Sunday 26 June 2016
 
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oil market

Saudi may return to oil market balancing role

Saudi Arabia, the world's largest oil exporter, may return to its role of balancing oil supply and demand after the recovery of the global market, the country's energy minister indicated in comments published on Wednesday.

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Opec strategy 'to let oil market balance itself working'

Opec's strategy of letting the oil market balance itself is working as investment in the industry is falling and any recovery will take time to bring new supplies, a senior Iraqi oil official said on Friday. The Organisation o

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Oil market heading towards rebalancing, says Qatar minister

Global oil markets are heading toward rebalancing, Qatar's Energy Minister told reporters in Moscow on Friday, a day after the Organization of the Petroleum Exporting Countries failed to agree a clear oil output strategy at a meeting in Vien

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UAE, Nigeria ministers ‘happy with oil market’

UAE Oil Minister Suhail bin Mohammed al-Mazroui said on Tuesday he was happy with the oil market, noting that prices had been correcting higher. "We are optimistic. We are seeing that the market is correcting upward," Ma

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Oil market unlikely to rebalance fully by year-end: Total CEO

Oil demand in 2016 will stay strong, supporting prices, but the market is unlikely to rebalance by the year end, the chief executive of French oil and gas major Total said on Wednesday. Patrick Pouyanne told a French Senate commit

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IEA sees floor for oil market as stocks gain

Oil prices rose on Friday, boosting world stock markets, after an energy organization said the oil market may have found a floor, while the euro eased. Brent crude oil was on track for its third weekly gain after the report by the

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Saudi, Nigeria say cooperation crucial for oil market stability

Consultations and co-operation between OPEC and non-OPEC crude producers are the best ways to keep oil markets stable, Saudi Arabian and Nigerian government oil officials said, state news agency SPA reported on Tuesday. Saudi Depu

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Russia open to oil talks; oil rises

Oil rose on Wednesday, paring earlier losses after fresh comments from Russia about its openness to talk with Opec over output cuts helped revive hope among investors that the world's largest producers could act to boost prices.

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Russia open to oil talks; oil rises

Oil rose on Wednesday, paring earlier losses after fresh comments from Russia about its openness to talk with Opec over output cuts helped revive hope among investors that the world's largest producers could act to boost prices.

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How Saudi tactfully defended its US oil market share

Saudi Arabia has successfully defended its share of the US oil market even as rising domestic production from shale and growing pipeline imports from Canada have cut seaborne imports from other countries, said an expert. Saudi cru

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