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organisation of petroleum exporting countries News
organisation of petroleum exporting countries
Oil prices firm on expected OPEC cut extension
Wed, Nov 22, 2017
Oil prices firmed on Wednesday after a reported fall in U.S. crude inventories and on expectations that an OPEC-led production cut aimed at tightening the market will be extended beyond March 2018.
Oil climbs for sixth day, near eight-week highs on U.S. crude stock declines
Fri, Jul 28, 2017
Oil prices extended a rally into a sixth day on Friday, hovering near 8-week highs on a decline in U.S. inventories and OPEC`s ongoing efforts to curb production to ease a global glut.
Oil markets remain cautious on record supplies
Fri, Apr 21, 2017
Oil opened the last day of a choppy trading week on a cautious note over doubts that an OPEC-led production cut was having the desired effect of restoring balance to a market that has been dogged by oversupply for more than two years.
Oil prices rise on prospect that Saudi Arabia seeking output cut extension
Wed, Apr 12, 2017
Oil prices rose on Wednesday, putting crude futures on track for their longest streak of gains since August 2016, as Saudi Arabia was reported to be lobbying OPEC and other producers to extend a production cut beyond the first half of 2017.
Oil prices dip as oversupply concerns linger
Fri, Apr 07, 2017
Oil prices dipped on Friday as ongoing concerns about oversupply outweighed an OPEC-led production cut and strong refinery activity. Brent crude futures , the international benchmark for oil, were at $54.85 per barrel at 0109 GMT, down 4 cents from their last close.
OPEC oil output falls from record high ahead of planned cuts: Reuters survey
Thu, Jan 05, 2017
OPEC`s oil output in December fell from a record high ahead of a deal to cut production, a Reuters survey found on Thursday, helped by attacks on Nigeria`s oil industry and top exporter Saudi Arabia trimming exports.
Oil prices up in quiet session as year-end approaches
Fri, Dec 23, 2016
Oil prices rose in subdued trading on Thursday, supported by strong U.S. economic data and optimism that crude producers would abide by an agreement to limit output.
Entire oil futures curve moves above $50 as financial confidence in crude rises
Fri, Oct 07, 2016
US oil futures held above $50 per barrel on Friday as the entire crude forward curve pushed above that level in a sign that financial markets have increasing confidence in the sector.
Russia aims to keep oil output around current level after OPEC deal
Thu, Sep 29, 2016
Russia is aiming to keep its oil production at near-record levels despite OPEC's decision to modestly reduce its output, Russian Energy Minister Alexander Novak said on Thursday.