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Oil rises on demand hopes after days of sell-off

Oil prices rose on Wednesday, boosted by demand hopes on progress made in U.S. vaccine rollouts, while uncertainty over how much supply OPEC+ will restore to the market at its…

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Oil prices climb after progress on huge U.S. stimulus bill

Oil prices rebounded more than $1 on Monday after the U.S. House of Representatives passed a huge stimulus package, although a drop in China's February factory activity growth capped gains.…

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Nigeria losing 200,000 barrels a day to theft, vandalism

Nigeria is losing 200,000 barrels of crude oil a day because of theft and vandalism, the head of the state oil company said, underscoring how insecurity is causing vast financial…

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Oil set for steady gains as economies shake off pandemic blues

Oil prices will stage a steady recovery this year as vaccines reach more people and speed an economic revival, with further impetus coming from stimulus and output discipline by top…

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Oil prices fall on rising U.S. dollar, expectations for supply gains

Oil prices fell on Friday as a collapse in bond prices led to gains in the U.S. dollar and expectations grew that with oil prices back above pre-pandemic levels, more…

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Oil prices hit 13-month high

Oil prices rose for a fourth straight session on Thursday to the highest levels in more than 13 months, underpinned by monetary easing policies and lower crude production in the…

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Saudi oil export value falls nearly 30% in December – official data

The value of Saudi Arabia's oil exports in December dropped nearly 30%, or 19.5 billion riyals ($5.2 billion), compared with the year before, official data showed on Wednesday. The value…

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Oil slips after U.S. crude stocks rise amid deep freeze hit to refiners

Oil prices fell on Wednesday after industry data showed a surprise build in U.S. crude stocks last week as a deep freeze in the southern states curbed demand from refineries…

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Oil prices jump more than $1 as U.S. output struggles to fully restart

Oil prices jumped by more than $1 on Tuesday, underpinned by optimism over COVID-19 vaccine rollouts and lower output as U.S. supplies were slow to return after a deep freeze in…

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Oil gains as U.S. production slowly returns after freeze

Oil prices rose on Monday as the slow return of U.S. crude output that was cut by frigid conditions raised concerns about supply just as demand is coming back from…

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Oil drops as investors gauge big chill impact on U.S. refineries

Oil prices slid by up to 2% in early trade on Friday, adding to overnight declines, on worries that refineries will take time to resume operations after the big freeze…

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Oil prices extend gains as Texas cold snap cuts U.S. output

Oil prices rose as much as a dollar on Thursday, extending this week's gains and hitting 13-month highs, as a cold snap sweeping Texas and surrounding regions shut at least…

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Oil retreats on rising U.S. dollar, though Texas supply choked

Oil prices fell in early trade on Wednesday as the U.S. dollar climbed, retreating after a two-day rally that was driven by an Arctic blast curbing output from oil and…

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Global shares hit record high on COVID recovery bet

Global shares hit record highs on Tuesday and were on track for their longest winning streak in 17 years as investors bet the rollout of COVID-19 vaccines would lead to a durable…

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Oil prices fall for a second day as OPEC, IEA caution ends rally

Oil prices fell a second day on Friday, extending losses after OPEC cut its demand forecast and the International Energy Agency said the market was still over-supplied. Brent crude was…

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Oil drops after strong rally, demand hopes limit losses

Oil prices fell on Thursday, giving up some of the recent strong gains on profit-taking and speculation that the market's strength could tempt producers like Saudi Arabia to reduce output…

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Stocks rise in Asia after U.S. records, dollar weakens

Asian stock markets rose on Tuesday after a record-setting day on Wall Street, while bitcoin paused for breath after an overnight endorsement from Tesla Inc sent the cryptocurrency up 20%.…

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Oil price rises slightly after OPEC+ confirms cuts

Oil ticked up on Thursday on strong U.S. economic data, falling inventories and the OPEC+ decision to stick to its output cuts, but a stronger U.S. dollar limited the gains. Brent…

