oil prices
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Shell Smashes Estimates as BG Acquisition Drives Up Output
EghtesadOnline: Royal Dutch Shell Plc reported third-quarter profit that beat analyst estimates after its acquisition of BG Group Plc boosted oil production, helping to counter a slump in prices.…
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Oilfield services shakeup in cards after GE-Baker Hughes deal
EghtesadOnline: General Electric Co's deal with Baker Hughes Inc to create the world's No. 2 oilfield services business is the clearest signal yet that consolidation is picking up in the energy…
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Shell's earnings beat Exxon as oil majors adapt to low prices
EghtesadOnline: Royal Dutch/Shell and BP on Tuesday joined peers in reporting higher than expected earnings by making further deep cuts in spending to cope with an oil price downturn now in its…
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Oil prices rise from one-month lows after OPEC approves strategy
EghtesadOnline: Oil prices rose from one-month lows in Asian trading on Tuesday after OPEC agreed on a long-term strategy that was seen as an indication the cartel was reaching a consensus on…
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Oil Extends Decline as OPEC Splits Prevent Deal to Curb Supply
EghtesadOnline: Oil declined for a second day as OPEC’s internal disagreements undermined efforts among major suppliers to reach an agreement in Vienna on trimming output to support prices.
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More OPEC Exemption Requests Spur Wagers on Oil Price Slump
EghtesadOnline: The growing list of OPEC members seeking exemptions from a planned supply cut has investors seeing future price drops.
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Oil falls as non-OPEC yet to pledge concrete output steps
EghtesadOnline: Oil prices extended declines on Monday after non-OPEC producers made no specific commitment to join OPEC in limiting oil output levels to prop up prices, suggesting they wanted…
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Exxon, Chevron Hit by Low Crude Prices
EghtesadOnline: Low crude prices and weak refining margins weighed on third-quarter profits at US oil giants ExxonMobil and Chevron in reports Friday, but earnings rose compared with the prior…
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Oil prices set for weekly drop on doubts OPEC can coordinate output cut
EghtesadOnline: Oil prices were steady on Friday, but on track for a weekly loss of more than 2 percent on uncertainty over whether OPEC would be able to coordinate a production cut big enough…
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Crude Rally May Clinch Canada Top Stock Market Status in ’16
EghtesadOnline: Gold’s best run since 2010 pushed Canadian equities to the top spot among developed-market stocks this year. Crude at $50 a barrel will give them an opportunity to stay there.
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Wall Street set to open lower as Apple drags
EghtesadOnline; U.S. stock index futures pointed to the second straight day of decline at the open, with Apple dropping on disappointing quarterly sales and oil prices pressured by lingering…
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Oil price declines weigh on European markets
EghtesadOnline: European shares fell on Wednesday maintaining a gloomy trend set in Asia and the United States, and with concerns about a global glut of oil looming over the market.
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Asia stocks slide on Wall Street losses, oil drops on inventory rise
EghtesadOnline: Asian shares on Wednesday followed in the footsteps of Wall Street, which pulled back overnight on disappointing earnings, while the dollar inched down from a seven-month high…
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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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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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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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Oil Market Glut Grows Bigger as Saudi Arabia Says Worst Is Over
EghtesadOnline: Listen to Saudi Arabia and hear the oil market is rebalancing. Look at the screen, and Brent is indeed holding above $50 a barrel. But dig deeper into the world of physical oil,…
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Asian stocks follow U.S. up, Mexican peso hits 6-wk high after debate
EghtesadOnline: Asian stocks advanced on Thursday, propelled by strong U.S. earnings and oil prices near a 15-month high, while the Mexican peso hit a six-week high after the final U.S. presidential…
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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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Saudis Said to Boost Oil Sales to China as Pricing Lures Buyers
EghtesadOnline: Saudi Arabia, which is marshaling a potential deal with global crude producers to limit output, is said to have lifted sales to the world’s second biggest oil consumer after cutting…
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IMF Sees Saudi Break-Even Oil Price Falling Less Than Expected
EghtesadOnline: The average oil price that Saudi Arabia needs to balance its budget will fall this year by only half as much as forecast six months ago, according to the International Monetary…
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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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Slumping Oil Prices Are Creating New Headaches for Duterte
EghtesadOnline: After two years working in Saudi Arabia, Arman Abelarde packed his bags in September and went home to the Philippines, joining an exodus of foreign workers who have been a major…
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Asian stocks lifted by firmer oil prices; dollar steady
EghtesadOnline: Asian stocks crept up on Tuesday thanks to a rebound in oil prices and the dollar consolidated recent gains although underlying risk appetite was cautious on concerns over capital…
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Long Bond Selloff Spreads as European Stocks Drop With Crude Oil
EghtesadOnline: Longer-dated bonds fell in Asia and Europe after comments by Federal Reserve Chair Janet Yellen fueled concern that policy makers will tolerate faster inflation. European shares…
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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.