Saturday 30 April 2016
 
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Glut

Brent set to rise as oil glut begins to clear: report

The oil market is now poised to rebalance in the next six quarters and Brent crude price is likely to rally to $47 per barrel by mid-year, according to a new report by Bank of America Merrill Lynch. The report titled ‘Global

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Oil prices rise on optimism over end of punishing glut

Oil prices rose on Friday, lifted by fresh hopes over a proposed freeze in oil production and firm economic indicators from the US and Germany that cast a positive light on growth in fuel demand.   Russia's o

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Oil prices set to end week higher on output freeze

Oil prices slid but are set for their first weekly increase this month as talk of a co-ordinated plan by producers to freeze output levels was tempered by a record build in US crude inventories.   Brent futures w

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Opec members 'increasingly keen to end oil glut'

The mood inside the Organization of the Petroleum Exporting Countries (Opec) is shifting from mistrust to a growing consensus that a decision must be reached on how to end the global oil price rout, Nigeria's oil minister told Reuters.

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Oil rises above $30 on hopes of deal to tackle glut

Oil rose further above $30 a barrel on Tuesday, lifted by hopes that Opec and non-Opec producers may be edging closer to a deal to tackle one of the biggest supply gluts in decades. The Organisation of the Petroleum Exporting Coun

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Moody's cuts oil price estimates as supply glut continues

Moody's Investors Service has reduced its price estimates for Brent crude and West Texas Intermediate crude amid continued oversupply in the oil markets and the risk of additional supply from Iran.   It has l

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Oil prices fall further on glut worries

Crude futures slumped again in early Asian trade on Wednesday, with US oil falling to its lowest since September 2003 below $28 a barrel on worries over a global supply glut. That came as the International Energy Agency, which adv

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Oil prices fall further on glut worries

Crude futures slumped again in early Asian trade on Wednesday, with US oil falling to its lowest since September 2003 below $28 a barrel on worries over a global supply glut. That came as the International Energy Agency, which adv

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Iran oil exports may rise by 500,000 bpd within year after sanctions

Iran's crude oil exports could rise by half a million barrels per day within 6-12 months once sanctions against it are lifted, the International Energy Agency (IEA) said on Monday, adding to a glut that has pulled Brent prices to levels la

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Oil tumbles towards 11-year low on glut fears

Oil prices tumbled 4 per cent on Monday, coming close to their 11-year low, on growing fears that the global oil glut would worsen in the months to come in a pricing war between leading Opec and non-Opec producers. Brent crude fel

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