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  • VIENNA, June 3- Iraq has positively surprised oil majors by starting quickly to repay accumulated debts, the head of Russia's Lukoil said, pledging more investment to allow OPEC's second-largest producer to maintain stellar output growth. Iraq has become the world's fastest-growing oil producer with output up 50 percent since it signed contracts worth tens...

  • LAUNCESTON, Australia, June 3- There are two ways of looking at the OPEC meeting in Vienna, and neither is wrong. The April gathering in Doha, which included non- OPEC major Russia, was widely viewed as a debacle because the market had expected a production freeze to be agreed and instead they got an acrimonious breakdown between Gulf rivals Saudi Arabia and Iran.

  • *No output cap by OPEC; Saudis pledge no oversupplies either. NEW YORK, June 2- Oil prices rose on Thursday, with Brent returning to above $50 a barrel, after data showing a weekly drawdown in U.S. crude stockpiles offset OPEC's decision not to set a ceiling for its production. "It was more a definitive day for the EIA than OPEC," said Carl Larry, director of business...

  • LONDON, June 2- Oil prices headed for their third week of gains on Thursday, holding steady ahead of an OPEC meeting that analysts said was not expected to result in restrictions on crude output. The Organization of the Petroleum Exporting Countries is set for another showdown between rivals Saudi Arabia and Iran when it meets on Thursday in Vienna, with Riyadh...

  • LONDON, June 2- Oil prices held broadly steady on Thursday, set for their third week of gains, ahead of an OPEC meeting that analysts said was not expected to result in restrictions on crude output. The Organization of the Petroleum Exporting Countries is set for another showdown between rivals Saudi Arabia and Iran when it meets on Thursday in Vienna, with Riyadh...

  • VIENNA, June 2- Iranian Oil Minister Bijan Zanganeh said on Thursday OPEC cannot control anything if it doesn't set individual country production quotas and insisted Tehran deserved a high quota based on historic output. Zanganeh said a fair quota for Iran should be 14.5 percent of OPEC's overall oil output. The group is producing 32.5 million barrels per day,...

  • SINGAPORE, June 2- Oil prices were steady on Thursday on mixed market signals ahead of an OPEC meeting in Vienna, which analysts said was not expected to result in restrictions on crude output. The Organization of the Petroleum Exporting Countries is set for another showdown between rivals Saudi Arabia and Iran when it meets on Thursday in the Austrian capital,...

  • SINGAPORE, June 2- Oil prices fell early on Thursday as a row between Saudi Arabia and Iran made it unlikely that the OPEC would agree any output constraints during a meeting in Vienna, just as demand worries from China resurfaced. The Organization of the Petroleum Exporting Countries is set for another showdown between rivals Saudi Arabia and Iran when it meets...

  • VIENNA, June 1- OPEC is set for another showdown between rivals Saudi Arabia and Iran when it meets on Thursday, with Riyadh trying to revive coordinated action and set a formal oil output target but Tehran rejecting the idea. Several OPEC sources said Saudi Arabia and its Gulf allies would propose to set a new collective ceiling in an attempt to repair OPEC's...

  • Opposition supporters clash with Venezuelan National Guards during a rally to demand a referendum to remove President Nicolas Maduro in Caracas, Venezuela, May 11, 2016.

    Oil producers from Angola to Venezuela are buckling under a production policy that was pushed by Saudi Arabia.

  • VIENNA, June 1- Gulf OPEC members including Saudi Arabia are looking to revive the idea of coordinated oil-output action by major producers when the group meets on Thursday, a senior OPEC source said, but Iran signalled the country was not ready for any such pact. "The Gulf Cooperation Council is looking for coordinated action at the meeting," the source said,...

  • *Focus on output ahead of OPEC meeting on Thursday. LONDON, June 1- Oil prices fell on Wednesday on expectations of OPEC inaction on output as its focus stays firmly on market share, while concerns about China's economy weighed on the demand outlook. "The OPEC meeting in Vienna on Thursday is unlikely to see a change in the policy of maintaining market share," said...

  • VIENNA, June 1- Gulf OPEC members including Saudi Arabia are looking to revive the idea of coordinated oil-output action by major producers when the group meets on Thursday, a senior OPEC source said, but Iran signalled the country was not ready for any such pact. "The Gulf Cooperation Council is looking for coordinated action at the meeting," the source said,...

  • *Iran expects funds to be cleared soon. ISTANBUL, June 1- Indian oil refiners will clear around 6 billion euros of outstanding debt to Iran through Turkey's Halkbank soon, a senior Iranian economy official said on Wednesday. India is one of the biggest buyers of Iranian crude and built up a payments backlog when Iran was under Western sanctions, with its refiners...

  • VIENNA, June 1- Iran said on Wednesday it would not commit to any oil-production action with fellow OPEC members when the group meets this week despite being close to pre-sanctions output and export levels. "Iran supports OPEC's efforts to bring stability to the market with fair and logical prices, but it will not commit to any output freeze," Iran's...

  • *Focus on output levels ahead of OPEC meeting on Thursday. LONDON, June 1- Oil prices fell on Wednesday on expectations of high and rising exports from the Middle East, while concerns about China's economy weighed on the demand outlook. Iran's representative to the OPEC said Tehran would not commit to any oil output freeze and that any discussion of rationing...

  • *Falih first in Vienna, visits OPEC headquarters. *Many fellow OPEC ministers to arrive much later. For veteran OPEC watcher Gary Ross, founder of New York- based consultancy PIRA, that signals expectations should be low as far as OPEC policy is concerned.

  • *Falih first in Vienna, visits OPEC headquarters. *Many fellow OPEC ministers to arrive much later. For veteran OPEC watcher Gary Ross, founder of New York- based consultancy PIRA, that signals expectations should be low as far as OPEC policy is concerned.

  • LONDON, May 31- Brent crude prices fell on Tuesday on rising output from the Middle East and ahead of an OPEC meeting later this week, while U.S. crude edged higher as the summer driving season began. Iraq will supply 5 million barrels of extra crude to its international oil company partners in June, industry sources familiar with the issue said, joining other Middle...

  • *Imports by India rise as China, Japan see decline. TOKYO, May 31- Asian imports of Iranian oil in April rose by more than 13 percent from a year ago as Tehran vies to recoup market share lost under international sanctions, with shipments into India and South Korea offsetting a big slump in purchases by Japan. Japan on Tuesday announced its official oil import figures...