Friday 25 April 2014
 
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oil market

Market fearing oil shortages, says Saudi minister

Worries about supplies have caused the oil market's pricing dynamics to shift in recent days, Saudi Arabia's oil minister said on Saturday. "Did you see what happened over the past three days? The market shifted from

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Middle East turmoil helps Opec revenues

Turmoil in the Mena region has been awful for the people of the region. The same cannot be said for Opec, the oil group. The long list of crises - violence in Iraq, fear of sectarian spillover from the Syrian conflict, oil worker strikes in Liby

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Oil market ‘can cope with more Iran export cuts’

The top U.S. energy official said world oil markets could cope with further cuts in Iran's oil exports from tighter sanctions over its nuclear programme as rising supply from the United States and Iraq offsets the loss. U.S. l

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Oil market stability restored claims Saudi

  Saudi Arabia is satisfied that oil prices have fallen to a level that does not hamper global growth, Saudi Oil Minister Ali Al-Naimi said on Wednesday, signalling success in a Gulf Arab effort to keep oil prices under control d

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IEA head says oil market sufficiently supplied

The global oil market is sufficiently supplied and there is no reason to release extra reserves now, the head of the International Energy Agency (IEA) said on Thursday. "There is no reason for action at this moment," Mar

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Oil market 'well supplied, coping with Iran exit'

The global oil market is well supplied and can cope with the loss of Iranian crude to Western sanctions, oil officials and executives, including the heads of Total and Royal Dutch Shell, said this week. An increase in global crude supplies

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Oil market 'breaks cycle of tight supplies'

The oil market has broken a two-year cycle of tightening supply conditions, the International Energy Agency said on Thursday, as demand growth weakens and top exporter Saudi Arabia increases output. The agency, which advises industrialised

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Options market slumps despite Iran risk

If the oil options market is to be believed, the risk of an abrupt, dramatic move in crude prices has rarely been lower, says a report. Even as traders warn that a shock attack on Iran, a release of emergency oil reserves or a slowdown in

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Balanced oil market 'important for Saudi'

Having a balanced oil market is important for Saudi Arabia, the world's largest producer and exporter, the kingdom's Foreign Minister Prince Saud al-Faisal said on Saturday, amid mounting uncertainty over Iranian oil supplies due to sancti

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Saudi says oil market supply 'adequate'

Saudi Finance Minister Ibrahim Alassaf said on Thursday that supply to global oil markets was 'adequate' and said he was comfortable with oil prices at their current level.  'Our long-standing policy is to have stability a

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