Tag Archives: oil

Global shares mixed as trade worries loom; oil surges

NEW YORK (Reuters) – Concerns over China-U.S. trade tensions gave European shares their worst week of losses in two months and sank U.S. stocks on Friday, overshadowing the lift from higher oil prices and jobs data. While Europe was higher on the day with a small recovery after three sessions of heavy losses, the trade standoff between Washington and Beijing ...

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OPEC, Russia agree to slash oil output despite Trump pressure

VIENNA (Reuters) – OPEC and its Russia-led allies agreed on Friday to slash oil production by more than the market had expected despite pressure from U.S. President Donald Trump to reduce the price of crude. The producer club will curb output from January by 0.8 million barrels per day versus October levels while non-OPEC allies contribute an additional 0.4 million ...

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Shares mixed, Wall Street drops on trade worries; oil surges

NEW YORK (Reuters) – Stock markets around the world were mixed, with U.S. shares retreating on Friday amid continuing concerns over U.S.-China trade ties, while pledges by key oil producers to trim output boosted oil prices. Oil prices surged 4 percent after big Middle East producers in OPEC agreed to reduce output to drain global fuel inventories and support the ...

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China’s Iran oil imports to rebound in December as buyers use U.S. waivers

BEIJING/SINGAPORE (Reuters) – China’s Iranian oil imports are set to rebound in December after two state-owned refiners in the world’s largest oil importer began using the nation’s waiver from U.S. sanctions on Iran, according to industry sources and data on Refinitiv Eikon. Oil and gas tanks are seen at an oil warehouse at a port in Zhuhai, China October 22, ...

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Oil slides as OPEC ties supply cut to Russia; Moscow said to only back limited move

SINGAPORE (Reuters) – Oil prices fell on Friday, pulled down by OPEC’s move to delay a final decision on output cuts as its awaits support from heavyweight supplier Russia, which is reported to not want to reduce its output by more than 150,000 barrels per day (bpd). A pumpjack is seen at sunset outside Scheibenhard, near Strasbourg, France, October 6, ...

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Who really influences the price of oil?

Opec, the Organization of the Petroleum Exporting Countries, has certainly had its share of criticism over many years. President Trump recently accused the group of “ripping off the rest of the world” and keeping oil prices “artificially high”. It has sometimes been charged with holding the world to ransom – notably in the mid-1970s when it cut supplies and the ...

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Asia shares struggle to rally, oil skids further

SYDNEY (Reuters) – Asian shares fought to sustain the slimmest of recoveries on Friday amid speculation the Federal Reserve might be “one-and-done” with U.S. rate hikes, while oil fell anew as producers bickered over the details of an output cut. A digital board displays stock information at a brokerage office in Beijing, China, December 7, 2018. REUTERS/Thomas Peter MSCI’s broadest ...

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In major shift, U.S. now exports more oil than it ships in

(Reuters) – The United States last week exported more crude oil and fuel than it imported for the first time on record, according to data released on Thursday, the same day OPEC ended a meeting without a decision to curb global output to balance out the historic surge in U.S. supply. FILE PHOTO: A tug boat navigates the Houston ship ...

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