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Latest Articles in opec

Oil Rises After Month Of Steady Decline But Oversupply Still Weighs

Responding to an expected drop in demand, top exporter Saudi Arabia on Sunday slashed the September price for its light crude for Asian customers by $1.30 a barrel

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Oil Edges Away From April Lows But Oversupply Still Weighs

Oil markets have been dogged by oversupply for the last two years, which pulled down prices by as much as 70 per cent between 2014 and early 2016

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Iraq Undercuts Saudi Arabia In Q2 To Grab Top Spot In India Oil Market

OPEC's top producer has lost ground in a number of major global markets including to Russia in China, and is also facing a further threat from Iran

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Oil Bounces After Big Losses But Glut Persists

A bearish assessment of the oil market by the International Energy Agency (IEA) on Wednesday helped send both crude oil benchmarks down more than 4 per cent by the close of trading

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Oil Prices Edge Up Amid Brexit Concerns, Supply Risks

Oil prices are up almost 80 per cent from 12-year lows of around $27 for Brent and $26 for US crude in the first quarter and they are ripe for supply shocks just as the so-called Brexit vote came as a body blow to global growth hopes

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IEA Sees Global Oil Market Returning To Surplus In Early 2017

Demand growth in 2017 is likely to be flat at around 1.3 million barrels per day, the same level at which it estimates growth for this year, having revised up its May 2016 forecast of 1.2 million bpd

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OPEC Fails To Agree Policy But Saudis Pledge No Shocks

Saudi Arabia and its Gulf allies had tried to propose OPEC set a new collective ceiling in an attempt to repair the group's waning importance

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Oil Prices Tread Water Ahead Of OPEC Meeting

Despite rising output by OPEC's Middle Eastern producers, the group's overall production has remained largely flat this year

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Oil Prices Retreat From $50 On Oversupply Concerns, Stronger Dollar

Oil pushed through $50 for the first time in around seven months on Thursday after supply disruptions from Canadian wildfires and attacks in Libya and West Africa helped cut daily output by 4 million barrels

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Oil Prices Jump As Goldman Sachs Says Market Flips Into Deficit

Supply disruptions from Nigeria, Venezuela, the United States and China triggered a U-turn in the oil outlook of Goldman Sachs

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Iraq Overtakes Saudi Arabia As Top Oil Exporter To India

Saudi Arabia also lost its top spot in China last month when Russia overtook the world's biggest crude exporter due to strong purchases by Chinese independent refineries

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Oil Rises As Kuwaiti Oil Workers Strike Cuts Output For Third Day

Brent crude futures, the global benchmark, traded at $43.31 a barrel at 0828 GMT, 40 cents above Monday's close. US crude futures were up 33 cents at $40.11 a barrel.

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Oil Prices Rise As Kuwait Oil Strike Diminishes Supply

Kuwaiti officials said they would be able to hike output, despite the open-ended strike, by using crude from inventory and by taking legal action against unions

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Sudden Sobriety Of Oil-Addicted Nations

A glance at Panama Papers will point to the broken Western systems, panic at the world’s top institutions and drifting public opinions on national credibility

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Oil Meet In Qatar Collapses Without Freeze As Iran Absent

The idea of a freeze and not a cut initially looked more palatable to producers already suffering after oil's dramatic fall since the summer of 2014, when prices were above $100 a barrel

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