Tuesday 9 February 2016
 
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Oil

IEA sees global oil glut worsening

The world will store unwanted oil for most of 2016 as declines in US output take time and Opec is unlikely to cut a deal with other producers to reduce ballooning output, the International Energy Agency said. The agency, which coo

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Oil falls ahead of key producer meeting

Oil prices ended the week lower in choppy trading on Friday, snapping two weeks of gains, as a frenzy of speculation about a possible deal between top oil producers clashed with concerns about a growing supply glut. After a volati

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Glencore loads Iranian fuel oil from Bandar Mahshahr

Anglo-Swiss commodity trader Glencore has chartered a ship to load Iranian fuel oil at the Iranian port of Bandar Mahshahr in a move that signals the return of legitimate Iranian crude and oil products to international markets. &n

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Oil steadies, weak fundamentals weigh after volatile week

Oil steadied on Friday in a volatile session, as bearish fundamentals pressured prices despite bullish indications earlier in the week.   International benchmark Brent crude futures were two cents higher at $34.4

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Siemens, EFC deal to deliver solutions to oil industry

Siemens UK & Ireland has formed a strategic partnership with oil and gas control system specialist, EFC Group, in a collaboration which promises to deliver innovative, cost-saving solutions for the industry.  

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Wars, cheap oil hurting Middle East growth

The World Bank said that 2015 economic growth in the Middle East and North Africa likely came to just 2.6 per cent, falling short of a 2.8 per cent forecast in October as war, terrorism and cheap oil took their toll.  

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Oil slump impact in focus at IISS debate

Diversifying regional economies in the wake of slumping oil prices dominated a debate held at the International Institute for Strategic Studies (IISS) yesterday (February 3). National Oil and Gas Authority (Noga) chief executive Shaikh Mohamme

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UAE manufacturing 'will help withstand low oil prices'

The manufacturing sector is playing a key role in helping UAE's economy withstand the impact of low oil prices, as indicated by the strong growth achieved by the recently concluded SteelFab 2016 trade fair.  

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Oil falls 4pc on China data

Oil fell 4 percent on Monday as weak economic data from China, the world's largest energy consumer, weighed on prices and an Opec source played down talk of an emergency meeting to stem the decline. China's manufacturing s

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Oil falls on China data, fading prospect of Opec action

Oil fell on Monday as weak economic data from China, the world's largest energy consumer, weighed on prices and an Opec source played down talk of an emergency meeting to stem the decline.   China's manuf

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