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International Organizations OPEC

  • A pump jack operates at a well site leased by Devon Energy Production Co. near Guthrie, Oklahoma.

    Oil prices fell on Friday after U.S. crude inventories rose for a seventh week, showing the market is still struggling to ease oversupply.

  • *OPEC compliance 88 percent based on industry average. NEW YORK, Feb 24- Oil prices fell on Friday despite OPEC pledges to boost compliance with output curbs, on concerns over rising U.S. supplies and as traders begin to pull out crude barrels from pricey storage as physical markets show signs of tightening. "The oil market remains focused on the global rebalancing...

  • *OPEC/ non- OPEC deal compliance at 86 pct in Jan- sources. *OPEC compliance to rise as UAE, Iraq pledge to catch up. Compliance is set to rise even further in coming months as OPEC laggards United Arab Emirates and Iraq have pledged to catch up with their individual targets.

  • *UAE taking steps to ensure full compliance- OPEC governor. LONDON, Feb 24- OPEC has so far surprised the market by showing record compliance with oil-output curbs and could do so further in coming months as the biggest laggards- the United Arab Emirates and Iraq- pledge to catch up quickly with their targets. Iraq and the UAE have delivered smaller portions of their...

  • HASSI MESSAOUD, Algeria, Feb 24- Algeria's biggest oilfield Hassi Messaoud is currently capping production at 430,000 barrels per day to keep it in line with OPEC's agreement to cut output, a Sonatrach official said late on Thursday. Algeria, a major gas supplier to Europe, last year began investing in improving yields at mature fields like Hassi Messaoud and...

  • *OPEC/ non- OPEC deal compliance at 86 pct in Jan- sources. *LBBW cuts year-end Brent price forecast by $5 to $55/ bbl. Their joint compliance with a production-reduction deal reached at the end of last year was around 86 percent in January, according to OPEC sources quoting results from a technical committee meeting held this week.

  • *OPEC/ non- OPEC deal compliance at 86 pct in Jan- sources. *U.S., Asia traders start selling most costly stored crude. Their joint compliance with a production-reduction deal reached at the end of last year was around 86 percent in January, according to OPEC sources quoting results from a technical committee meeting held this week.

  • West Texas Intermediate was down 16 cents at $54.29 by 0728 GMT. While OPEC appears to be sticking to its deal, producers that were not part of the deal, particularly U.S. shale drillers, have increased output, driving the growth in inventories in the United States, the world's biggest oil consumer. "Current oil prices are neither sustainable for OPEC or the industry,"...

  • NEW YORK/ HOUSTON, Feb 24- Traders are turning the spigots to drain the priciest storage tanks holding U.S. crude stockpiles as strengthening markets make it unprofitable to store for future sale and cuts in global production open export opportunities. From Houston through Louisiana to floating storage in the Gulf of Mexico, traders are starting to ship crude...

  • TOKYO, Feb 24- Oil prices held gains on Friday on data showing U.S. stockpiles rose for a seventh straight week but at a pace that was well below expectations, and news of oil being sold out of storage in Southeast Asia. While OPEC appears to be sticking to its deal, producers that were not part of the deal, particularly U.S. shale drillers, have increased output, driving...

  • West Texas Intermediate fell 12 cents, or 0.2 percent, to $54.33 a barrel by 0323 GMT, having closed up 1.6 percent in the previous session. While OPEC appears to be sticking to its deal, producers that were not part of the deal, particularly U.S. shale drillers, have increased output, driving the growth in inventories in the United States, the world's biggest oil...

  • SINGAPORE, Feb 24- Traders are selling oil held in tankers anchored off Malaysia, Singapore and Indonesia in a sign that the production cut led by OPEC is starting to have the desired effect of drawing down bloated inventories. Yet in the short-term, the crude released from tankers will weigh on markets and possibly undermine OPEC's goal of achieving a balanced...

  • West Texas Intermediate fell 13 cents, or 0.2 percent, to $54.32 a barrel by 0048 GMT, having closed up 86 cents in the previous session. On Thursday, sources told Reuters that the joint OPEC/ non- OPEC technical committee reported an 86 percent compliance on the oil cuts in January. Earlier, sources reported over 90 percent compliance within OPEC.

  • *OPEC/ non- OPEC show 86 pct compliance with cuts in Jan- sources. NEW YORK, Feb 23- Oil prices rose on Thursday but gains were pared after U.S. government data showed a seventh straight build in crude stocks, suggesting high inventories could undermine OPEC's move to cut output. OPEC and producers including Russia aim to cut production by around 1.8 million barrels...

  • Oil jack pumps are pictured in the Kern River oil field in Bakersfield, Calif.

    Oil price gains eased on Thursday after U.S. government data suggested high inventories could undermine OPEC's move to cut output.

  • NEW YORK, Feb 23- Oil prices rose but gains were pared Thursday after U.S. government data showed a seventh straight build in crude stocks, suggesting high inventories could undermine OPEC's move to cut output. OPEC and producers including Russia aim to cut production by around 1.8 million barrels per day to drain an oversupply that has kept prices depressed for...

  • LONDON, Feb 23- Oil prices rose more than $1 a barrel on Thursday after U.S. data showed a surprise decline in inventories, suggesting that a global glut may be ending after moves by OPEC to cut production. OPEC and producers including Russia aim to cut production by around 1.8 million barrels per day to drain an oversupply that has kept prices depressed for more...

  • ISTANBUL, Feb 23- Iran said on Thursday an increase in oil prices to more than $55 per barrel was not in the interest of OPEC as it would lead to a rise in output by non- OPEC producers, the semi-official Fars news agency reported. "If oil prices specifically surge over $55 or $60 per barrel, non- OPEC producers will increase their crude production to benefit the most from...

  • The Aramco oil refinery in Dahran, Saudi Arabia.

    Aramco IPO might set a precedent for listing oil assets managed by state enterprises.

  • LONDON, Feb 23- Oil prices rose more than $1 a barrel on Thursday after U.S. data showed a surprise decline in inventories, suggesting that a global glut may be ending after moves by OPEC to cut production. OPEC and producers including Russia aim to cut production by around 1.8 million barrels per day to drain an oversupply that has kept prices depressed for more...