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Latest Articles in opec

Saudi Arabia To Hike Oil Output Capacity By 1 Million Barrels Per Day

OPEC's concerns are that a drastic increase in oil distribution will flood global energy markets and place further pressure on prices.

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OPEC's Pact With Russia Falls Apart, Sending Oil Into Tailspin

Oil prices plunged 10% as the development revived fears of a 2014 price crash, when Saudi Arabia and Russia fought for market share with U.S. shale oil producers.

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OPEC Backs Biggest Oil Cut Since 2008 Crisis, Awaits Russia

Brent oil prices rose 0.6% on news of OPEC's plan to cut but gave up most of those gains when Russia and others suggested a deal was not in the bag.

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Oil Rises More Than 1% Ahead Of OPEC Meeting To Discuss Supply Cuts

Brent crude rose by 67 cents, or 1.3%, to $51.80 per barrel by 0436 GMT, while U.S. West Texas Intermediate (WTI) was up by 55 cents, or 1.2%, at $47.33 per barrel.

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'Avoid Hugs' - OPEC In The Time Of The Coronavirus

Health authorities in Lower Austria, the province where the airport is located, said temperatures of all passengers from Iran were checked on Wednesday and no cases were found.

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Oil Extends Gains As Hopes Of Stimulus, OPEC Cuts Offset Virus

Brent crude rose $1.26 per barrel, or 2.4%, to $53.16 per barrel by 0410 GMT. U.S. West Texas Intermediate (WTI) rose $1.24, or 2.7%, to $47.99 a barrel.

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OPEC Could Deepen Oil Supply Cuts With Or Without Russia

Saudi Arabia needs oil prices of about $80 a barrel to balance its state budget while Russia can cope with prices as low as $42.

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Oil Comes Off Lows As Hopes Of OPEC Cut, Stimulus Counter Virus Gloom

Brent crude was at $51.31 a barrel, up $1.64 or 3.3%, by 0502 GMT, off $48.40, the lowest since July 2017.

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OPEC Leaning Towards Larger Oil Cuts As Virus Hits Prices, Demand

OPEC+ panel that recommended the 600,000 bpd cut, called the Joint Technical Committee, is scheduled to convene again on March 3.

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Oil Prices Mixed As Demand Concerns Outweigh Output Cut Expectations

Brent crude fell 6 cents, or 0.1%, to $55.73 per barrel at 0735 GMT. U.S. West Texas Intermediate (WTI) was up 5 cents, or 0.1%, to $51.22 a barrel.

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Oil Prices Edge Down As Traders Assess China's Oil Demand, Await OPEC+ Cuts

Brent crude slipped to $53.63 a barrel in early Asian trade, the lowest since January 2019, before recovering to $54.37 by 0517 GMT, down 10 cents.

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Global Markets: Asia Stocks Rise, Oil Rebounds But China Virus Toll Mounts

Euro Stoxx 50 futures were down 0.19%, German DAX futures were down 0.04%, while FTSE futures were down 0.29% in a sign European equities are poised for a cautious start to trading.

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Oil Slumps Further As China Virus Spreads

U.S. crude was down by $1.24, or 2.3 per cent, to $52.95, having earlier eased to $52.15, the lowest since early October.

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Oil Jumps To Highest In More Than A Week After Libyan Shutdowns

Brent crude LCOc1 futures were up by 74 cents, or 1.1 per cent, to 65.59 by 0331 GMT, having earlier reached USD 66.00 a barrel.

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Oil Prices Rise On OPEC Deficit Forecast

Brent futures rose 28 cents, or 0.4 per cent to $64.00 a barrel, after skidding 1 per cent on Wednesday on the US stocks build-up.

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