Saturday 1 November 2014
 
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Opec

Opec oil output falls by 120,000 bpd in October

The oil supply of Organization of the Petroleum Exporting Countries (Opec) in October has fallen by 120,000 barrels per day (bpd) due to lower production in Angola and Nigeria, a Reuters survey found, although recovery in Libya and growth in Ira

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Oil falls for fourth month, longest slump since 2008

Oil's losing streak continued for the fourth consecutive month on Friday, with prices tumbling as another round of monetary stimulus from Japan pumped up the US dollar and pounded a crude market already suffering from robust supply.

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Don't panic, Opec boss says after oil price fall

There is no need to panic at the recent collapse in oil prices, the secretary general of Opec said on Wednesday, saying low prices would curb competing supplies and require the group to pump far more by the end of the decade. Abdu

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Oil falls towards $85 amid supply glut

Brent crude extended its decline to a third day, dropping towards $85 a barrel on Tuesday, still under pressure from a Goldman Sachs report that slashed the investment bank's oil price forecasts amid a global supply glut. Citi

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Oil drops below $86 after Goldman cuts price forecast

Brent crude futures extended declines to below $86 a barrel on Monday after Goldman Sachs cut its price forecasts for the contract and for US oil by $15 in the first quarter of next year. The US investment bank said in a research

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Opec needs oil cut of at least 500,000 bpd: Libya

Opec should cut its oil output by at least 500,000 barrels per day (bpd), a Libyan oil official said, to tackle oversupply and support prices that have slid to a four-year low.    The 12-member Organization

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Oil analyst Horsnell sees no Saudi price war

Standard Chartered Bank oil analyst Paul Horsnell, renowned for having called the market's long rally a decade ago, is back, and sticking with a more bullish bias even as prices slump to four-year lows.   Hor

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Oil holds above $86 as buyers slowly return

Brent crude futures steadied above $86 a barrel on Wednesday, clinging to gains from the previous session as buyers gradually returned to a market hammered to four-year lows by abundant supply. Expectations that oil demand may pic

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Saudi August oil exports lowest in three years

Saudi crude exports fell in August for the fourth month in a row to their lowest levels in three years, official data showed on Monday, as the top oil exporter fights for market share amid weak demand and ample supplies from rival producers.

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In shift, Opec price hawk Iran says can live with lower oil

Iran, in a change of tack, is saying it can live with lower oil prices, moving closer to the views of Saudi Arabia and other Gulf Opec members and reducing the likelihood of any collective cut in Opec output to support prices. &nb

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