Saturday 27 December 2014
 
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oversupply

Oil sinks below $60 amid strong dollar, US oversupply

Oil prices fell below $60 on Friday, tumbling as the dollar strengthened and as a supply glut in top consumer, the US, trumped worries about falling production from Libya. The market had come under pressure from Wednesday's En

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Oil resumes fall, losing more than $1 on glut worries

Brent crude fell more than $1 on Wednesday, resuming its fall caused by a glut of oil in the market after a short-lived reprieve the previous day when a weaker dollar had provided some support. Worries about oversupply have pushed

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Oil hits 5-year low below $66 on oversupply worries

Benchmark Brent crude slipped to its lowest in five years on Tuesday, dropping below $66 a barrel after plunging more than 4 per cent the day before on worries over a deepening supply glut. The chief executive of Kuwait's nati

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Oil falls more than $1 as rout extends

Oil prices fell by more than a dollar on Monday to near their lowest levels since 2009 after Morgan Stanley cut its price forecast for Brent, saying oversupply will likely peak next year with Opec deciding not to cut output. "

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Opec reviews oil outlook in start to talks on glut

A panel of national representatives reviewed Opec's oil market outlook for 2015 this week, Opec sources said, preparing the ground for a policy-setting meeting next week that will decide how to address a looming oversupply of crude.

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Opec has not contributed to oversupply: UAE

UAE energy minister Suhail bin Mohammed Al Mazroui said that oil market fundamentals had not changed, and the Organisation of the Petroleum Exporting Countries (Opec) had not contributed to oversupply.   Speaking

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Qatar, UAE ‘unaffected by sliding oil prices’

Qatar said on Tuesday that its economy would not be affected by the slide in oil prices, while a senior UAE government official declared that oil market fundamentals have not changed and Opec has not contributed to oversupply. Qat

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Oil falls to $85 on strong dollar, oversupply

Brent crude oil fell by more than a dollar to around $85 a barrel on Friday as a firmer dollar and a well supplied oil market pushed the benchmark towards its steepest monthly decline since 2012. The dollar rose to its highest lev

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Oversupply weighs on Bahrain’s office market

Bahrain’s office market has been suffering from an oversupply of office stock and weak occupier demand since the 2008-09 global economic turndown, a report said. Not surprisingly, this has led developers to scale back office

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Oversupply, strong dollar to weigh on oil next year

Middle Eastern unrest is seen putting a floor under oil prices this year, while increasing supply and a stronger dollar driven by an expected easing of U.S. stimulus will push prices lower in 2014, a Reuters poll showed. The 30-an

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