Sunday 21 December 2014
 
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Oil demand

Brent plunges to $80 as Saudi stays mum on output cut

Brent crude traded around $80 a barrel on Thursday, near its lowest since 2010, after Opec said demand for its oil would fall next year, while Saudi Arabia remained silent about a possible cut in production. Global demand for oil

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Opec predicts stronger oil demand this year

World oil demand will rise slightly more than expected in 2014, Opec said, becoming the second major forecaster this week to predict higher fuel use as economic growth picks up in Europe and the US. The Organization of the Petrole

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Oil demand 'will rise quickly as growth picks up'

Global oil demand will increase more quickly this year as economic growth accelerates, outstripping supply even as shale oil production in the US reaches record highs, the West's energy watchdog said on Tuesday. The Internatio

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Global oil demand growth 'gaining momentum'

Surging oil demand and faltering supplies mean oil prices face upside risks over the next few months, the West's energy watchdog said. The International Energy Agency (IEA) said in its monthly report that after eight consecuti

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Global surplus oil capacity inches up in Oct

Global spare crude oil production capacity rose slightly in September and October as Saudi Arabia trimmed output on lower power plant demand, said the US Energy Information Administration in its report. The spare output capacity,

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Opec sees stronger oil demand growth in H2

World oil demand will grow more quickly in the rest of 2013 than during the first half due to economic recovery and higher seasonal consumption, Opec said on Tuesday. The Organisation of the Petroleum Exporting Countries (Opec) in

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Bahrain GDP 'growth to top 5pc this year’

Bahrain's gross domestic product (GDP) is expected to grow more than five per cent this year, said the chief economist of Bahrain Economic Development Board. Dr Jarmo Kotilaine said the oil sector normalisation is likely to be

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Opec sees higher oil demand in second-half 2013

The Opec will need to pump more oil than previously thought to balance the market in 2013 and expects global consumption to be much higher in the rest of the year, the group said in a report ahead of its meeting to set policy on May 31.

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Top analysts cut 2013 oil demand growth estimates

The International Energy Agency (IEA) trimmed its estimate for growth in oil demand in 2013, becoming the third of the world's top oil forecasters this week to predict weaker consumption due to subdued economic growth. World o

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Opec trims 2013 oil demand growth

Oil producer group Opec on Wednesday trimmed its forecast for global growth in oil demand in 2013, citing weaker-than-expected consumption in Europe and Japan. The Organization of the Petroleum Exporting Countries in a monthly rep

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