Sunday 21 December 2014
 
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Oil

Current oil prices to help global economic growth, says Naimi

Saudi Arabia's oil minister on Sunday defended Opec's decision to keep output steady despite the biggest market slump in years, saying current prices would help global economic growth and petroleum demand, while Arab states would escape

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UAE slams 'irresponsible' non-Opec producers

One of the biggest reasons for the slide of oil prices is the "irresponsible" supply from producers outside Opec, the United Arab Emirates oil minister said in a speech on Sunday. Suhail Bin Mohammed Al Mazroui was addre

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Saudi oil supplies to China seen flat for 2nd year

Saudi Aramco is expected to keep crude oil supply to China under an annual contract largely unchanged next year, the second year of flat demand as Chinese refiners anticipate ample supplies in the spot market and lack of new refining capacity.

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Brent steady below $60, heads for 4th weekly decline

Brent crude held below $60 a barrel, near a 5-1/2-year low, on Friday as a global oversupply of oil showed little sign of receding, even as companies cut upstream investments next year. Oil prices were on track for a fourth straig

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Brent steady below $60, heads for 4th weekly decline

Brent crude held below $60 a barrel, near a 5-1/2-year low, on Friday as a global oversupply of oil showed little sign of receding, even as companies cut upstream investments next year. Oil prices were on track for a fourth straig

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Opec can't cut alone but others would not, says Naimi

Saudi Arabia's powerful oil minister said on Thursday that Opec could not cut output without the support of other big producers and attempts to get them on board had not worked. Al Naimi said it was impossible for Opec to cut

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Kurdistan says oil exports could total 800,000 bpd next year

Iraq's semi-autonomous Kurdistan Regional Government will ramp up oil exports in the coming months, moving it closer to economic self-sufficiency while it works to clinch a final deal with Baghdad on crude sa

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Gulf markets surge on stronger oil

Stock markets in Saudi Arabia and the UAE soared on Thursday after the price of oil rebounded and the Riyadh government eased investors' fears by saying it would continue spending heavily on economic development. Saudi Arabia&

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UAE ‘can keep spending despite plunge in oil prices’

The large fiscal reserves which the United Arab Emirates has built up will allow it to keep spending on development projects in coming years despite the recent plunge in oil prices, the economy minister said. Although some people

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Dubai, other Gulf markets rebound on stronger oil

Several Gulf stock markets, led by Dubai, rose in early trade on Monday after the price of oil recovered slightly. Brent crude climbed above $62 per barrel on Monday, after hitting 5-1/2-year lows of $60.28 earlier, as traders beg

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