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Latest Articles in opec

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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Oil Tops $42 As OPEC+ Laggards Pledge Better Compliance

Brent crude rose $1.03, or 2.5%, to $42.54 by 0945 GMT, the highest since June 8. U.S. West Texas Intermediate (WTI) crude climbed $1.17, or 3%, to $40.01.

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OPEC+ Pushes For Compliance, Undecided On Oil Cut Extension

Oil has recovered to above $41 a barrel from a 21-year low below $16 a barrel in April, helped by OPEC+ cuts and a recovery in demand as governments ease coronavirus lockdowns.

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Oil Prices Stable Ahead Of OPEC+ Meeting

Brent crude futures were up 2 cents at $40.73 a barrel at 0725 GMT. U.S. West Texas Intermediate (WTI) crude futures dropped 14 cents to $37.82 a barrel.

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Iraq Lowers June Oil Exports, Gets Closer To OPEC+ Target

Southern Iraqi exports in the first 14 days of June averaged 2.93 million bpd, according to Refinitiv Eikon data and separate tracking by two industry sources.

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India's IOC Awards US Crude Purchase Tenders To Trafigura

IOC had sought up to 24 million barrels of U.S. crude for delivery between October 2020 and March 2021

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Iraq Cuts July Basra Crude Exports To Asia To Meet OPEC Cuts

Iraq planned to export 2.8 million bpd of Basra crude from its southern ports in June, its newly appointed oil minister said on Monday.

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Oil Falls Towards $40 As US Inventory Rise Revives Glut Worries

Brent crude fell 70 cents, or 1.7%, to $40.48 a barrel by 0820 GMT. U.S. West Texas Intermediate (WTI) dropped 98 cents, or 2.5%, to $37.96.

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