Sunday 7 February 2016
 
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oil market

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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Opec emergency meeting ‘may hurt market’

Iran's oil minister said on Friday any emergency meeting of the Organization of Petroleum Exporting Countries (Opec) would hurt the crude oil market if it made no decision to shore up falling prices. Venezuela has been calling

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Opec sees market rebalancing in 2016 on price collapse

Opec forecast on Monday that oil supply from non-member countries will post a larger-than-expected decline this year due to the collapse in prices, boosting the need for crude from the producer group. Supply outside the Organizati

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Al-Naimi optimistic oil market will stabilise

Saudi Oil Minister Ali Al-Naimi said on Sunday that it would take "some time" to restore stability to the global oil market but he remained optimistic about the future. Al-Naimi's comments came even as Iran said it w

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Russia sees balanced oil market by 2016 end

The global oil market could return to a balance between supply and demand by the end of next year, as long as producers do not raise output from current levels, Russian Energy Minister Alexander Novak said on Tuesday. Global oil p

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UAE ‘will play key role in stability of oil markets’

The United Arab Emirates will play a key role in the stability of oil markets in the future and is committed to continue spending on its energy projects regardless of the oil price, the oil minister said on Thursday. "You hav

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Oil market will balance itself: Kuwait

Kuwait's Opec governor Nawal al-Fuzaia said on Thursday the oil market would balance itself but "we need to be patient", indicating support for the producer group's policy of defending market share despite falling prices.

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Opec sees more balanced oil market in 2016

The global oil market should be more balanced next year as China and the developing world increase oil consumption while supply of shale oil from North America and other regions grows more slowly, Opec said on Monday. In its month

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