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Oil Prices Drop Over $1 After Top Producers Delay Meeting To Discuss Output Cuts
Oil prices slipped more than $1 a barrel on Monday, after the world's top producers delayed a meeting to discuss output cuts that could partly alleviate oversupply in global markets as the coronavirus pandemic pummels demand.
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Crude Oil Price Drops Nearly 4% As Delayed Producer Meet Causes Oversupply
The world's top producers delayed a meeting to discuss output cuts that could partly alleviate oversupply in global markets
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Oil's Unparalleled Demand Crash Likely To Be Gamechanger For Industry
Goldman sees around 20 million barrels a day flowing into storage in April, while IHS Markit expects the world will run out of space to store oil by the middle of the year.
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Oil Price Rises Above $60 A Barrel Mark After A Week As US Inventories Drop
Brent crude had gained 32 cents, or 0.50 per cent, to $60.35 a barrel by 9:33 am, after settling 0.5 per cent higher on Tuesday.
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Crude Oil Falls 1% On Concerns Of Economic Slowdown, Oversupply
Traders said futures crude oil prices fell on expectations of oversupply amid surging US production and concerns about a global economic slowdown. Oil prices ended 2018 lower for the first time since 2015, after a desultory fourth quarter that saw buyers flee the market over growing worries about too much supply and mixed signals related to renewed...
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Crude Oil Prices Near One-Year Low On Fears Of Oversupply, Falling Demand
Both major oil futures contracts rallied sharply on Wednesday but are now at or close to their lowest levels for over 14 months, more than 30 per cent below multi-year highs reached at the beginning of October.
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Rupee Weakens To End At 70.90 Against Dollar: 10 Things To Know
The rupee fell by 44 paise against the dollar to close at 70.90 on Thursday, as against its previous close of 70.46, reported news agency Press Trust of India (PTI). Weakness in the domestic equity markets along with strength in the dollar pulled the rupee lower, leading to a 0.6 per cent fall in the currency A sharp fall in crude oil prices, in a...
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Crude Oil Stable On Weaker Dollar, But Pockets Of Oversupply Linger
Ongoing weakness in the US dollar, which potentially stokes demand from countries using other currencies at home, as well as healthy economic growth were supporting oil markets, traders said.
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Crude Oil Price Breaks Five-Week Rally On Oversupply Fears
Brent futures settled down 2.4 per cent, or $1.38 a barrel, to $55.62, snapping a five-week winning streak that was the longest since June 2016.
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Why Global Crude Oil Prices Could Fall Even Lower
Oil prices have declined for four straight weeks as U.S. drillers continue to add rigs, blunting OPEC-led efforts to rebalance an oversupplied market.
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Saudi Aramco Discusses Possible Oil Supply Cuts For February: Report
The potential supply cuts are aimed at meeting Saudi Arabia's commitment to cut production in a deal by the Organization of the Petroleum Exporting Countries to reduce global oversupply and prop up prices.
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Oil Prices Rise On Expected Drop In US Oil Inventories
OPEC member Kuwait also lifted expectations that producers will stick to a deal to reduce oversupply by scaling back production after its state-owned oil producer said on Wednesday it would cut output in the first quarter.
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US Oil Prices Steady Ahead Of Election, But Oversupply Still Weighs
Oil prices were stable early on Tuesday after posting strong gains the previous day, with investors piling money into financial markets in expectation that Democrat Hillary Clinton would win the US presidential election.
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Saudi Arabia, Gulf OPEC Ready To Cut Oil Output By 4%: Report
The four per cent offer is likely to be made at a meeting of OPEC experts and officials from other oil producers such as Russia on October 28-29 in Vienna.
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All Hail Saudi Arabia's Victory In War On High-Cost Oil
Saudi oil minister Khalid Al-Falih said at last week's Oil & Money conference in London, if OPEC had cut output in November 2014 to support prices, it would have had to do so again in 2015 and 2016.
