Friday 27 May 2016
 
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Oil

Oil prices ease from seven-month high to below $49

Oil futures fell below $49 on Friday, easing from a seven-month high hit this week, with analysts predicting range-bound markets for the next few months as supply outages slowly help to clear a global glut of crude. Prices also ca

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Saudi Aramco discovers new oil and gas fields

Saudi Arabia's state oil giant Aramco discovered new oil and gas fields last year and the kingdom is committed to continue investing in its energy sector to meet future demand, its new energy minister said. Khalid al-Falih, wh

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Aramco boosts market share as it prepares for listing: CEO

Saudi oil giant Aramco is gaining market share and pushing for greater efficiency, chief executive Amin Nasser said in an interview, as it acts as a "bridge" to a future when the nation relies less on energy exports. Nas

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Brent breaks above $50 for first time in 7 months

Brent oil futures climbed above $50 a barrel on Thursday for the first time in nearly seven months as a global supply glut that plagued the market for nearly two years showed signs of easing. Oil prices have rallied in recent week

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Opec panel sees improving oil market

Opec officials were more positive about oil market conditions at talks in Vienna ahead of next week's gathering of oil ministers, two sources said on Thursday, in a sign the exporter group is unlikely to change output policy on June 2.

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Oil nudges $50 as investors bet on shrinking overhang

Oil rose towards $50 a barrel on Wednesday for the first time in seven months, driven by expectations that shrinking supply will help erode any overhang of unwanted crude, particularly after industry data showed a sharp fall in US inventories.

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Iraq aims to pump 6 million bpd in 2020

Iraq is sticking to an aspiration to increase its oil output by up to a third by 2020 despite warnings from some companies working in Opec's second-largest producer that projects could be delayed due to spending cuts. Iraq is

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Oil rises on US crude drawdown hopes

Oil prices rose on Tuesday as investors anticipated a weekly drawdown in US crude inventories that they hoped would boost prices closer to $50 a barrel, while a rally on Wall Street also lent support. "We're gearing up on

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$65 oil price 'badly needed' for investment says Qatar

Oil markets are rebalancing but crude is not at a fair price yet, Qatar's energy minister and current Opec president told the Associated Press in an interview published on Tuesday, saying a minimum price of $65 a barrel was "badly neede

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Oil falls for fifth day as output rises

Oil fell for a fifth consecutive day on Tuesday on rising production from major exporters, and as the dollar strengthened. Brent futures had declined 45 cents to $47.90 a barrel by 0845 GMT, after closing down 37 cents in the prev

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