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International Organizations OPEC

  • LONDON, March 28- Major oil traders gathered in Switzerland this week said they expected OPEC and non- OPEC producers to extend their pact to curb output in the second half of this year, providing Russia complies. An unexpectedly quick return of U.S. shale production since OPEC and non- OPEC producers agreed in December to limit oil production has put the brakes on a...

  • DUBAI, March 28- Abu Dhabi National Oil Company said on Tuesday it had informed customers of cuts in crude allocations for May, in line with the OPEC agreement to limit oil supplies.

  • LONDON, March 28- Progress towards oil-market rebalancing and the need for an extension of production cuts by OPEC and non- OPEC countries has become the most contentious issue in the oil market. Goldman expects oil stocks in the OECD to fall to the five-year average in terms of demand cover by the end of 2017, even if OPEC brings production back on line in the...

  • LONDON, March 28- Progress towards oil-market rebalancing and the need for an extension of production cuts by OPEC and non- OPEC countries has become the most contentious issue in the oil market. Goldman expects oil stocks in the OECD to fall to the five-year average in terms of demand cover by the end of 2017, even if OPEC brings production back on line in the...

  • LONDON, March 28- Progress towards oil-market rebalancing and the need for an extension of production cuts by OPEC and non- OPEC countries has become the most contentious issue in the oil market. Goldman expects oil stocks in the OECD to fall to the five-year average in terms of demand cover by the end of 2017, even if OPEC brings production back on line in the...

  • LONDON, March 28- Progress towards oil-market rebalancing and the need for an extension of production cuts by OPEC and non- OPEC countries has become the most contentious issue in the oil market. Goldman expects oil stocks in the OECD to fall to the five-year average in terms of demand cover by the end of 2017, even if OPEC brings production back on line in the...

  • *Libya supply cut by a third due to armed faction action. *Iran minister says OPEC deal "likely" to be extended. LONDON, March 28- Oil prices rose on Tuesday thanks to a weakened dollar, supply disruption in Libya and the latest comments from officials suggesting OPEC could extend its deal cutting global production.

  • *Iran minister says OPEC deal "likely" to be extended. LONDON, March 28- Oil prices rose on Tuesday thanks to a weakened dollar, supply disruption in Libya and the latest comments from officials suggesting OPEC could extend its deal cutting global production. In the United States, West Texas Intermediate crude futures were up 48 cents at $48.21 a barrel.

  • SINGAPORE, March 28- Oil prices rose on Tuesday, supported by a weaker dollar, but crude continued to be weighed down by surging U.S. production and uncertainty over whether an OPEC- led supply cut is big enough to rebalance the market. Prices for front-month Brent crude futures, the international benchmark for oil, had gained 18 cents from their last close to $50.93...

  • LIBREVILLE/ DAKAR, March 28- Charles Lekabi lived comfortably as a driver for an oil company in Gabon's industrial town of Port Gentil until he was laid off three years ago. In OPEC member Gabon, production is in decline, the recovery is slow and may not come at all. The oil sector has accounted for 80 percent of exports, 45 percent of gross domestic product, and 60...

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

    A surge in oil hedges will spur drilling activity in the U.S., Wood Mackenzie said in a report released on Monday.

  • SINGAPORE, March 28- Oil prices rose on Tuesday, supported by a weak dollar, but crude continued to be weighed down by surging U.S. production and uncertainty over whether an OPEC- led supply cut is big enough to rebalance the market. Prices for front-month Brent crude futures, the international benchmark for oil, had gained 20 cents from their last close to $50.95...

  • CARACAS, March 27- Venezuela next week will launch a new currency exchange mechanism to replace the DICOM rate, also known as SIMADI, President Nicolas Maduro said late on Monday in a televised speech as the OPEC nation suffers a deep economic crisis. "In a process of perfecting the system of collecting, administering and stabilizing the flow of hard currency in...

  • A worker stands on pipes at an offshore oil engineering company in Qingdao, in China's eastern Shandong province.

    The oil market is re-balancing but high inventories and U.S. output is offsetting an OPEC output cut and Asian demand growth, an IEA official said.

  • SINGAPORE, March 28- Oil prices edged up on Tuesday on a weaker dollar, but crude continued to be weighed down by surging U.S. production and uncertainty over whether an OPEC- led supply cut is big enough to rebalance the market. Prices for front-month Brent crude futures, the international benchmark for oil, had risen 15 cents from their last close to $50.90 per...

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

    Uncertainty over whether an OPEC-led production cut will be extended beyond June weighed on oil prices.

  • *OPEC, non- OPEC producers review extension of production cuts. NEW YORK, March 27- Oil resumed its slide on Monday as investors remained uncertain whether producing nations would extend an OPEC- led output cut beyond the end of June in an effort to reduce a global glut of crude. On Sunday, a committee of ministers from OPEC and outside producers agreed to look at...

  • *OPEC, non- OPEC producers review extension of production cuts. NEW YORK, March 27- Oil resumed its slide on Monday as investors remained uncertain whether producing nations will extend an OPEC- led output cut beyond the end of June in an effort to reduce a global glut of crude. On Sunday, a committee of ministers from OPEC and outside producers agreed to look at...

  • Dehaan: This is really a story of an early Christmas for Canada

    Helima Croft, Managing Director, RBC Capital Markets and Patrick Dehaan, Senior Petroleum Analyst, GasBuddy.com, weigh in on the Keystone XL impact on oil markets and OPEC'S next move.

  • *OPEC, non- OPEC producers review extension of production cuts. LONDON, March 27- Oil fell further towards $50 a barrel on Monday, pressured by uncertainty over whether an OPEC- led production cut will be extended beyond June in an effort to counter a glut of crude. A committee of ministers from OPEC and outside producers agreed on Sunday to look at prolonging the deal,...