Wednesday 24 August 2016
 
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Opec

Iran signals willingness for Opec action

Iran is sending positive signals that it may support joint action to prop up the oil market, sources in Opec and the oil industry said, potentially aiding efforts to revive a global deal on freezing production levels at talks next month.

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Oil slips below $49 as producer action hopes recede

Oil fell below $49 a barrel on Tuesday, giving up part of August's strong rally, as signs of rising supply outweighed hopes that producing nations will agree steps to support prices. A Nigerian militant group, which has claime

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Oil slips below $49 as producer action hopes recede

Oil fell below $49 a barrel on Tuesday, giving up part of August's strong rally, as signs of rising supply outweighed hopes that producing nations will agree steps to support prices. A Nigerian militant group, which has claime

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Oil falls as Sachs warns on oversupply

Oil prices fell early on Tuesday as analysts including Goldman Sachs warned that August's price rally had been overdone, and that a proposed oil production freeze at current near record levels would not help rein in an oversupplied market.

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Oil falls as Sachs warns on oversupply

Oil prices fell early on Tuesday as analysts including Goldman Sachs warned that August's price rally had been overdone, and that a proposed oil production freeze at current near record levels would not help rein in an oversupplied market.

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Nigeria oil minister says Opec cuts unlikely

Nigerian oil minister Emmanuel Ibe Kachikwu said that while a cut in the Organization of the Petroleum Exporting Countries (Opec) production is unlikely, there is hope a meeting of producers in Algeria next month could help shore up crude pric

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Oil dips on prospect of record Saudi output

Oil prices dipped in early trading on Thursday as the prospect of record Saudi output weighed on markets and as traders cashed in on profits following an almost uninterrupted price rally this month of nearly 20 percent. Internatio

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Saudi signals it may hit new oil output record

Saudi Arabia is sending signals that it could boost its crude oil supplies in August to a new record level, overtaking Russia, the world's top oil producer, as it gets ready for tough talks next month for a global output freeze pact.

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Deal or no deal? Oil markets focus on Algeria meeting

Opec and non-Opec countries are again flirting with the idea of a production freeze to accelerate oil-market rebalancing, according to recent statements by several oil ministers. "Rebalancing is already taking place," Sa

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Oil falls on doubts producers can agree output cut

Oil prices fell away from 5-week highs early on Wednesday, as analysts doubted possible producer talks to rein in ballooning oversupply would be successful. Brent crude futures LCOc1 were trading at $48.92 per barrel at 0158 GMT,

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