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Look for oil prices to spike if hostility between Iran and Saudi Arabia gets worse

If friction between Saudi Arabia and Iran persists, in addition to attacks on targets such as embassies, look for oil’s first move of the new year to be a spike. A furor has erupted in both countries, and across the ...

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Oil price to rise only gradually to USD 80 by 2020

The International Energy Agency said that oil is unlikely to return to USD 80 a barrel before the end of the next decade, despite unprecedented declines in investment, as yearly demand growth struggles to top 1 million barrels per day. ...

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Global oil price recovery seen as downturn spurs M&A activity

According to Sanford C Bernstein & Co, global oil and gas acquisitions should accelerate heading into 2016 and a recovery in crude prices may follow. According to the report, national oil companies in Asia will probably resume purchases with PetroChina ...

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Oil price slump causing onshore project delays

An industry expert said that the substantial fall in oil prices has weakened the onshore market, causing project delays and a focus on reducing costs for pipeline owners. Mr Matt Loffman, author of the 8th edition of the World Onshore ...

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Oil gains a 2nd day as US drilling slumps to 5-year low

Oil rose for a second day in New York after the number of drilling rigs used in the US slumped to a five-year low, signaling that output may slow and pare a global glut. West Texas Intermediate futures climbed as ...

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Russia is ready to meet OPEC to talk oil prices

According to the country’s oil minister, Russia is ready to meet with members of the Organization of Petroleum-Exporting Countries, as well as non-member oil producers, to discuss the situation facing global oil markets. Alluding to a possible meeting with the ...

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China, Iran to put brakes on oil price recovery: poll

Global oversupply and more Iranian production are likely to keep a lid on oil prices next year, offsetting any slowdown in U.S. shale output, a Reuters poll showed on Wednesday. Benchmark North Sea Brent crude is expected to average $58.60 ...

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Russian oil output could fall 5pct to 10pct if prices low for years

Mr Arkady Dvorkovich, Deputy Prime Minister of Russia, said the Reuters Russian Investment Summit that Russian oil production could fall by up to 10 percent if world prices stay consistently low for a long period. But he said that it ...

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Oil prices, stock market find themselves in strange relationship

Crude-oil futures and the U.S. stock market are linked in a strange dance. Lately, oil has been moving nearly in lock step with equities. The correlation over the past month has been uncanny. In statistical terms, correlation is defined as ...

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Saudi king and Venezuela president discuss oil price recovery

According to the South American country’s government, Mr Nicolas Maduro, Venezuelan President and Saudi King Salman have spoken on the phone and discussed OPEC, which is pushing for action to boost low oil prices that have battered its economy. Mr ...

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