oil market
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Suddenly, Oil Below $40 a Barrel Doesn't Seem So Far-Fetched
EghtesadOnline: It’s come to this for the beleaguered oil market: a big bet that prices are about to sink to their lowest level in more than a year.
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Oil rebounds on U.S. stocks drawdown, declining OPEC compliance weighs
EghtesadOnline: Crude oil prices bounced back on Wednesday as a decline in U.S. inventories underpinned the market, although a dip in compliance with OPEC efforts to reduce output and near record…
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Saudi Arabia Seen Losing Market Share to Iran, Iraq on Oil Cuts
EghtesadOnline: Saudi Arabia, the world’s biggest crude exporter, is losing market share to Iraq and Iran as a result of OPEC’s agreement to curb supplies to bolster prices, according to the…
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Oil falls on bulging U.S. crude inventories, record global supplies
EghtesadOnline: Oil prices resumed their downward trend on Wednesday as data showed a rise in U.S. crude inventories and record supplies in the rest of the world cast doubt on OPEC's ability…
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Oil Veteran Says OPEC Needs Year to Pull Off Elusive Mission
EghtesadOnline: OPEC needs a year more to accomplish what’s at the moment proving to be mission impossible, according to a veteran oil analyst.
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Oil recovers lost ground, but market remains under pressure
EghtesadOnline: Oil prices recovered ground on Monday following last week's big losses, driven by expectations that OPEC will extend a pledge to cut output to cover all of 2017, although a relentless…
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Oil Prices Slide
EghtesadOnline: Oil prices edged lower on Friday, on course for the biggest weekly drop in a month, over doubts that an OPEC-led production cut will restore balance to an oversupplied market.
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Oil Prices Ease
EghtesadOnline: Oil prices hit their lowest in 11 days on Tuesday on news that US shale oil output in May is expected to post the biggest monthly increase in more than two years, fuelling concerns…
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Oil falls after failed North Korean missile test, U.S. rig count gains
EghtesadOnline: Crude oil fell in quiet trading on Monday, after the three-day Easter break, on signs the United States is continuing to add output, undermining OPEC efforts to support prices,…
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Aramco CEO Sees Oil Market Closer to Balance Despite U.S. Boom
EghtesadOnline: The global oil market is moving closer to balance even as increases in U.S. oil production push prices down in the short-term, Saudi Arabian Oil Co. Chief Executive Officer Amin…
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Oil Extends Longest Gain of 2017 as Saudis Seen Extending Curbs
EghtesadOnline: Oil advanced for a seventh day in New York, the longest gain since December, on confidence Saudi Arabia will support an extension to OPEC-led output cuts just as U.S. stockpiles…
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Oil Spread That Rules Trading Flow Seen Aiding OPEC's Rivals
EghtesadOnline: A crude-price spread that rules over the flow of supply to the world’s biggest oil market will probably favor producers outside the Middle East at least until OPEC meets next…
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Iran sold all oil stored at sea – report
EghtesadOnline: Oil market sources say Iran has sold all the oil it had stored at sea for years – a sign of the country’s positive performance in marketing its vital crude oil supplies.
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OPEC's Barkindo Sees Progress in Oil Cuts as Stockpiles Shrink
EghtesadOnline: Crude stockpiles are starting to decline in a sign that the production cuts implemented this year are bringing the market to balance, according to OPEC’s Secretary-General Mohammad…
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Oil Gains as Libyan Crude Drop Offsets What OPEC Curbs Couldn't
EghtesadOnline: Oil rose after a pipeline halt reduced output in OPEC member Libya, countering concerns that a U.S. surplus shows little sign of diminishing.
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Russia Needs Data on Oil Supply, Markets to Decide on More Cuts
EghtesadOnline: Russia isn’t ready to support a possible extension of oil-supply cuts into the second half of the year, even as more crude producers acknowledge they will probably need to do…
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Oil Speculators Can't Dump Rally Bets Fast Enough Amid Glut
EghtesadOnline: The bullish sentiment following OPEC’s deal is almost all gone. Hedge funds haven’t been so skeptical on rising West Texas Intermediate crude prices since Nov. 29, the day before…
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Iraqi oil minister: market is decisive factor in possible cut extension
EghtesadOnline: Iraqi Oil Minister Jabar Ali al-Luaibi said on Saturday the market is a decisive factor in deciding whether to extend into the second half of this year a global agreement on reducing…
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OPEC, Allies Meet as Oil Market Warns Them: Job's Not Done
EghtesadOnline: OPEC and allies reviewing the impact of their oil cuts this weekend face a market with an unambiguous message: their work is far from done.
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Oil edges up as Saudis cut supplies to U.S., but global glut remains
EghtesadOnline: Oil prices edged up on Friday, supported by a fall in Saudi exports to the United States, but overall markets remained under pressure on the back of a world market awash with…
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Oil Drops as U.S. Drilling Growth Threatens to Counter OPEC Cuts
EghtesadOnline: Oil fell as U.S. drilling continued to rise, undermining the potential for even an extended OPEC output-reduction deal to rebalance the market.
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IEA says oil market could tilt into deficit in the first half if OPEC sticks to cuts
EghtesadOnline: Global oil inventories rose for the first time in January as the market grappled with a swell in production last year, but if OPEC maintains its output cuts, demand should overtake…
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Kuwait Becomes First OPEC Nation to Call for Longer Oil Cuts
EghtesadOnline: Kuwait wants OPEC to extend output cuts beyond June, becoming the producer group’s first member to call for more time to balance the global oil market as the rally that boosted…
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OPEC's Best Signal of Success No Longer Looks So Promising
EghtesadOnline: When OPEC announced production cuts last year, the most reliable indicator of oil-market supply started signaling a shortage ahead. Now it’s pointing the other way.
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Oil rebounds from recent weakness, still rangebound
EghtesadOnline: Oil prices surged on Friday, as a weaker dollar encouraged buying but investors remained cautious after Russian production figures showed weak compliance with a global deal to…
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Oil down on record U.S. crude stocks, flat Russian output
EghtesadOnline: Oil prices fell on Thursday after U.S. crude stocks hit an all-time high and official data showed Russian oil production unchanged in February, with no further cuts to tighten…
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Barkindo: Worst Over for International Oil Market
EghtesadOnline: OPEC-led oil production cuts have been well supported by all participating countries despite some teething troubles for non-OPEC members, the group's secretary-general, Mohammed…
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Funds prepare $2 billion oil market play as supply tightens
EghtesadOnline: Passive investment funds are poised to shift an estimated $2 billion from far-term to near-term crude futures over the next week, anticipating an energy market rally as a historic…
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Iran expects oil market changes as Tillerson US secretary
EghtesadOnline: New changes are expected to happen in the global oil market as the former Exxon boss Rex Tillerson has become the United States’ secretary of state, Iranian Oil Minister Bijan…
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Brent Crude Oil Benchmark Undergoes Biggest Change in Decade
EghtesadOnline: The Brent crude price benchmark for millions of barrels of physical crude sales each day is poised for its biggest shakeup in a decade with a new grade added to the mix from January…