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Latest Articles in OPEC

Oil Prices Edge Up Ahead Of US Inventories Data

Prices gained support last week from the OPEC+ decision to largely maintain production cuts in April. They then initially jumped on Monday, with Brent rising above $70 a barrel, after attacks by Yemeni Houthis on Saudi's oil heartland.

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India Asks Refiners To Diversify, Cut Reliance On Middle East Oil After OPEC+ Decision

India had not cancelled any shipment of crude oil from the Middle East in 2020 when oil demand collapsed due to COVID-19

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India Asks OPEC+ To Fulfill Promise Of Price Stability - Oil Minister

Rising oil prices are posing fiscal challenges for India, where heavily-taxed retail fuel prices recently touched record highs, threatening the demand-driven recovery.

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India Warns Rising Oil Prices May Dampen Global Economic Recovery

Global crude oil prices rose to their highest in about a year this week as production cuts by the Organization of the Petroleum Exporting Countries and their allies including Russia tilted the market balance towards a deficit.

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Oil Rises On US Stimulus Hopes, Tighter Market Under Biden

Brent crude settled at $56.08 a barrel, gaining 18 cents. U.S. West Texas Intermediate (WTI) crude settled at $53.24 a barrel, climbing 26 cents.

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OPEC+ Agrees Slight Easing Of Oil Cuts From January

OPEC+ had been expected to extend existing cuts until at least March, after backing down from earlier plans to boost output by 2 million bpd.

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Oil Gains As OPEC+ Resumes Output Cut Extension Talks After Impasse

Brent crude was up 21 cents, or 0.4%, at $48.46 a barrel by 0802 GMT, after gaining 1.8% on Wednesday. U.S. oil was 11 cents, or 0.2%, higher at $45.39 a barrel, having ended 1.6% higher the previous session.

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Oil Prices Slip As Surging COVID-19 Cases Overshadow Vaccine Hopes

U.S. West Texas Intermediate (WTI) crude futures were down 39 cents, or 0.9%, to $41.43 a barrel by 0039 GMT, after gaining nearly 1% on Wednesday. Brent crude was yet to trade, having risen 1.4% on Wednesday.

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Oil Prices Edge Higher Ahead Of OPEC+ Meeting, Vaccine Hopes

Brent crude futures for January rose 16 cents, or 0.4%, to $43.98 a barrel by 0104 GMT and U.S. West Texas Intermediate crude for December added 13 cents, or 0.3%, to $41.47 a barrel.

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Oil Prices Steady But Rising Infections And Oil Supply Weigh

Brent crude futures were trading down 4 cents, or 0.1%, at $42.58 a barrel by 0635 GMT, recovering ground after falling to as low as $42.19 earlier in the session.

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Oil Rises 2%, Reverses Loses As OPEC+ Addresses Market Weakness

Brent oil futures extended gains to settle up $1.08 or 2.56% at $43.30 a barrel. U.S. crude futures settled higher by 81 cents, or 2.02% at $40.97 a barrel.

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OPEC+ Meets To Review Compliance With Oil Cuts

Brent crude has been trading near a 5-month high above $45 a barrel and has more than doubled since hitting a 21-year low below $16 in April, helped in part by the OPEC+ deal.

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Oil Prices Slip As Wary Traders Eye Upcoming OPEC+ Meeting

Brent crude fell 34 cents to $37.50 a barrel, in the first day of trading in the contract with August as the front month.

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Russian Oil Output Falls Near To OPEC+ Target

Russia has pledged to reduce its crude oil output in May and June by 2.5 million bpd from a baseline of 11 million bpd.

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Rosneft Believes OPEC+ Output Cut Of 10 Million Bpd Would Rebalance Markets - Rencap

RenCap added that Rosneft may reduce its annual capital expenditure to below 700 billion roubles ($9.3 billion) from its latest estimate of 850 billion to 1 trillion roubles to support free cash flow generation.

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