Oil market heads towards ‘smooth rebalancing’: OPEC

After long years of punishingly low oil prices, the global oil market is moving closer to reaching a healthy balance between supply and demand, OPEC said on Thursday. In its monthly oil market report, the Organization of Petroleum Exporting Countries said there were “growing indications that the oil market is heading smoothly toward rebalancing.” Prices were… Please follow and like us:

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Crude Oil Price Hits May 2015 High At $67 Per Barrel

Oil price wednesday hit $67 per barrel for the first time since May 2015, before dropping to $66.27 despite the supply disruptions in Libya and the North Sea. The prices of both crude futures fell after hitting a near two-and-a-half year high in the previous session as analysts said the rally was gradually running out of… Please follow and like us:

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OPEC Decides Nigeria’s Oil Output Today

The Organisation of the petroleum exporting Countries (OPEC) will today debate on whether to cap oil output from Nigeria and Libya, which have so far been excluded from supply curbs due to falling production amid unrest. Two sources with knowledge of the matter told LEADERSHIP that the 14-member OPEC will meet today to decide whether to… Please follow and like us:

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Crude Oil Suffers Setback As More Traders Opt for U.S. Blend

Nigeria’s crude oil is under serious pressure at the international market, as Asian refiners have increasingly been moving away from their usual favourite, frequently opting for United State (U.S) crude oil, the Organisation of the Petroleum Exporting Countries (OPEC) has said. Besides, Nigeria’s crude oil production declined by 54,200 barrels per day (bpd) from the 1.792bpd… Please follow and like us:

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Will The Oil Industry Listen To Investors?

“Is the oil industry ready to give investors what they want?” asks a new research note from equity analysts at Sanford C Bernstein. After nearly three years of industry instability, as the price of oil has remained depressed, oil majors have cut costs and mega projects have been put on ice, is the industry finally ready… Please follow and like us:

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Foolish US Energy Policy Concentrates Refineries in Vulnerable Gulf States

(Joshua Paladino, Liberty Headlines) Gas prices could rise from 10 to 25 cents throughout the country because of Hurricane Harvey, which has stalled America’s oil refining capabilities this week. Photo by roy.luck (CC) Prices have already risen in states most immediately affected, such as Texas, which saw a small hike over the weekend. Harvey will hit… Please follow and like us:

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OPEC Predicts Higher Demand for Oil in 2018

The Organisation of Petroleum Exporting Countries (OPEC) has predicted a higher demand for its crude oil in 2018, citing rising global demand, and pointing to strong indications that the glut in the oil market is easing. In its monthly Oil Market Report (OMR) released thursday, the cartel pointed to signs of a stronger oil market that… Please follow and like us:

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Oil, Canadian Dollar & Yields

This week we wrestled with what to focus our Market Ethos on given the many big moves we have seen in the markets including yields, the Canadian dollar (C$) and oil. Our problem stemmed from the fact that these three topics were covered in the previous three weeks of Market Ethos (you can see what we… Please follow and like us:

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Oil Prices, Production And 5 More Things To Know About OPEC

This article originally appeared on the Motley Fool. OPEC has gotten its share of headlines over the years due to its influence on oil prices. From the oil embargo of the 1970s to the $100-plus per barrel crude prices of just a few years ago, the Organization of Petroleum Exporting Countries has held significant sway over… Please follow and like us:

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OPEC extends cuts in oil output by nine months

The Organization of Petroleum Exporting Countries (OPEC) decided on Thursday to extend cuts in oil output by nine months until March 2018, as the producer group battles a global excess of crude that has seen prices halve and revenues drop sharply in the past three years. The cuts are likely to also be implemented by a… Please follow and like us:

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