Stronger Oil-Cuts Commitment
EghtesadOnline: OPEC’s two biggest producers agreed to strengthen their commitment to production cuts and maintain balance in world crude markets, Saudi Energy Minister Khalid Al-Falih said after…
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OPEC Boosts Oil-Demand Outlook While Its Production Rises
EghtesadOnline: OPEC boosted estimates of demand for its crude this year and next amid stronger-than-expected fuel consumption and a weaker outlook for rival supply.
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OPEC Finally Catches a Break
EghtesadOnline: The key sign of OPEC’s success may finally be here. Since the Organization of Petroleum Exporting Countries embarked on its strategy to clear a global glut, analysts from Goldman…
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Oil Caps Weekly Drop Amid Shaky OPEC Compliance, Weaker Demand
EghtesadOnline: Oil had its worst week in a month as compliance with OPEC’s deal falters and the outlook for demand worsens.
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IEA Cuts Estimates for Crude Needed From OPEC in 2017, 2018
EghtesadOnline: The International Energy Agency cut estimates for the amount of crude needed from OPEC this year and in 2018 after lowering its historical assessments of consumption in some emerging…
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The U.S. Shale Boom Is Slowing Down
EghtesadOnline: Oil explorers reduced rigs drilling in U.S. oilfields this week, fueling optimism that a shale slowdown and OPEC production cuts will be enough to deflate a glut and strengthen…
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OPEC, Non-OPEC Nations to Meet on Compliance With Oil Targets
EghtesadOnline: Representatives of some OPEC and non-OPEC nations will meet in Abu Dhabi as soon as next week to discuss why some of them are falling behind in their pledges to cut production,…
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U.A.E. Sees OPEC Considering Oil-Cuts Extension in November
EghtesadOnline: OPEC may need to consider extending its oil-cuts agreement when the group meets in November, as crude markets are taking too long to recover, United Arab Emirates Energy Minister…
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Oil gains ahead of producer meeting; Nigeria, Libya output in focus
EghtesadOnline: Oil prices gained on Monday after a steep fall the session before, buoyed by expectations that a joint OPEC and non-OPEC meeting later in the day may address rising output in…
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Stocks Fall Before Earnings Flurry, Fed
EghtesadOnline: Stocks in Asia dropped and the yen rose for a fifth day as traders showed caution ahead of a week packed with earnings results and a Federal Reserve interest-rate decision. Oil…
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Kuwaiti oil minister says further production cuts are possible
EghtesadOnline: Kuwait's oil minister Essam al-Marzouq said on Saturday that compliance with oil production cuts by OPEC and non-OPEC countries is good and that deeper cuts are possible.
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Stocks Fall, Dollar Sinks as Politics Take a Toll
EghtesadOnline: U.S. stocks sank Friday and the euro climbed to its highest level against the dollar since January 2015 as investors assessed an investigation into U.S. President Donald Trump…
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Oil Producers Don’t Have a Plan to End the Glut
EghtesadOnline: OPEC and Russia’s plan to clear the global oil glut hasn’t worked as they hoped, but there’s little expectation the world’s largest producers will act more aggressively when they…
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OPEC Wrestles Over Oil Output While Top Importer's Demand Is in Peril
EghtesadOnline: Oil bulls grappling with OPEC’s weakened resolve to curb output are also having to worry about waning demand in the world’s biggest buyer of overseas crude.
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Oil prices stable as strong demand meets ongoing supply glut
EghtesadOnline: Oil prices were stable on Tuesday, supported by strong consumption but weighed by ongoing high supplies from producer club OPEC and also the United States.
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Iran Crude Output Within OPEC Bounds
EghtesadOnline: Iran's crude oil production remained within the limits of an OPEC accord aimed at reducing output and easing a lingering global glut, OPEC said in its monthly report this week,…
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Big Oil Just Woke Up to Threat of Rising Electric Car Demand
EghtesadOnline: The world’s biggest oil producers are starting to take electric vehicles seriously as a long-term threat.
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OPEC's First 2018 Outlook Shows It's Still Pumping Too Much Oil
EghtesadOnline: OPEC’s first assessment of world markets in 2018 showed that, despite cutting output, the group is still pumping too much crude.
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Goldman Sees Risk of Oil Below $40 Without OPEC ‘Shock and Awe’
EghtesadOnline: OPEC needs to “shock and awe” the oil market for prices to gain, according to Goldman Sachs Group Inc.
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Saudi Arabia Exceeds Oil-Production Cap for First Time
EghtesadOnline: Saudi Arabia told OPEC it pumped 10.07 million barrels a day in June, a person with knowledge of the data said, exceeding its production limit for the first time since brokering…