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Brent crude falls toward $102Brent futures dropped toward $102 on Wednesday after an unexpected jump in oil inventories in the world's largest consumer, the United States, while producer cartel Opec and the US government both trimmed global demand forecasts. More… |
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Opec sees stronger oil demand growth in H2World oil demand will grow more quickly in the rest of 2013 than during the first half due to economic recovery and higher seasonal consumption, Opec said on Tuesday. The Organisation of the Petroleum Exporting Countries (Opec) in More… |
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Kuwait plans to drill for heavy oilMajor crude producer Kuwait plans to start drilling for heavy oil aiming to produce up to 60,000 barrels per day (bpd) of it by 2017, a local newspaper reported on Wednesday. Opec member Kuwait already has a crude oil production c More… |
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Saudi 'must decide response to shale'If Opec is eventually forced to trim its oil exports in response to the shale boom, Saudi Arabia will have to shoulder most of the production cuts, said an expert. Past experience suggests Saudi Arabia would have to absorb about t More… |
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Opec to keep output target unchangedOrganization of the Petroleum Exporting Countries (Opec) oil ministers agreed at their meeting to keep the group's oil output target unchanged for the rest of this year, a delegate at the meeting said. The group will meet agai More… |
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'Gulf source' in Opec bowing outSaudi Arabia has had four oil ministers but, to date, only one, very unofficial, oil ministry spokesman. Now Ibrahim Al-Muhanna, top adviser and media handler for two Sa More… |
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Opec shifts its oil trade map after shaleOpec oil exporters on Thursday, set to leave output policy unchanged, were weighing the impact of rising supplies of US shale oil that are redrawing the landscape of global oil trade. The Organization of the Petroleum Exporting Co More… |
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Opec coasts towards smooth dealOpec, enjoying oil at just over $100 a barrel, looks set to keep its output policy on a steady course for 2013. Saudi Arabia, its top oil producer, has already set the stag More… |
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Saudi 'happy' with current oil market situationSaudi Arabia considers the current oil market situation to be "great", its oil minister, Ali al-Naimi, said as he arrived in Vienna for a meeting of the Organization of the Petroleum Exporting Countries (Opec). "Let More… |
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Kuwait names Al-Shamali acting oil ministerMajor oil producer Kuwait has appointed Mustapha Al-Shamali as acting oil minister, state news agency Kuna said, after Hani Hussein stepped down under pressure from lawmakers. More… |
