Sunday 22 January 2017
 
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Opec

Iran's 9-month oil revenues top $29bn

Iran's oil revenues have reached $29 billion in the first nine months of the current Iranian calendar year ending March 20, according to a top official with the Petroleum Ministry. Iran's exports of oil and oil condensates

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Oil surges as Opec members stick to output pledge

Oil futures edged higher on Wednesday, rebounding from the prior day’s sharp selloff on signs that major oil producers are sticking to their pledge to cut output. February West Texas Intermediate crude CLG7  rose 14 cen

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Crude oil falls 2pc from 18-month high

Oil prices dropped more than 2 percent on Wednesday from the 18-month highs hit on Tuesday as the US  dollar strengthened. Brent futures fell $1.35, or 2.4 percent, to settle at $55.47 a barrel, while US West Texas Intermedia

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Crude oil falls 2pc from 18-month high

Oil prices dropped more than 2 per cent on Wednesday from the 18-month highs hit on Tuesday as the US  dollar strengthened. Brent futures fell $1.35, or 2.4 percent, to settle at $55.47 a barrel, while US West Texas Intermedi

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Oil surges over $55, investors remain optimistic

Oil prices edged up slightly on Tuesday in pre-New Year holiday trading, hitting $55.70 a barrel even as the market stuck to an optimistic view ahead of a landmark effort by oil producers to reduce global supply. Markets were trea

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Oil soars above $52 as Libyan production hit

Oil extended its gains above $52 a barrel as a planned production boost from Libya stalled amid continuing tension in the Opec (Organization of Petroleum Exporting Countries) member exempt from agreed output cuts, said a report. O

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Oil market could move into deficit in early 2017: IEA

If Opec sticks to its production target, assessed at 32.7 million barrels per day (mbpd), and non-Opec producers deliver the agreed cuts of 558,000 barrels per day outlined on December 10, then the market is likely to move into deficit in the fi

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Opec to push for non-member oil production cuts

The Opec (Organisation of the Petroleum Exporting Countries) will seek to persuade the non-Opec nations to cut production at its crucial meeting in Vienna on Saturday as part of a newly struck global agreement to stem a crude glut and lift painf

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Saudi leads positive regional markets

All of the regional markets ended their trading activity over the course of last week in the positive territory with Saudi Arabia leading with a rise of 4.37 per cent, while breaking its 7,000-resistance level, a report said. The

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Brent soars above $52 after Opec deal

Oil prices soared today following a decision by Organization of the Petroleum Exporting Countries and Russia to cut output in a bid to boost oil price. US crude oil gained 9 percent to reach $50 a barrel for the first time since l

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