OPEC
OPEC Articles
Google has released a series of consumer electronics, Wells Fargo charged fees it should not have, Roku shares sell off, and other important headlines.
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U.S. commercial crude inventories fell by 6 million barrels last week, but the big story is another record week for U.S. crude exports.
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OPEC has concluded its meeting in Vienna satisfied that its production cuts are working to rebalance oil markets. The cartel and its partners did not extend the cuts beyond the end of the first...
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Crude oil production fell in August for the first time in four months according to the International Energy Agency's monthly Oil Market Report. The agency raised its year-over-year demand growth...
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Once again in July, the 14 members of OPEC exceeded their self-imposed quota on production. The cartel also saw a year-over-year price gain of 34% and is encouraged by falling inventories, higher...
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Saudi Arabia has agreed to limit its exports of crude oil and Nigeria has agreed to cap its production at current levels in an effort to raise crude oil prices. The agreements were announced this...
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The US Energy Information Administration is expected to report Wednesday a drop of 3 million barrels in the nation's crude oil inventory. Combined with weaker dollar, crude prices are up Tuesday, but...
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The International Energy Agency reported this morning that global crude supplies rose by a whopping 720,000 barrels per day in June and that total output for the month was 97.46 million barrels a...
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A French court dismissed a 1.3 billion tax bill levied on Alphabet, global PC shipments dropped in the second quarter and OPEC compliance with its production cuts has started to fail.
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In its June report on the global oil market, OPEC said its production rose by about 1.4% due mainly to unexpected increases in Libya and Nigeria. However, Saudi production also rose last month.
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Crude oil prices have dropped more than 3.5% Wednesday following a report that Russia will neither extend nor deepen the current production cuts of 1.6 million barrels a day.
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WTI crude for July delivery traded down more than 3.5% early Wednesday as traders remain skeptical that global supply-demand balance is in the cards even with the recently announced nine-month...
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The IEA reported this morning that global crude oil supply dipped slightly in April but demand remains on track to reach nearly 98 million barrels a day this year.
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OPEC and Russia may have made a deal to extend production cuts in hopes of reducing the world's oil stockpiles, which should raise the price. Oil traders appear to believe the plan will work.
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Saudi Arabian and Russian oil ministers will propose extending crude oil production cuts through the first quarter of 2018. Crude prices moved higher on the report.
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