Sunday 24 May 2015
 
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Opec

Saudi Arabia, partners turn down Chinese requests for extra oil

Saudi Arabia and its main Middle East Opec partners are turning down Chinese requests for extra oil as they hold back fuel for their own refineries just as demand from the world's biggest crude importer hits new records.  

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Eastern Libyan state oil firm Agoco produces 270,000 bpd

Libyan state oil company The Arabian Gulf Oil Co (Agoco), which is active in the east of the Opec member country, is producing about 270,000 barrels a day of crude, unchanged from a week ago, a company spokesman said.  

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Goldman cuts oil price forecasts for next 5 years

Goldman Sachs slashed its crude oil price forecasts for 2016 to 2020, citing improved US shale efficiency meeting global oil demand, coupled with unimpeded Opec productivity. "We see global oil demand being met by U.S. shale,

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Oil prices won't fall this year says Kuwait

Global crude oil prices are not expected to fall in the second half of 2015 and it was still too early to talk about Opec's supply decision when the group meets next in June, Kuwait's Opec governor said on Monday. "It

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Opec ‘unlikely to cut output at June meet’

The Organisation of the Petroleum Exporting Countries (Opec) is unlikely to implement a production cut at its next meeting in June, a senior Iranian official said on Monday. Asked if Opec would cut output at the upcoming June 5 me

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Iran eyes oil exports back to pre-sanctions level

Iran hopes its crude oil exports will return to pre-sanctions levels within three months once a deal with major powers to lift an oil embargo is finalised, Iran's deputy oil minister said on Monday. "We hope we can come b

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Indonesia set to rejoin Opec after 7 years

Indonesia's energy minister said yesterday that President Joko Widodo agreed to a plan for the country to rejoin Opec, seven years after Southeast Asia's biggest crude producer left the oil exporters group. "He fully

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Oil glut builds as Opec fights for market-share: IEA

A global oil glut is building as Opec kingpin Saudi Arabia pumps near record highs in an attempt to win a market-share battle against stubbornly resistant US shale production, the International Energy Agency (IEA) said.  

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Oil prices dip on oversupply, Greece worries

Oil prices eased on Tuesday as the market remained oversupplied and the dollar gained on fears that Greece would not be able to repay its debts. Greece paid about 750 million euros ($836.70 million) to the International Monetary F

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Opec unlikely to cut in June as oil rebounds

The jump in oil prices has been supported by stronger-than-expected demand growth and a slowdown in crude supply, and is likely to continue into the second half of this year, a senior Gulf Opec delegate said.   S

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