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Latest Articles in oil prices

Oil Analysts Sceptical About Saudi-Russian 'Deal'

"The challenge in cutting is that Saudi Arabia refuses to carry the cut burden alone; it expects OPEC and its allies (OPEC+) to help, as well as other countries like the U.S. and Canada."

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Oil Crash Poses Severe Test For OPEC+ After Moscow, Riyadh Miscalculate

Oil demand has dropped by as much as 30 million barrels per day (bpd), roughly equivalent to the combined output of Saudi Arabia, Russia and the United States.

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Asian Markets Look To Follow Wall Street Rally As Oil Surges

Brent futures rose $5.20, or 21.0%, to settle at $29.94 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $5.01, or 24.7%, to settle at $25.32.

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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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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 Crash Puts Africa's Cash-Strapped Producers In Peril

Nigeria, which has cut nearly $5 billion from its budget and promised a halt to all non-essential projects, said it needs 120 billion naira ($333.33 million) to fight the coronavirus outbreak.

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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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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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Oil Markets Slump Amid Coronavirus Chaos

Brent crude futures fell $1.09, or 4%, to $25.89 a barrel by 0209 GMT. West Texas Intermediate (WTI) crude futures was down 15 cents, or 0.7%, at $22.48 a barrel.

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OPEC Supply Curbs, US Measures Could Support Oil Prices Near Term

U.S. crude oil prices rose more than $1 on Friday, extending steep gains from the previous session, after U.S. President Donald Trump said he would "get involved" in the price war at an "appropriate time".

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