Thursday 25 December 2014
 
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prices

Oil drops below $61 on supply glut, strong dollar

Brent oil fell by more than $1 towards $60 per barrel, weighed down by strong supply in the US and a rising dollar.   Brent for February delivery dropped $1.04 to $60.65 afte

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Lower oil "double-edged sword" for energy-hungry Egypt

The fall in global oil prices will cut Egypt's fuel subsidy bill but could hit the finances of oil-exporting Gulf allies who have showered it with billions of dollars in aid.  

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Oil market experiencing temporary correction, says Qatar

The oil market is experiencing a "temporary correction" and fundamentals should dictate a fair price for oil, Qatar's oil minister Mohammed al-Sada said in a speech on Sunday. "We believe in the role of market f

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Oil to rebound next year after post-Opec sell-off

Oil prices are expected to rebound in 2015 and 2016 as the market stabilises in the wake of a near-40 per cent collapse this year, Reuters monthly poll showed.   Although forecasts have collapsed in t

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Saudi cuts key oil prices for Asia and US buyers

Saudi Arabia steeply cut its January oil prices for Asian and US buyers yesterday, a move some analysts said showed it was stepping up a battle for market share a week after refusing to support Opec output cuts. Official Selling P

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Bahrain economy posts 5.1pc growth

Bahrain's economy grew by 5.1 per cent in constant prices and 4.7 per cent in current prices in the third quarter of this year, compared with last year. “The growth momentum covered all oil and non-oil economic sectors,&

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Gold falls for a third day after oil drop

Gold fell on Friday on the back of a slump in oil prices, with strength in the dollar piling further pressure on the metal ahead of a referendum on the management of Swiss bullion reserves this weekend. Oil prices posted their sha

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Lower oil prices won't affect development: Kuwait

Kuwait's oil minister said there was no negative effect on the country's development plan from lower oil prices, state news agency Kuna reported.   Kuna cited Ali Al Omair as saying that

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Apache expects higher gas prices in Egypt by year-end

US oil and gas producer Apache Corp, one of the largest foreign investors in Egypt, hopes to reach an agreement with Cairo on higher gas prices by the end of the year and is encouraged by what it considers greater government transparency.

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Qatar joins Mideast oil producers in deep price cuts

Qatar has become the latest Middle East oil producer to cut prices by more than $1 a barrel in an attempt to revive demand for its crude in Asia.   Qatar, one of the smallest producers in Opec, has cut the Septem

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