Friday 27 March 2015
 
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oversupply

Oil above $54, comes off 6-week low

Brent crude rose above $54 a barrel on Tuesday, recovering some of the previous session's losses when it dropped to a six-week low, although concerns over a worsening global supply glut kept a lid on gains. US crude, or West T

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Oil prices plunge toward $53 on strong dollar

Oil prices fell on Monday, with US crude dropping nearly 3 per cent to a six-year low as the dollar hit fresh highs and spare oil storage capacity runs low around the world. Both US crude and Brent have dropped steeply this month

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Oil dips 9pc on week on dollar, glut warning

Global oil prices tumbled on Friday and fell 9 per cent on the week, hit by a renewed rally in the dollar and a warning by the International Energy Agency (IEA) that the oil glut is growing. Data that showed a sharp drop in the nu

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Opec shouldn't cut output to ‘subsidise’ shale: Badri

The Organisation of the Petroleum Exporting Countries Secretary-General said on Sunday that the group's exporters should not cut output to "subsidise" higher-cost shale, an energy source whose recent growth is blamed by Opec for we

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Oil steadies above $60 after sharp Monday fall

Brent crude oil prices steadied above $60 a barrel in early Asian trading on Tuesday, supported by traders entering the market after prices dropped sharply in the previous session on the back of record US stocks. Brent futures fel

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Oil rises above $59 on hopes of economic recovery

Brent edged above $59 a barrel on Tuesday after a 2-per cent slide the session before, buoyed by cautious optimism on the outlook for the global economy. But the international oil benchmark is still 6-per cent off a peak reached a

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China to hike oil product exports, add to glut

Beijing has raised the initial volume of oil products that Chinese refiners can export this year, potentially adding to a supply glut just as new processing capacity in the Middle East is expected to pressure fuel prices and depress margins.

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China to hike oil product exports, add to glut

Beijing has raised the initial volume of oil products that Chinese refiners can export this year, potentially adding to a supply glut just as new processing capacity in the Middle East is expected to pressure fuel prices and depress margins.

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Oil turns lower as glut continues to weigh

Oil prices turned lower on Monday after a firm start, with an oversupply continuing to weigh on the market despite data showing Japan had pulled out of recession. Prices initially rose in early Asian trade but then dipped as the r

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Oil tops $60 for first time in 2015; glut persists

Oil hit its highest level for the year on Friday with Brent crude rising above $60 a barrel, as eurozone economic growth exceeded expectations and market bulls priced in another drop in the US oil rig count. Bets that falling expl

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