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International Organizations OPEC

  • SINGAPORE, March 1- Crude oil lost more ground on Wednesday with rising U.S. oil output adding pressure on the market, although OPEC production cuts continued to offer support. Investors in the oil market are awaiting weekly inventories data from the U.S. Energy Information Administration due at 1530 GMT on Wednesday. West Texas Intermediate crude futures lost...

  • *Asia ex- Japan stocks down 0.2 pct; Nikkei up on weaker yen. *China, Japan Feb manufacturing activity beat expectations. *Oil mixed as fears of higher U.S. supply tussle with OPEC cuts.

  • SINGAPORE, March 1- U.S. crude lost more ground on Wednesday on rising U.S. oil output, although OPEC production cuts continued to offer support. West Texas Intermediate crude futures had fallen 8 cents, or 0.2 percent, to $53.93 a barrel by 0023 GMT, while Brent crude was yet to start trading. U.S. stockpiles rose 2.5 million barrels in the week to Feb. 24, according to a...

  • *Saudi wants Brent at $60, Russia cuts Feb output. NEW YORK, Feb 28- Oil prices slipped on Tuesday but kept trading in a tight range, as concerns about rising U.S. crude inventories ahead of data overshadowed OPEC production cuts. West Texas Intermediate crude futures settled down 4 cents, or 0.1 percent, at $54.01 a barrel and Brent crude fell 34 cents, or 0.6 percent, to...

  • *Saudi wants Brent at $60, Russia cuts Feb output. NEW YORK, Feb 28- Oil prices slipped on Tuesday but continued to trade in a tight range, as concerns about rising U.S. crude inventories ahead of data overshadowed OPEC production cuts. West Texas Intermediate crude futures settled down 4 cents, or 0.1 percent, at $54.01 a barrel and Brent crude fell 34 cents, or 0.6...

  • Oil pumpjacks in the Permian Basin oil field are getting to work as crude oil prices gain.

    Oil dipped on concerns about U.S. crude inventories, but pared losses after a Reuters survey showed OPEC cut oil output further in February.

  • LONDON, Feb 28- OPEC has cut its oil output for a second month in February, a Reuters survey found on Tuesday, allowing the exporter group to boost already strong compliance with agreed supply curbs on the back of a steep reduction by Saudi Arabia. Previous OPEC cuts have been mired in mass cheating by its members, making strong compliance by OPEC this time a positive...

  • Feb 28- The following table shows OPEC crude oil output in millions of barrels per day in February and January, according to a Reuters survey published on Tuesday. The survey indicates output from all 13 members of the Organization of the Petroleum Exporting Countries fell by 30,000 barrels per day in February from January's revised level.

  • *Saudi wants Brent at $60, Russia cuts Feb output. NEW YORK, Feb 28- Oil prices fell more than 1 pct on Tuesday but continued to trade in a tight range, as concerns about rising U.S. crude inventories ahead of data overshadowed OPEC production cuts. West Texas Intermediate crude futures were down 77 cents at $53.28 a barrel and Brent crude fell 64 cents to $55.29 a barrel.

  • *Saudi wants Brent at $60, Russia cuts Feb output. NEW YORK, Feb 28- Global oil prices fell 1 pct on Tuesday but continued to trade in a tight range, as concerns about rising U.S. crude inventories ahead of data overshadowed OPEC production cuts. The Organization of the Petroleum Exporting Countries has so far surprised the market by showing record compliance with...

  • *Canadian dollar at C $1.3209, or 75.71 U.S. cents. *Loonie touches its weakest since Jan. 24 at C $1.3228. Prices of oil, one of Canada's major exports, retreated as increasing crude production from the United States offset the Organization of the Petroleum Exporting Countries-led output cuts.

  • *Saudi wants Brent at $60, Russia cuts Feb output. LONDON, Feb 28- Global oil prices dipped on Tuesday but continued to trade in a tight range, with OPEC- led output cuts offset by increasing crude production from the United States. The Organization of the Petroleum Exporting Countries has so far surprised the market by showing record compliance with oil-output...

  • LONDON, Feb 28- Iraq has trimmed exports of Kirkuk crude oil to better meet its supply reduction obligations with OPEC and deliver fuel for local needs amid its campaign against Islamic State, a senior official from Iraq's semi-autonomous region of Kurdistan said. Kurdistan and Iraq agreed last year to jointly export crude from the giant Kirkuk oilfield after...

  • IRAQ REDUCES EXPORTS OF ITS SHARE OF KIRKUK OIL TO SERVE LOCAL MARKET AND COMPLY WITH OPEC CUTS- KURDISTAN RESOURCES MINISTER.

  • *Saudi wants Brent at $60, Russia cuts Feb output. LONDON, Feb 28- Global oil prices dipped on Tuesday but continued to trade in a tight range with the OPEC- led output cuts offset by increasing crude production from the United States. The Organization of the Petroleum Exporting Countries has so far surprised the market by showing record compliance with oil-output...

  • *Oil rises on expectations of further OPEC cuts. Under the deal, OPEC agreed to curb output by about 1.2 million barrels per day from Jan. 1, the first cut in eight years. In addition, 11 non- OPEC oil producers have promised to cut their output- Russia reduced production by 124,000 barrels per day this month compared with October levels, Interfax reported on Tuesday...

  • *Oil rises on expectations of further OPEC cuts. "With the prospect of OPEC extending the current cuts even longer, we would expect to see prices continue to push higher from here," ANZ said in a note. Under the deal, OPEC agreed to curb output by about 1.2 million barrels per day from Jan. 1, the first cut in eight years.

  • *Asian buyers take 1.64 mln bpd of Iran oil in Jan- data. Iran's top four Asian buyers- China, India, South Korea and Japan- imported 1.64 million barrels per day last month, up 67.6 percent on a year earlier, government and ship-tracking data showed. Iran was exempted from an OPEC deal to reduce output by 1.2 million bpd starting Jan. 1, a victory for Tehran which has argued...

  • DUBAI/ LONDON, Feb 28- Saudi Arabia wants crude oil prices to rise to around $60 a barrel this year, five sources from OPEC countries and the oil industry said. This is the level the OPEC heavyweight and its Gulf allies- the United Arab Emirates, Kuwait and Qatar- believe would encourage investment in new fields but not lead to a jump in U.S. shale output, the sources said.

  • *Oil rises on expectations of further OPEC cuts. "With the prospect of OPEC extending the current cuts even longer, we would expect to see prices continue to push higher from here," ANZ said in a note. Under the deal, OPEC agreed to curb output by about 1.2 million barrels per day from Jan. 1, the first cut in eight years.