oil prices
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Kuwait Says Oil at $50-$55 a Barrel Puts Producers in Good Spot
EghtesadOnline: Oil at $50 to $55 a barrel would put producers in a “good position” with stockpiles expected to fall later this year, according to Kuwait’s Oil Minister Issam Almarzooq.
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Oil Drops as Producers Say They Need More Time to Cut Stockpiles
EghtesadOnline: A pledge by crude producers to consider extending their output-cut deal failed to excite oil bulls, with prices dropping as more time was seen needed to trim swollen global stockpiles.
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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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Oil Falls Amid Record U.S. Stockpiles, Upcoming Producer Talks
EghtesadOnline: Oil dropped as U.S. crude supplies rose to an all-time high while investors await a meeting between OPEC and its allies that may signal whether they’ll extend output curbs.
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Oil Drops for Week on U.S. Supplies Before OPEC, Allies Meet
EghtesadOnline: Crude oil had its third weekly loss in a month as OPEC and its allies prepared to meet for a review of their production cuts, while swelling U.S. stockpiles indicated the measures…
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OPEC Be Warned: Russia Battens Down the Hatches for Oil at $40
EghtesadOnline: Perhaps the Bank of Russia knows something the world doesn’t. As the Organization of Petroleum Exporting Countries and its allies prepare to meet for a review of their production…
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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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U.S. supply concerns keep oil prices under pressure
EghtesadOnline: Oil prices slipped on Monday despite news that OPEC was supportive of extending a six-month deal to cut output as investors continue to grapple with worries about growing U.S.…
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Crude Retreat Weighs on U.S., European Equities
EghtesadOnline: U.S. stocks slipped with European equities as oil fell toward $48 a barrel, with investors digesting fresh signs that the U.S. intends to rewrite the terms of global trade. The…
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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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Wall Street opens higher as oil rebounds; Fed eyed
EghtesadOnline: U.S. stocks opened slightly higher on Wednesday as oil prices rebounded and investors counted down to the conclusion of the Federal Reserve's two-day meeting, where the central…
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Oil Stocks Rise Regardless of Supply Adjustments
EghtesadOnline: OPEC said on Tuesday oil inventories had continued to rise despite the start of a global deal to cut supply and raised its forecast of production in 2017 from outside the group,…
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How Slipping Oil Prices Are Hurting the Global Reflation Rally
EghtesadOnline: The global market rally is facing a familiar nemesis: feeble oil prices. In the latest blow, Saudi Arabia announced Tuesday that it raised output back above 10 million barrels…
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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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Oil prices hit 3-month low as U.S. rig count climbs
EghtesadOnline: Oil prices dropped to their lowest in three months on Monday despite OPEC efforts to curb crude output, dragged down as U.S. drillers kept adding rigs.
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Asian Stocks Gain, Oil Slides Before Fed and BOJ
EghtesadOnline: Asian equities rose and the dollar weakened as a positive U.S. jobs report helped investors position for a week of central bank policy decisions from Japan to the U.S. Oil slid…
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Dollar firm in Asia, resource shares on the run
EghtesadOnline: The dollar stood firm in Asia on Thursday and bond yields spiked after super-strong U.S. jobs data made a rate hike a near certainty, while oil struggled to find its footing after…
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Surprise Oil Price Cut Shows Saudis Are Trying to Fend Off U.S. Sweet Crude
EghtesadOnline: The oil is light, sweet and tempting, with a lot of it made in the U.S. Saudi Arabia’s trying to keep it away from the biggest crude buyers.
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Saudi Arabia, Russia Offer United Front on Oil Production Cuts
EghtesadOnline: Saudi Arabia and Russia, the architects of an oil production cut that has stabilized prices, presented a united front on compliance just as rising U.S. inventories have sparked…
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Oil prices hold steady for third day; eyes on economic data
EghtesadOnline: Oil prices were little changed for a third session on Tuesday, with investors searching for direction as concern over rising U.S. shale output offsets production cuts by OPEC…
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IEA Sees Oil Investment Revival After a Two-Year Rout
EghtesadOnline: Oil companies are reviving investment after a two-year rout as OPEC output cuts boost prices, easing but not eliminating the risk of a future supply crunch, the International…
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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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Saudi Arabia wants oil prices to rise to around $60 in 2017 - sources
EghtesadOnline: Saudi Arabia wants crude oil prices to rise to around $60 a barrel this year, five sources from OPEC countries and the oil industry said.
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Oil ticks up on supply cuts, but rising U.S. output caps gains
EghtesadOnline: Oil prices edged higher on Monday, with Brent oil set to rise for five out of seven sessions as a global supply glut appears to ease, but rising U.S. production limited gains.
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Oil Prices Slip 1 Percent
EghtesadOnline: Oil prices fell about 1% on Friday as worries about rising US supplies outweighed OPEC pledges to boost compliance with output curbs.
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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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Asia Stocks Gain Even as Topix Swings, Yen Rises
EghtesadOnline: Asian stocks rose even as Tokyo shares wrestled with a strengthening yen, as markets from Hong Kong to Singapore advanced after U.S. shares reached fresh records. The dollar fell…
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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…
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Crude Oil Could Plunge to as Low as $30 a Barrel
EghtesadOnline: Crude prices could plunge toward $30 a barrel -- a rout of about 40 percent from current levels -- unless OPEC extends production cuts that are propping up the market, ABN Amro…