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Tag Archives: OPEC39s

Oil prices fall on OPEC's output deal, but markets remain tight

SINGAPORE (Reuters) – The oil price fell on Monday, as traders calculated an expected increase in production of 1 million barrels a day (bpd) following the meeting of the Organization of Petroleum Exporting Countries (OPEC) in Vienna last week. Bottles of crude oil can be seen in this picture. 1 June 2017. REUTERS / Thomas White / Illustration Nonetheless, analysts …

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Goldman Sachs says American oil drama trumps OPEC's Viennese chaos

The most dramatic events in last week's oil market took place in North America, in contrast to the OPEC meeting in Europe, according to Goldman Sachs Group Inc. The Bank says the Oil Sands Failure An investment in Canada could become one North America shortage for the entire month of July and reduce shrinkage at the US storage location in …

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Oil prices fall on OPEC's output deal, but markets remain tight

SINGAPORE (Reuters) – The oil price fell on Monday, as traders calculated an expected increase in production of 1 million barrels a day (bpd) following the meeting of the Organization of Petroleum Exporting Countries (OPEC) in Vienna last week. On February 24, 2014, a section of the BP Eastern Trough Area (ETAP) oil rig can be seen in the North …

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The oil price is falling due to OPEC's announced production expansion, but the markets remain tense

SINGAPORE (Reuters) – Crude oil prices for Brent crude oil fell more than 1.5 percent on Monday as traders anticipated an expected increase in production agreed Friday at the headquarters of the Organization of Petroleum Exporting Countries (OPEC) in Vienna , FILE PHOTO: In Velma, Oklahoma, April 7, 2016, an oil pumping jacket is seen. REUTERS / Luc Cohen Nonetheless, …

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Why OPEC's new supply contract does not add much oil to the markets

LONDON / VIENNA (Reuters) – The Organization of Petroleum Exporting Countries agreed in principle on Friday to increase production to meet a production target that it introduced in early 2017 but has since undercut. FILE PHOTO: The logo of the Organization of Petroleum Exporting Countries (OPEC) can be seen on 19 June 2018 at OPEC Headquarters in Vienna. REUTERS / …

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5 things investors need to know about OPEC's decision to increase oil production

The Organization of Petroleum Exporting Countries agreed Friday to cut back production cuts in member countries and substantially increase production to offset an expected shortage of global supplies. However, the expected increase in production seems to be lower than market participants expected. Investors need to know: What did OPEC say? In a statement, OPEC said that it had "decided that …

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