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  • JEDDAH, Saudi Arabia, April 19- A global oil glut has been virtually eliminated, according to a joint OPEC and non- OPEC technical panel, two sources familiar with the matter said, thanks in part to an OPEC- led supply cut deal in place since January 2017. Although OPEC is closing in on the original target of the pact, there is no indication yet that top exporter Saudi...

  • KUWAIT, April 16- Kuwait's oil minister said on Monday a pact between OPEC and non- OPEC producers to curb supplies would run to the end of the year and market conditions would determine whether to extend it further. He added that "it would depend on market conditions whether to extend this agreement beyond 2018 or to reach a permanent agreement between OPEC and non-...

  • NEW YORK, April 13- Oil prices rose on Friday, making the largest weekly gain since July, supported by concerns about the possibility of Western military action in Syria and reports of dwindling global oil inventories. The prospect of military action in Syria that could lead to confrontation with Russia hung over the Middle East but there was no sign a U.S.-led...

  • NEW YORK, April 13- Oil prices rose on Friday and were headed for their largest weekly gain since July, amid support from concerns over the prospect of Western military action in Syria and reports of dwindling global oil stocks. The prospect of military action in Syria that could lead to confrontation with Russia hung over the Middle East but there was no sign a...

  • *OPEC and IEA see oil markets tightening. The prospect of Western military action in Syria that could lead to confrontation with Russia hung over the Middle East but there was no clear sign that a U.S.-led attack was imminent. "Syria is a client state of both Russia and Iran and the risk for escalation is quite high and I think that is what the market is worried about."

  • *OPEC still plans to extend supply cuts into 2019. LONDON, April 13- OPEC and its allies appear to have accomplished their mission of reducing global oil stocks to desired levels, the International Energy Agency said on Friday, signalling that the market could become too tight if supply remains restrained. Vienna- based OPEC has reduced production in tandem with...

  • *OPEC and IEA see oil markets tightening. Recovering from earlier losses, Brent crude was up 28 cents at $72.30 a barrel by 1301 GMT and set for a weekly gain of almost 8 percent, or about $5. Both oil benchmarks hit their highest since late 2014 on Wednesday after Trump warned that missiles "will be coming" in response to a suspected gas attack in Syria and after Saudi...

  • *OPEC and IEA see oil markets tightening. President Donald Trump's comments about possible military action in Syria and reports of dwindling global oil stocks. Both oil benchmarks hit their highest since late 2014 on Wednesday after Trump warned that missiles "will be coming" in response to a suspected gas attack in Syria and after Saudi Arabia said it...

  • *OPEC and IEA see oil markets tightening. President Trump's comments about possible military action in Syria and reports of dwindling global oil stocks. Both oil benchmarks hit their highest since late 2014 on Wednesday after Trump warned that missiles "will be coming" in response to a suspected gas attack in Syria and after Saudi Arabia said it intercepted...

  • *OPEC and IEA see oil markets tightening. President Trump's comments about possible military action in Syria and reports of dwindling global oil stocks. Both benchmarks hit their highest since late 2014 on Wednesday after Trump warned that missiles "will be coming" in response to a suspected gas attack in Syria and after Saudi Arabia said it intercepted...

  • *OPEC still planning to extend supply cuts into 2019. LONDON, April 13- OPEC and its allies appear to have accomplished their mission of bringing global oil stocks to desired levels, the International Energy Agency said on Friday, signaling that the markets could become too tight if supply remains restrained. Vienna- based OPEC has reduced production in tandem...

  • Demand for jet fuel has increased over the last two years as the global economy has strengthened and airplane passenger traffic has risen, said Sandy Fielden, director of oil and products research at Morningstar Commodities in Austin, Texas. Ultra-low sulfur diesel futures, used as a proxy for the jet and kerosene markets, reached $2.1431 a gallon on Jan. 26 on the...

  • *OPEC sees oil markets tightening even as U.S. produces more. *OPEC/ Russia supply cuts set to be extended into 2019. LONDON, April 12- Oil prices edged off highs last reached in late 2014 due to rising U.S. stocks but remained well supported by mounting geopolitical tension in the Middle East, shrinking global oil inventories and expectations of a supply cut...

  • *Strong car sales, OPEC cuts to support oil market. LONDON/ NEW DELHI, April 12- The global oil stocks surplus is close to evaporating, OPEC said on Thursday, citing healthy energy demand and its own supply cuts while revising up its forecast for production from rivals who have benefited from higher oil prices. But as oil production collapsed in OPEC member Venezuela...

  • NEW DELHI, April 12- OPEC and its oil producer allies are poised to extend their supply-cutting pact into 2019 even as a global glut of crude is set to evaporate by September, OPEC Secretary-General Mohammad Barkindo said on Thursday. In an interview with Reuters in New Delhi, Barkindo said the initial draft of a longer-term alliance agreement between the...

  • *Strong car sales, OPEC cuts to support oil market. But as oil production collapsed in OPEC member Venezuela and is still facing hiccups in countries such as Libya and Angola, the oil exporters' group is still producing below its targets meaning the world needs to use stocks to meet rising demand. "High conformity levels observed by OPEC and non- OPEC producing...

  • LONDON, April 12- OPEC on Thursday revised its forecast for supply growth from its rivals for 2018 by nearly three times more than its revised projection of growth in global oil demand. It said growth in non- OPEC oil supply was forecast to rise by a further 80,000 barrels per day this year to 1.71 million bpd, driven largely by higher-than-anticipated growth in the...

  • *Budapest stocks rise, OTP bucks trend after Raiffeisen plunges. BUDAPEST, April 9- Hungarian stocks, bonds and currency all gained on Monday after Prime Minister Viktor Orban won a third term in Sunday's election, eliminating the risk of unpredictable policy changes Budapest's main stock index rose 0.8 percent by 1325 GMT., A group of stocks, including holding...

  • VIENNA, April 9- Telekom Austria has roughly 1 billion euros to spend on acquisitions in the countries in which it is already present as well as new eastern European markets, its Chief Executive Alejandro Plater said on Monday. Telekom Austria, the central and eastern European unit of Mexican tycoon Carlos Slim's America Movil, operates in seven eastern...

  • 7 cities confirm interest in hosting 2026 Winter Olympics

    Seven cities, or joint-bidding cities have expressed interest in hosting the 2026 Winter Olympics.