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Oil Prices Drop Over $1 After Top Producers Delay Meeting To Discuss Output Cuts
Oil prices slipped more than $1 a barrel on Monday, after the world's top producers delayed a meeting to discuss output cuts that could partly alleviate oversupply in global markets as the coronavirus pandemic pummels demand.
-
Crude Oil Price Drops Nearly 4% As Delayed Producer Meet Causes Oversupply
The world's top producers delayed a meeting to discuss output cuts that could partly alleviate oversupply in global markets
-
Oil's Unparalleled Demand Crash Likely To Be Gamechanger For Industry
Goldman sees around 20 million barrels a day flowing into storage in April, while IHS Markit expects the world will run out of space to store oil by the middle of the year.
-
Oil Price Rises Above $60 A Barrel Mark After A Week As US Inventories Drop
Brent crude had gained 32 cents, or 0.50 per cent, to $60.35 a barrel by 9:33 am, after settling 0.5 per cent higher on Tuesday.
-
Crude Oil Falls 1% On Concerns Of Economic Slowdown, Oversupply
Traders said futures crude oil prices fell on expectations of oversupply amid surging US production and concerns about a global economic slowdown. Oil prices ended 2018 lower for the first time since 2015, after a desultory fourth quarter that saw buyers flee the market over growing worries about too much supply and mixed signals related to renewed...
-
Crude Oil Prices Near One-Year Low On Fears Of Oversupply, Falling Demand
Both major oil futures contracts rallied sharply on Wednesday but are now at or close to their lowest levels for over 14 months, more than 30 per cent below multi-year highs reached at the beginning of October.
-
Rupee Weakens To End At 70.90 Against Dollar: 10 Things To Know
The rupee fell by 44 paise against the dollar to close at 70.90 on Thursday, as against its previous close of 70.46, reported news agency Press Trust of India (PTI). Weakness in the domestic equity markets along with strength in the dollar pulled the rupee lower, leading to a 0.6 per cent fall in the currency A sharp fall in crude oil prices, in a...
-
Crude Oil Stable On Weaker Dollar, But Pockets Of Oversupply Linger
Ongoing weakness in the US dollar, which potentially stokes demand from countries using other currencies at home, as well as healthy economic growth were supporting oil markets, traders said.
-
Crude Oil Price Breaks Five-Week Rally On Oversupply Fears
Brent futures settled down 2.4 per cent, or $1.38 a barrel, to $55.62, snapping a five-week winning streak that was the longest since June 2016.
-
Why Global Crude Oil Prices Could Fall Even Lower
Oil prices have declined for four straight weeks as U.S. drillers continue to add rigs, blunting OPEC-led efforts to rebalance an oversupplied market.
-
Saudi Aramco Discusses Possible Oil Supply Cuts For February: Report
The potential supply cuts are aimed at meeting Saudi Arabia's commitment to cut production in a deal by the Organization of the Petroleum Exporting Countries to reduce global oversupply and prop up prices.
-
Oil Prices Rise On Expected Drop In US Oil Inventories
OPEC member Kuwait also lifted expectations that producers will stick to a deal to reduce oversupply by scaling back production after its state-owned oil producer said on Wednesday it would cut output in the first quarter.
-
US Oil Prices Steady Ahead Of Election, But Oversupply Still Weighs
Oil prices were stable early on Tuesday after posting strong gains the previous day, with investors piling money into financial markets in expectation that Democrat Hillary Clinton would win the US presidential election.
-
Saudi Arabia, Gulf OPEC Ready To Cut Oil Output By 4%: Report
The four per cent offer is likely to be made at a meeting of OPEC experts and officials from other oil producers such as Russia on October 28-29 in Vienna.
-
All Hail Saudi Arabia's Victory In War On High-Cost Oil
Saudi oil minister Khalid Al-Falih said at last week's Oil & Money conference in London, if OPEC had cut output in November 2014 to support prices, it would have had to do so again in 2015 and 2016.
