Wednesday 30 July 2014
 
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Opec

Oil prices 'may go up on tighter supplies'

Opec and non-Opec oil supply growth will reduce over the next 18 months, a report said, with the average Brent prices for 2014 and 2015 ranging from $106 to $109 and from $103 to $108/bbl, respectively. In a new forecast, the BofA

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Oil demand to rise, price to average $109: Report

Oil demand is expected to rise in the third quarter of this year due to the summer peak season and a sustained recovery in the US economy plus steady growth in China, a report said. Non-Opec supply will exceed global demand growth

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Opec sees oil market share shrinking in 2015

Opec expects its share of the world oil market to shrink in 2015 for a third year running, due in part to the US shale oil boom, giving the exporter group little comfort from an acceleration in global demand. Making its first 2015

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Opec oil output slips by 70,000 bpd in June

Opec's oil output has fallen in June from May's three-month high, a Reuters survey found on Monday, as fighting in Iraq closed its largest oil refinery and technical problems slowed its southern exports. The slight decline

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No shortage of oil, says Opec chief

Opec is ready to pump extra oil in the event of any supply disruptions caused by Iraq and its biggest producer, Saudi Arabia, can ramp up to capacity if needed, oil officials said on Tuesday. For now the market is well-supplied an

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Opec oil demand to shoot up in 2014: IEA

The Organisation for Petroleum Exporting Countries (Opec) will have to produce a million barrels per day (bpd) more oil on average in the second half of 2014 to balance the global market, which will see a steep seasonal spike in demand, the West

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Saudi wants just one Opec meeting a year

Saudi Arabia has suggested the Organisation for Petroleum Exporting Countries (Opec) meet just once a year, rather than twice, a sharp reduction from the days when the group met for up to seven times a year in the early 2000s. The

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Opec sees oil market balanced for rest of the year

Oil markets should be balanced during the second half of this year with extra production sufficient to meet growing demand, Opec said on Thursday, suggesting oil prices may be fairly stable despite worries over lost supply.  

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For a change, all 'happy, happy' at Opec

Opec sailed through a brief, calm meeting on Wednesday - even as oil prices rose to $110 on barrel on concern renewed strife could hit Iraq's output and deepen a supply shortfall from chaotic Libya and sanctions-bound Iran. Oi

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For a change, all 'happy, happy' at Opec

Opec sailed through a brief, calm meeting on Wednesday - even as oil prices rose to $110 on barrel on concern renewed strife could hit Iraq's output and deepen a supply shortfall from chaotic Libya and sanctions-bound Iran. Oi

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