Thursday 27 November 2014
 
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Crude

South Korea makes $500m oil payment to Iran

South Korea has transferred $500 million to Iran to pay for crude oil imports under an interim nuclear deal that provides limited relief from sanctions, two sources with direct knowledge of the matter said.   The

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Opec panel reviews oil outlook in a start to talks on oversupply

A panel of national representatives reviewed Opec's oil market outlook for 2015, Opec sources said, preparing the ground for a policy-setting meeting Thursday that will decide how to address a looming oversupply of crude. &nbs

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Oil rises to $81 on China rate cut, possible Opec move

Brent crude oil rose to near $81 a barrel on Friday after China cut interest rates and on speculation that Opec could agree next week to reduce oil production. China's central bank cut its benchmark interest rates for the firs

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Yemen government oil export revenues fall

Yemeni government revenues from crude oil exports dropped almost 35 per cent in the first nine months of 2014 to $1.34 billion from $2.04 billion the same period a year earlier, official figures published showed.  

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UAE committed to supplying market with crude needs

The UAE oil minister said the Gulf state was committed to supplying the market‎ with its crude needs and that the Opec member did not have a target for oil prices.   "We will not fall short from meeting

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India's October Iran oil imports rise 60 pc

India bought 60 per cent more Iranian oil in October than a year ago as refiners held to higher volumes despite signs that world powers and Iran might not reach a final agreement on Tehran's disputed nuclear programme before a November 24

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Brent edges above $78, still near 4-year low

Brent crude edged above $78 a barrel on Friday but remained close to a four-year low because of concern over excess supply and uncertainty over whether oil cartel Opec would cut production at a meeting in two weeks. Saudi Arabian

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Opec sees lower 2015 demand for its oil

Global demand for oil from Opec next year will be far below its current output level because of the US shale boom, the group said on Wednesday, as its top producer, Saudi Arabia, kept silent on whether it will cut output to remove surplus oil fr

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Oil steadies below $83 as dollar hits 4-year high

Brent crude oil steadied below $83 a barrel on Friday, consolidating after several months of sharp falls as the dollar hit a four-year high ahead of US jobs figures. US non-farm payrolls data were due at 8:30 am EST (1330 GMT) on

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Brent drops toward $82 on weak China data, supply glut

Brent crude dropped towards $82 a barrel on Wednesday, stretching losses into a fifth session, as weak economic data from top energy consumer China stoked worries about demand in a market that is already battling a deepening global supply glut.

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