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Oil steady as supply cuts offset demand worries on stalled vaccine rollouts

Oil prices were steady on Friday, sticking to ranges seen over the past three weeks, as investors looked for signs of changing supply and demand fundamentals. A cut in Saudi Arabia's oil supply…

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Oil price slides continues as hopes for rapid approval of US stimulus plan fades

Oil prices fell on Tuesday as fading hopes for a rapid approval of new U.S. economic stimulus and mounting new coronavirus cases raised questions over the pace of any recovery in…

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Libyan oil guards allow work to resume at two main ports

TRIPOLI, Jan 25 (Reuters) - Libya's Petroleum Facility Guards (PFG) have ended their brief blockade of the ports of Ras Lanuf and Es Sider, allowing oil exports to resume there,…

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Oil drops as new COVID cases in China trigger clampdowns

Oil prices dropped on Friday, retreating further from 11-month highs hit last week, weighed down by worries that new pandemic restrictions in China will curb fuel demand in the world's…

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Oil slips on surprise rise in U.S. crude stocks

Oil slipped on Thursday after industry data showed a surprise build in U.S. crude inventories that reignited pandemic-led demand concerns, but stimulus hopes in the United States limited the downturn…

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Saudi Arabia pips Russia to be China’s biggest oil supplier in 2020

Saudi Arabia, the world's biggest oil exporter, beat Russia to keep its ranking as China's top crude supplier in 2020, Chinese government data showed on Wednesday. Oil demand in China,…

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Oil extends gains on hopes of U.S. stimulus and crude stocks drawdown

Oil prices rose on Wednesday, adding to solid gains overnight, on expectations the incoming U.S. administration will go ahead with massive stimulus spending that would boost fuel demand and draw…

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Oil drops 1% as rising coronavirus cases end supply-led rally

Oil prices fell on Monday, extending losses that last week ended a rally driven by production cuts and strong Chinese demand, with the market's recovery outlook being called into question…

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Oil prices drop further after China lockdown

Oil prices were lower on Friday as concerns about Chinese cities in lockdown due to coronavirus outbreaks tempered a rally driven by strong import data from the world's biggest crude importer…

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Oil prices go lower with rising virus cases

Oil prices slipped on Tuesday as investors remained concerned about climbing coronavirus cases globally, though an anticipated drawdown in crude oil inventory in the United States for a fifth straight week stemmed losses.…

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Oil hovers near 11-mth highs, sustained by Saudi output cuts pledge

Oil prices held near 11-month highs on Friday and were on track for a strong weekly gain as Saudi Arabia's pledge to cut output continued to buoy market sentiment. Brent…

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Saudi’s surprise output cut to lift Brent to $60/bbl by mid-year – UBS

UBS raised its forecast for Brent oil prices to $60 per barrel by mid-year, following Saudi Arabia's surprise unilateral production cut and expectations of a sharp recovery in demand in…

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Oil price rises as supply constraints remain focus amid U.S. Capitol drama

Oil prices rose on Thursday as Saudi Arabia, the world's biggest exporter, unilaterally agreed to cut output over the next two months and as U.S. crude stockpiles fell. It was…

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Brent oil rises to highest since February after Saudi Arabia output cut

Brent oil prices rose on Wednesday to the highest since February after Saudi Arabia agreed to make bigger cuts in output than expected during a meeting with allied producers, while…

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European shares inch higher as oil, retail stocks jump

European shares edged up on Tuesday, lifted by oil and retail stocks, while investors looked past a new national lockdown in Britain to contain a surge in coronavirus cases. The pan-European STOXX 600 index was up 0.1%…

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OPEC+ deadlocked over raising oil output, to resume talks today

OPEC+ will resume talks today after reaching a deadlock over February oil output levels as Saudi Arabia argued against pumping more due to new lockdowns while Russia led calls for…

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Oil prices touch multi-month highs as OPEC+ expected to cap output

