oil prices
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OPEC Runs Out of Options as Bid to Boost Oil Price Fizzles
EghtesadOnline: OPEC’s plan to boost oil prices by cutting production has fizzled, yet it has little choice but to stick with it.
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Oil Rout Damps Stock Gains as Bonds, Dollar Slip
EghtesadOnline: Crude plunged to a six-month low, erasing gains sparked by OPEC’s November output agreement, as concerns over a supply glut mounted. Earnings kept U.S. stocks afloat, while Treasuries…
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Iran's Gold Jewelry Demand Rises to 4-Year High, Bucks Oil Slump
EghtesadOnline: Iran’s gold jewelry demand climbed to a four-year high in the first quarter, as the rest of the Middle East was hurt by low oil prices.
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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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Iran Oil Minister Backs Extension of Crude Supply Cuts
EghtesadOnline: Tehran will support a decision to extend an OPEC-led agreement to cut crude oil supplies and lift sagging prices if other members of the Organization of Petroleum Exporting Countries…
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Oil prices inch down on high stocks, weak China factories survey
EghtesadOnline: Oil prices edged lower on Monday, undermined by a weak manufacturers survey out of China, and despite talk that OPEC-led crude oil output cuts could be extended when oil producers…
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Big Oil Heads for Back-to-Back Profit Triumphs as Fortunes Turn
EghtesadOnline: Fresh off Big Oil’s best quarter in years, Exxon Mobil Corp. and Chevron Corp. may be poised for a repeat.
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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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Russia's Oil Cuts Won't Be So Easy If OPEC Deal Is Extended
EghtesadOnline: For Russian oil companies, the historic agreement to boost prices by cutting output in conjunction with the Organization of Petroleum Exporting Countries was an easy win. Extending…
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Iranian Crude Oil at $53 Per Barrel
EghtesadOnline: Iran's crude oil traded above $53 a barrel in the week to April 14, reflecting the global confidence in a pact between OPEC and non-OPEC producers to slash supplies to boost flagging…
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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 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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OPEC Arab Producers Pushing for $60 Oil
EghtesadOnline: Some of OPEC’s biggest oil producers, including Saudi Arabia, are now targeting $60 a barrel as the level where they want to push crude prices, OPEC officials said, signaling…
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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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Saudi Arabia Likely to Back Extending Oil Output Cuts
EghtesadOnline: Saudi Arabia is likely to support extending OPEC output cuts into the second half of 2017 in an effort to boost oil prices, according to a person familiar with the kingdom’s internal…
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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 prices firm on strong demand, political uncertainty in Syria
EghtesadOnline: Oil prices were firm on Monday, supported by strong demand and political uncertainty in Syria, although another rise in U.S. drilling activity kept a lid on gains.
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Markets on Edge as US Hits Syria
EghtesadOnline: Most world stock indexes fell Friday while oil prices rose after the US fired missiles at Syria during President Donald Trump's first meeting with China's president, leaving investors…
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Oil rises after U.S. missile strike in Syria, weekly gain 3 percent
EghtesadOnline: Oil prices rose on Friday, trading near a one-month high and closing the week up 3 percent after the United States fired missiles at a Syrian government air base, raising concern…
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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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Brent Hits One-Month High
EghtesadOnline: Oil hit a one-month high near $55 a barrel on Wednesday as a drop in US crude inventories raised hopes that OPEC-led supply restraint is clearing a glut, while an outage at a…
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Oil rises to near one-month high on tightening of supplies
EghtesdaOnline: Oil climbed to a near one-month high on Wednesday on signs of a gradual tightening in global oil inventories and on concerns about a supply outage at a field in the United Kingdom's…
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Oil prices fall as U.S. rig count stokes oversupply worries
EghtesadOnline: Oil futures dipped on Monday as a higher U.S. rig count indicated rising shale output and stoked worries about global oversupply, while a stronger dollar also pressured prices.
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Oil Caps Biggest Weekly Gain in 2017 as OPEC Eyes Deal Extension
EghtesadOnline: Oil capped its biggest weekly increase this year amid speculation OPEC will extend its deal to curb output and ease a global glut.
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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 Can Wait for $70 Oil Before Re-Entering Arctic Waters
EghtesadOnline: Russia can wait for a sustained recovery in oil prices before drilling again in Arctic waters, relying for now on less costly regions even as rival producer Norway accelerates…
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Oil rises on Libyan supply disruptions, likely OPEC output cut extension
EghtesadOnline: Oil prices on Wednesday extended gains from the previous session, lifted by supply disruptions in Libya and expectations that an OPEC-led output reduction will be extended into…
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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…