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OPEC sees slower 2019 global oil demand growth, warns on economy

OPEC sees slower 2019 global oil demand growth, warns on economy

Wed, Sep 12, 2018

In a monthly report, the Organization of the Petroleum Exporting Countries said world oil demand next year will rise by 1.41 million barrels per day, 20,000 bpd less than last month and the second consecutive reduction in the forecast.

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Oil rises as Saudi output dips, US drilling stalls

Oil rises as Saudi output dips, US drilling stalls

Mon, Aug 06, 2018

Spot Brent crude oil futures were at $73.42 per barrel at 0653 GMT on Monday, up 21 cents, or 0.3 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were up 19 cents, or 0.3 percent, at $68.68 barrel.

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Oil prices drop on oversupply concerns as OPEC output increases in July

Oil prices drop on oversupply concerns as OPEC output increases in July

Tue, Jul 31, 2018

September Brent crude futures fell 25 cents, or 0.3 percent, to $74.72 a barrel by 0654 GMT after rising nearly 1 percent on Monday. The September contract expires later on Tuesday and the more-active October contract was down 0.3 percent at $75.35.

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Iran becomes India's No. 2 oil supplier, ahead of Saudi Arabia

Iran becomes India's No. 2 oil supplier, ahead of Saudi Arabia

Tue, Jul 24, 2018

Dharmendra Pradhan told lawmakers that India, Iran’s top oil client after China, shipped in 5.67 million tonnes or about 457,000 barrels per day ( bpd ) of oil from the country in the first three months of this fiscal year. 

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OPEC deal does not give the right to pump oil above target: Iran tells Saudi Arabia

OPEC deal does not give the right to pump oil above target: Iran tells Saudi Arabia

Mon, Jul 16, 2018

Iranian OPEC Governor Hossein Kazempour Ardebili is due to attend a meeting for a joint OPEC, non-OPEC monitoring committee in Vienna on Wednesday, two OPEC sources said. The committee, known as the JTC and chaired by Saudi Arabia, looks at the compliance level to the production pact.

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'US to become global leading producer of crude oil'

'US to become global leading producer of crude oil'

Wed, Jul 11, 2018

The US Energy Information Administration (EIA) has said the United States will become the world`s leading producer of crude oil if the output remains the current momentum.

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Oil rises to $79 a barrel on Norway strike, Libyan disruption

Oil rises to $79 a barrel on Norway strike, Libyan disruption

Tue, Jul 10, 2018

Oil prices rose by over 1 percent towards $79 per barrel on Tuesday due to growing supply outages, with Norway shutting one oilfield as hundreds of workers began a strike and Libya saying its production more than halved in recent months.  

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Oil steadies as drilling increases in tight market

Oil steadies as drilling increases in tight market

Mon, Jul 09, 2018

Oil prices steadied on Monday as an increase in U.S. drilling, likely to lead to higher shale production, balanced evidence of tightening supply. Benchmark Brent was up 40 cents at $77.51 a barrel by 0850 GMT. U.S. crude was down 30 cents at $73.50.  

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Iranian oil minister calls Trump''s order to OPEC insulting

Iranian oil minister calls Trump''s order to OPEC insulting

Sat, Jul 07, 2018

Trump on Wednesday accused the Organization of the Petroleum Exporting Countries of driving fuel prices higher, and urged Saudi Arabia to pump more if it wanted  Washington to continue protecting it against its top rival Iran. 

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Iran to Donald Trump: Oil will cost $100 per barrel, and it is your fault

Iran to Donald Trump: Oil will cost $100 per barrel, and it is your fault

Fri, Jul 06, 2018

Donald Trump again accused the Organization of the Petroleum Exporting Countries of driving fuel prices higher on Wednesday, and urged US allies such as Saudi Arabia to pump more if they wanted Washington to continue protecting them against their top foe Iran.

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Oil near 3-1/2-year high despite President Trump demand that OPEC cut prices

Oil near 3-1/2-year high despite President Trump demand that OPEC cut prices

Thu, Jul 05, 2018

Trump again on Wednesday accused the Organization of the Petroleum Exporting Countries of driving up fuel prices. "The OPEC Monopoly must remember that gas prices are up & they are doing little to help," Trump wrote on his personal Twitter account. "If anything, they are driving prices higher as the United States defends many of their members for very little $`s."

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Oil rises as outages balance trade dispute, OPEC

Oil rises as outages balance trade dispute, OPEC

Tue, Jun 26, 2018

Oil prices rose on Tuesday, supported by Canadian production losses and uncertainty over Libyan exports, but under pressure from climbing OPEC supply and intensifying trade conflicts between the United States and other major economies.  

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Oil drops after OPEC+ output deal, but markets to stay tight

Oil drops after OPEC+ output deal, but markets to stay tight

Mon, Jun 25, 2018

Brent crude oil fell 1 percent on Monday as investors prepared for an extra 1 million barrels per day (bpd) in output to hit the markets after OPEC and its partners agreed to raise production.  

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Oil up on OPEC meeting uncertainty; trade disputes keep markets on edge

Oil up on OPEC meeting uncertainty; trade disputes keep markets on edge

Fri, Jun 22, 2018

Oil prices rose by around 1 percent on Friday, lifted by uncertainty over whether OPEC would manage to agree a production increase at a meeting in Vienna later in the day. Brent crude oil futures were at $73.78 per barrel at 0502 GMT, up 73 cents, or 1 percent, from their last close.

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Oil options show bulls and bears on edge over OPEC meet

Oil options show bulls and bears on edge over OPEC meet

Fri, Jun 22, 2018

The Organization of the Petroleum Exporting Countries meets in Vienna to discuss its existing policy to curtail crude output by 1.8 million barrels per day, jointly with several non-member nations, including Russia and Oman.

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Oil prices drop as Iran signals support for OPEC output rise

Oil prices drop as Iran signals support for OPEC output rise

Thu, Jun 21, 2018

Oil prices fell on Thursday as Iran signalled it could be won over to a small rise in OPEC crude output, potentially paving the way for the producer cartel to agree a supply increase during a meeting on Friday.  

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Energy guzzler India urges OPEC to tackle high oil prices

Energy guzzler India urges OPEC to tackle high oil prices

Wed, Jun 20, 2018

India, the world`s third-biggest oil consumer  and  importer, on Wednesday urged OPEC nations to fill a supply gap and ensure sustainable oil prices as politics affect the output of some producers.

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Oil prices gain on lower US inventories, ahead of OPEC meeting

Oil prices gain on lower US inventories, ahead of OPEC meeting

Wed, Jun 20, 2018

US crude inventories fell by 3 million barrels to 430.6 million barrels in the week to June 15, according to American Petroleum Institute (API) in a weekly report on Tuesday. Brent crude futures rose 40 cents, or 0.5 percent, to $75.48 per barrel at 0653 GMT, compared with their last close on Tuesday.

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Oil up on U.S. stocks, Libya ahead of OPEC meeting

Oil up on U.S. stocks, Libya ahead of OPEC meeting

Wed, Jun 20, 2018

Oil prices rose on Wednesday, supported by a drop in U.S. commercial crude inventories and the loss of storage capacity in Libya, with investors cautious ahead of a biannual meeting of OPEC exporters to decide production policy.

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OPEC braces for tough Vienna talks on hiking oil output

OPEC braces for tough Vienna talks on hiking oil output

Wed, Jun 20, 2018

The upcoming June 22-23 meetings of OPEC and non-OPEC energy ministers are set to be the most contentious in a while, with several countries bristling at the thought of reversing a deal that has been in place for 18 months and helped lift oil prices to multi-year highs.

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