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International Organizations OPEC

  • *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.

  • *Oil rises on expectations of further OPEC cuts. OPEC has so far surprised the market by showing record compliance with oil-output curbs and could improve further in coming months as the biggest laggards- the United Arab Emirates and Iraq- pledge to catch up quickly with their targets. "With the prospect of OPEC extending the current cuts even longer, we would...

  • 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. "With the prospect of OPEC extending the current cuts even longer, we would expect to see prices continue to push higher from here,"...

  • *UAE and Iraq pledge to catch up with output cut targets. *Iran, Libya and Nigeria remain exempt from OPEC production cuts. NEW YORK, Feb 27- Oil prices ended little changed on Monday as the prospect for U.S. crude production to continue growing offset reports of high compliance to the OPEC production cut agreement and record bullish bets that prices would rise...

  • A worker stands next to a pump jack at an oil field Sergeyevskoye owned by Bashneft company north from Ufa, Bashkortostan, Russia.

    Money managers upped their bullish U.S. crude futures and options positions to the highest on record.

  • MOSCOW, Feb 27- Russia is proposing the creation of an OPEC- like organization for the global aluminum industry, TASS news agency quoted Russian Industry and Trade Minister Denis Manturov as saying on Monday. OPEC, the Organization of the Petroleum Exporting Countries, unites some of the world's largest oil producers. Its members, together with non- OPEC oil...

  • MOSCOW, Feb 27- Russia is proposing the creation of an OPEC- like organisation for the global aluminium industry, TASS news agency quoted Russian Industry and Trade Minister Denis Manturov as saying on Monday. OPEC, the Organization of the Petroleum Exporting Countries, unites some of the world's largest oil producers. Its members, together with non- OPEC oil...

  • ABUJA, Feb 27- OPEC- led oil production cuts have been well supported by all participating countries despite some teething troubles for non- OPEC members, the cartel's secretary-general, Mohammed Barkindo, said on Monday. Barkindo also said OPEC remained optimistic that the "worst was over" for the oil market, almost two months into the group's supply cut deal with...

  • NEW YORK, Feb 26- Passive investment funds are poised to shift an estimated $2 billion from far-term to near-term crude futures over the next week, anticipating an energy market rally as a historic OPEC output cut slashes supply. The switch may foreshadow the end of a global oil glut that built up during a two-year price war. On Friday, the Brent May contract price...

  • LAUNCESTON, Australia, Feb 27- If you were looking for evidence of reduced crude oil supply from OPEC and its main ally in cutting output to boost prices, Russia, then stay away from Asia's top importers. January import data from China, India and Japan do little to show the impact of reduced crude supply, but do suggest that prices have risen in response to move by the...

  • SINGAPORE, Feb 27- Oil prices rose on Monday, with the market set to rise for five of seven sessions as a global supply glut appears to ease, but rising U.S. production limited gains. But the market has been supported within a tight $4 to $5 range since November, when the Organization of the Petroleum Exporting Countries and other producers agreed to cut production.

  • SINGAPORE, Feb 27- Oil prices rose on Monday, with the market set to rise for five out of seven sessions as a global supply glut appears to ease, but rising U.S. production limited gains. But the market has been supported within a tight $4 to $5 range since November, when the Organization of the Petroleum Exporting Countries and other producers agreed to cut...

  • LAUNCESTON, Australia, Feb 27- If you were looking for evidence of reduced crude oil supply from OPEC and its main ally in cutting output to boost prices, Russia, then stay away from Asia's top importers. January import data from China, India and Japan do little to show the impact of reduced crude supply, but do suggest that prices have risen in response to move by the...

  • SINGAPORE, Feb 27- Oil prices edged higher on Monday, with Brent oil set to rise for five out of seven sessions as a global supply glut appears to ease, but rising U.S. production limited gains. But the market has been supported within a tight $4 to $5 range since November, when the Organization of the Petroleum Exporting Countries and other producers agreed to cut...

  • SINGAPORE, Feb 27- Oil prices edged higher on Monday, with Brent oil set to rise for five out of seven sessions as a global supply glut appears to ease, but rising U.S. production limited gains. But the market has been supported within a tight $4 to $5 range since November, when the Organization of the Petroleum Exporting Countries and other producers agreed to cut...

  • But the market has been supported within a tight $4 to $5 range since November, when the Organization of the Petroleum Exporting Countries and other producers agreed to cut production. OPEC's record compliance with the deal has surprised the market, and the biggest laggards, the United Arab Emirates and Iraq, have pledged to catch up with their targets.

  • NEW YORK, Feb 26- Passive investment funds are poised to shift an estimated $2 billion from far-term to near-term crude futures over the next week, anticipating an energy market rally as a historic OPEC output cut slashes supply. The switch may foreshadow the end of a global oil glut that built up during a two-year price war. On Friday, the Brent May contract price...

  • *OPEC compliance 88 percent based on industry average. *LBBW cuts year-end Brent price forecast by $5 to $55/ bbl. NEW YORK, Feb 24- Oil prices fell about 1 percent on Friday as worries about rising U.S. supplies outweighed OPEC pledges to boost compliance with output curbs.