Monday 25 June 2018
 
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Opec

Opec, non-Opec pledge supply boost

Opec and non-Opec members said they would raise supply by returning to 100 per cent compliance with previously agreed output cuts, after months of underproduction, a media report said. This came in a statement issued at the end of

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Opec to boost oil output after Saudis clinch deal with Iran

Organization of Petroleum Exporting Countries (Opec) and allies including Russia will boost oil production starting next month, offering relief to consumers after Saudi Arabia secured a last-minute deal to overcome Iran’s opposition, sai

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Mena ‘needs $320bn spend in oil and gas sector’

The Mena region needs at least $320 billion in investment in the oil and gas sector over the next five years, said an industry expert, adding that the private sector can be an important partner in this effort. New investment model

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Opec set to achieve stable oil market, says UAE minister

The Organisation of Petroleum Exporting Countries (Opec) remains optimistic in fulfilling its goal of delivering sustainable oil market stability, thanks to its co-operation with its key partners, said the UAE Minister of Energy and Industry,

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Opec members to decide on raising oil production

Members of the Organisation of the Petroleum Exporting Countries (Opec) will meet in Vienna this week to decide on whether to end its production freeze, a market expert has revealed. The group may be considering lifting the cap al

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Oil down as Opec's bearish spin raises supply worries

The crude oil prices closed lower on Friday with futures falling 0.3 per cent in New York as traders weighed conflicting supply signals from Saudi Arabia, Russia and Venezuela, said a report.   Oil ministers from

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Oil under pressure as Saudi, Russia may up output

Brent crude oil prices have come down in recent days from the highs of $80 per barrel (/bbl) posted on May 17 on news that Russia and Saudi Arabia may be looking to up production, said the Bank of America Merrill Lynch (BofAML) in a new report.

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Opec, allies likely to ease output as oil hits $80

Organisation of Petroleum Exporting Countries (Opec) and its allies are likely to gradually revive oil output in the second half of the year to ease consumer anxiety as prices trade near $80 a barrel, said Saudi Energy Minister Khalid Al Falih

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Saudi Arabia equity market set for strong rally

The Saudi equity market is gaining momentum as it heads for possible inclusion in MSCI’s influential emerging market index in 2018, following the FTSE upgrade as an emerging market last month, said an industry expert. &ldquo

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Trump’s Iran deal pullout could hit more than just oil

US President Donald Trump’s decision to pull out of the Iranian nuclear deal could have much larger widespread implications than only an increase in the oil price, said a leading London-based market analyst. His decision wou

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