oil market
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The Oil Trade Showing Where OPEC’s Cuts Are Starting to Bite
EghtesadOnline: As OPEC starts to make its production cuts work, the true impact of its actions is perhaps most in evidence in an obscure part of the physical oil market.
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Oil prices edge down ahead of OPEC, non-OPEC production cuts
EghtesadOnline: Oil prices edged down on Wednesday in quiet early Asian trading as the market waits to see how OPEC and non-OPEC members carry through on planned supply cuts in the new year.
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Oil Extends Longest Run of Gains Since August Before OPEC Cuts
EghtesadOnline: Oil extended the longest winning streak in more than four months before OPEC and other producing nations start reducing output to stabilize the market.
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Investors Betting on Oil Price Drop Flee as Production Cuts Near
EghtesadOnline: Oil investors seem to have less reason to doubt that OPEC and other producers will make the cuts needed to balance the market.
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Iran’s OPEC Win Lacks Substance Without Deals With Big Oil
EghtesadOnline: Few countries have benefited from the oil market’s 2016 recovery like Iran. Since sanctions on its economy were eased in January, the Persian Gulf producer has doubled exports…
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Oil prices rise in anticipation of tighter 2017 market
EghtesadOnline: Oil prices rose on Monday in anticipation of tighter crude supply going into 2017 following the decision by OPEC and other producers to cut output to prop up prices.
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Saudi Oil Minister Sees Commitment to Cuts Ending Glut in Months
EghtesadOnline: OPEC and other major oil producers are committed to a “high level of compliance” with their agreements to cut output, and the shared strategy will balance the market in 2017,…
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How Global Oil Flows Might Look After OPEC’s Supply Shock
EghtesadOnline: OPEC’s quest to end a global crude glut already snapped a two-year slump in oil prices. Now attention is turning to how the group’s surprise decision to cut output will transform…
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Oil prices stabilize after Fed hike as tighter market looms
EghtesadOnline: Oil prices stabilized on Thursday as a tighter market looms in 2017 due to planned output cuts led by OPEC and Russia, after sharp declines earlier following Wednesday's U.S.…
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Saudi Oil Minister Sees Commitment to Cuts Ending Glut in Months
EghtesadOnline: OPEC and other major oil producers are committed to a “high level of compliance” with their agreements to cut output, and the shared strategy will balance the market in 2017,…
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OPEC Says Supply Cuts Won’t Re-Balance Market Until Second Half
EghtesadOnline: OPEC said its agreement to cut production, while speeding up the re-balancing of the global oil market, won’t result in demand exceeding supply until the second half of next year.
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Oil prices stable, supported as output cuts hit market
EghtesadOnline: Oil prices were stable on Tuesday, buoyed by soaring demand in Asia and as signs of a crude production cut organized by OPEC and other exporters materialized, tightening a market…
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Saudi Minister Jolts Oil Market in Whatever It Takes Moment
EghtesadOnline: Saudi Oil Minister Khalid Al-Falih emerged from the OPEC meeting room on Saturday evening having endured months of secret petro-diplomacy, late-night phone calls and, a few times,…
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OPEC’s Historic Deal Won’t Be Enough to Drain Oil Stockpiles
EghtesadOnline: OPEC is likely to bring the oil market into balance by the middle of next year, but its production cut looks set to fall short of its stated goal of draining the stockpiles that…
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Rouhani stresses need for sustained OPEC consultation for market stability
EghtesadOnline: President Hassan Rouhani in a telephone conversation with his Venezuelan counterpart President Nicolas Maduro on Thursday said that continuation of consultation and cooperation…
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American Shale Companies' Rush to Hedge Is Turning the Oil Market Upside Down
EghtesadOnline: U.S. shale oil companies are using the post-OPEC rally to hedge their oil price risk for next year and 2018 above $50 a barrel, bankers, merchants and brokers said, pushing the…
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OPEC Ministers See Oil Market Balanced If Non-OPEC Joins Cut
EghtesadOnline: Two of OPEC’s leading ministers said its plan to rebalance the oil market will only work if Russia and other countries outside the group follow through on their commitments to…
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Glencore Dealmaking King Returns With Wager on Oil and Putin
EghtesadOnline: A year ago Ivan Glasenberg was fighting to save his company from short sellers. Today, the CEO of Glencore Plc is back to doing what made his reputation: cutting deals that shake…
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Oil Market Turns Upside Down as Shale Rushes to Hedge Post-OPEC
EghtesadOnline: U.S. shale oil companies are using the post-OPEC rally to hedge their oil price risk for next year and 2018 above $50 a barrel, bankers, merchants and brokers said, pushing the…
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Presidential aide hails Iran-Russia agreement on oil market
EghtesadOnline: Telephone conversation between Iranian and Russian presidents a day before an OPEC meeting showed that agreement among big powers can cause major developments, senior official…
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OPEC Deal Upends Everything in Oil Market, Not Just Prices
EghtesadOnline: No matter where you look in the oil market, key markers watched by traders have been going haywire since Wednesday -- and they show little sign of letting up.
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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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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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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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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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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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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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A $900 Billion Oil Treasure Lies Beneath West Texas Desert
EghtesadOnline: In a troubled oil world, the Permian Basin is the gift that keeps on giving. One portion of the giant field, known as the Wolfcamp formation, was found to hold 20 billion barrels…
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Iran Pumps More Oil as Saudi Minister Calls for OPEC Output Cuts
EghtesadOnline: Iran boosted oil output at three western fields faster than it expected as rival OPEC producer Saudi Arabia called for a collective output cut later this month to help rebalance…
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What to Watch in Oil When Trump Moves Into the White House
EghtesadOnline: Some U.S. oil policies are likely to shift significantly when Donald Trump assumes the presidency next year. While details remain sketchy, he’s highlighted a number of areas where…