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Latest Articles in opec

PM To Inaugurate India Energy Forum Next Week

India Energy Forum by CERAWeek, now in its fourth year, is hosted by IHS Markit, a world leader in critical information, analytics and solutions.

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Oil Rises 2% As OPEC Complies With Production Cuts

Brent crude futures for December delivery settled up 87 cents, or 2.05%, at $43.32 a barrel. U.S. West Texas Intermediate futures also traded higher, settling up 84 cents, 2.09%, at $41.04 a barrel.

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Global Stocks Weighed Down By Virus Angst, Lack Of Stimulus

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.5%. Stocks in China made their strongest gains in three weeks, with the CSI300 index adding 2.2%, a move led by financial companies.

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OPEC+ Panel To Meet Amid Oil Price Decline

OPEC+ producers have been reducing production since January 2017 to help support prices and reduce global oil stockpiles.

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Iraq Denies It Was Seeking Exemption From OPEC+ Oil Cuts - Ministry

Oil Minister Ihsan Abdul Jabbar was quoted as saying that he has spoken about the exemption to key OPEC oil ministers in three separate meetings, according to a local newspaper in comments reported by state news agency INA.

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PDVSA Changes Oil Deals To Include Shipping As Sanctions Bite

PDVSA has agreed since at least April with both long-term and new customers to oil deals that make the state firm responsible for transportation costs, and sometimes customs fees, according to internal documents

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Iraq Pledges To Deepen Oil Output Cuts In August, September

OPEC oil output rose by more than 1 million bpd in July as Saudi Arabia and other Gulf members ended their voluntary extra curbs on top of the OPEC-led deal

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Norway's Equinor Operating Profit Beats As Refinery And Trading Unit Shines

The Norwegian oil and gas explorer posted an 89% slump in its adjusted earnings before interest and tax (EBIT) to $0.35 billion in the April-June quarter, compared with $3.15 billion in the year-ago period.

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Oil Prices Slip After OPEC, Allies Agree To Loosen Oil Supply Curbs

OPEC+ has been cutting output since May by 9.7 million barrels per day, or 10% of global supply, but from August, cuts will officially taper to 7.7 million bpd until December.

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OPEC+ Meets To Decide On Oil Cuts Easing

The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, have been cutting output since May by 9.7 million barrels per day, or 10% of global supply, after the virus destroyed a third of global demand.

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Saudi Aramco Cuts August Heavier Crude Supply For Asian Refiners

OPEC's Joint Ministerial Monitoring Committee (JMMC) will meet on Tuesday and Wednesday to recommend the next level of cuts after compliance in the group hit 107% in June, up from 77% in May.

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Oil Prices Creep Up On Demand Recovery, Tempered By Virus Outbreaks

Brent crude futures similarly rose 1.1%, or 47 cents, to $41.52, but were also heading towards a small decline for the week.

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Oil Dives Over 5% As U.S. Crude Stocks Hit Record, COVID Cases Mount

Brent crude settled at $40.31 a barrel, down $2.32, or 5.4%. On Tuesday, Brent hit its highest price since early March

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Oil Prices Mixed As U.S. Gasoline Stocks Shrink, But Crude Stockpiles Grow

Brent crude was up 12 cents, or 0.3%, at $42.75 a barrel by 0643 GMT after falling to $42.30 earlier in the session.

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Oil Prices Steady After Navarro Walks Back From Market-Jolting Comments

Brent crude fell 26 cents, or 0.6%, to $42.82 a barrel by 0545 GMT, after earlier skidding to a session low of $42.21. U.S. oil was down 38 cents, or 0.9%, at $40.35 a barrel, having dropped to a low of $39.76.

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