Tuesday 23 December 2014
 
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Oil

Oil prices likely to rebound in second half of 2015

Crude oil prices are likely to bottom out in the first half of 2015, until a possible slowdown in US shale production counters a supply glut exacerbated by Opec's decision not to cut output, a Reuters monthly

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China's Iran crude oil imports down 2.6pc

China's crude oil imports from Iran fell 2.6 per cent in November from a year ago but were up more than half from October, customs data showed.   November imports hit 2.1

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Libya aims to set up new payment system for oil buyers

Libya's internationally recognised government aims to set up a new payment system to receive oil revenues, bypassing the central bank based in Tripoli, the capital city that is no longer under its control, it

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Gulf may stay firm on hopes for oil, Saudi budget

Gulf stock markets may stay firm on Monday after two days of strong gains, buoyed by hopes that oil prices have found at least a short-term floor and that Saudi Arabia will announce a 2015 budget that includes heavy government spending.

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Saudi says 'won't cut output even if non-Opec nations do'

Saudi Arabia said on Sunday it would not cut output to prop up oil markets even if non-Opec nations did so, in one of the toughest signals yet that the world's top petroleum exporter plans to ride out the market's biggest slump in years.

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UAE urges all world's oil producers not to raise output in 2015

The UAE oil minister urged all of the world's producers not to raise their oil output next year, saying this would quickly stabilise prices.   "We invite everyone to

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Iraq oil minister says total production to reach 4 mbpd

Iraq Oil Minister Adel Abdel Mahdi said Iraq's total oil production would reach four million barrels per day (mbpd) after Baghdad reached an agreement on exports with Kurdish regional authorities.

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Naimi says prices will stimulate demand, confident market will recover

Saudi Arabia's oil minister 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 Ar

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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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