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Latest Articles in crude oil

Oil Jumps As Trump Talks Up Truce Hopes For Saudi-Russia Price War

U.S. crude stockpiles rose 13.8 million barrels in their biggest weekly increase since 2016 and analysts expected stocks to keep rising as refineries curb output and gasoline demand falls.

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Dipping Domestic Gas And Crude Oil Prices A Double Whammy For Upstream Producers: ICRA

As per an ICRA note, the decline in domestic gas price is in line with the fall in global gas indices over the reference period.

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Saudi Oil Supply Hits Record High Despite US Pressure

Crude oil benchmarks ended a volatile first quarter with their biggest losses in history. On Wednesday, oil slid towards $25 a barrel, after touching its lowest level in 18 years.

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BP Cuts Spending By Quarter, Lowers US Shale Output

BPX output will drop by around 70,000 barrels of oil equivalent per day (boepd) in 2020, around 14% lower than its 2019 output of 499,000 boepd.

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Oil Majors Slash 2020 Spending By 20% After Prices Slump

BP cut its 2020 spending plan by 25% and will reduce output from its U.S. shale oil and gas business, it said on Wednesday.

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Oil Ends March With Biggest Monthly And Quarterly Losses Ever

Forecasters at major merchants and banks see demand slumping by 20% to 30% in April, and for weak consumption to linger for several months.

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Crude Rises After US, Russia Agree To Oil Market Talks

Brent crude was up by 19 cents, or 0.8%, at $22.95 a barrel by 0051 GMT, after closing at $22.76 in the previous session, the lowest close since November 2002.

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Oil Futures Slide As Pandemic Darkens Demand Outlook

Brent futures were down 5.8%, or $1.45, to $23.48 a barrel as of 0623 GMT, after earlier dropping to $23.03, the lowest since November 2002.

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Crude Oil Futures Drop As Pandemic Darkens Demand Outlook

Brent futures were down 6.7%, or $1.68, to $23.25 a barrel as of 0249 GMT, after earlier dropping to $23.03, the lowest since November 2002.

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Oil Mixed As Government Pledges Reach $5 Trillion In Coronavirus Chaos

Brent crude was down 34 cents, or 1.2%, at $26 a barrel by 0726 GMT. U.S. crude was up 8 cents, or 0.4%, at $22.68.

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Global Oil Refiners To Deepen Output Cuts As Virus Destroys Demand

China, which restarted its economy after weeks of lockdown, is an outlier with its refining sector showing signs of recovery amid a decline in the number of new virus cases.

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US Crude Stockpiles Rise, Fuel Demand Drops As Virus Effects Start To Hit: EIA

U.S. crude futures were down 14 cents to $23.88 a barrel by 11:25 a.m. ET (1525 GMT), while Brent fell 3 cents to $27.12 a barrel.

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Oil Extends Gains As Optimism Over US Stimulus Lifts Global Markets

U.S. crude rose to a high of $25.24 a barrel early in the session and was at $24.86 a barrel, up 85 cents, or 3.5%, at 0732 GMT.

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Big Oil May Have To Break Dividend Taboo As Debt Spirals - Investors

The top five so-called oil majors have avoided reducing dividends for years to keep investors sweet and added a combined $25 billion to debt levels in 2019 to maintain capital spending.

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Indian State Refiners Cut Runs On Weak Demand

Top refiner Indian Oil Corp has cut refinery runs by an average 15%-20%, sources familiar with the matter said.

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