Oil prices touched multi-month highs on Monday on expectations OPEC and allied producers may cap output at current levels in February and on hopes that coronavirus vaccines may help curb…

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Oil prices rise on expectations that OPEC+ likely to maintain output

Oil prices rose on Monday on expectations that OPEC and allied producers may cap output at current levels in February at a meeting later in the day as the coronavirus…

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Russian annual oil output falls for the first time since 2008 on OPEC+ deal, pandemic

Oil production in Russia declined last year for the first time since 2008 and reached its lowest level since 2011 following a global deal to cut output and sluggish demand…

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Oil outlook for 2021 hit by new COVID-19 strain

Oil prices are unlikely to mount much of a recovery in 2021 as a new coronavirus variant and related travel restrictions threaten already weakened fuel demand, a Reuters poll showed…

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Oil set for 20% drop

Global crude oil markets have lost about a fifth of their value in 2020 as strict coronavirus lockdowns paralysed much of the global economy, but prices have rebounded strongly from…

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2020: A challenging year for oil

This year was like no other for oil prices. Even as global prices end the year at about $51 a barrel, near the average for 2015-2017, it masks a year of volatility.…

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Oil rises on U.S. inventory draw, Brexit deal hopes

Oil climbed for a second day on Thursday in light holiday trade as a drawdown in U.S. stockpiles of crude and gasoline raised demand hopes, while hints of an imminent…

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Oil falls on surprise build in U.S. crude stocks, Trump threat to U.S. relief spending

Oil fell in early trade on Wednesday after industry data showed U.S. crude oil stocks rose last week, defying expectations for a decline, and U.S. President Donald Trump rattled markets…

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Oil prices fall amid worries over new coronavirus strain

Oil prices dropped about 3% on Monday as a fast-spreading new coronavirus strain that has shut down much of the United Kingdom fuelled worries over a slower recovery in fuel…

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Oil at 9-month high above $52 as vaccine rollout continues

NEW YORK (Reuters) -Oil hit a nine-month high on Friday and was headed for a seventh straight weekly gain as investors focused on the rollout of COVID-19 vaccines and looked…

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Vaccine impact on moribund oil demand is several months away – IEA

The roll-out of vaccines this month to combat the coronavirus pandemic will not quickly reverse the destruction wrought on global oil demand, International Energy Agency (IEA) warned. “The understandable euphoria…

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Oil prices ease on surprise build in U.S. inventory, demand worries

Oil prices dropped on Wednesday on a surprise gain in crude oil inventories in the United States and as investors continued to worry about demand for fuel being squeezed amid…

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In boost to climate action, Britain to stop backing overseas oil and gas projects

LONDON, Dec 11 (Reuters) - British Prime Minister Boris Johnson will pledge to end direct government support for overseas fossil fuel projects at a U.N. summit on Saturday, aiming to spur similar moves by…

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Oil rises on vaccine rollout, concern on Iraq oilfield attack

Oil prices rose on Thursday, buoyed by a COVID-19 vaccine rollout in Britain and the imminent approval of a vaccine in the United States that could spur a rebound in…

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Oil drops as OPEC+ resume talks on output cut extension after impasse

Oil prices fell on Thursday as producers including Saudi Arabia and Russia locked horns over the need to extend record production cuts set in place in the first wave of…

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Oil prices drop on U.S. stock build, delay in OPEC+ meeting

Oil prices extended losses on Wednesday, hit by a surprise build in oil inventories in the United States and as OPEC and its allies left markets in limbo by delaying…

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Oil rally boosted by surprise fall in U.S. stocks

Oil rose for a fifth day on Thursday after a surprise fall in U.S. crude inventories gave further legs to a rally driven by optimism that vaccines will end the…

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Oil prices extend gains on COVID vaccine hopes

Oil prices extended gains on Monday as traders eyed a recovery in crude demand thanks to successful coronavirus vaccine trials, although prices were contained by renewed lockdowns in several countries.…

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Oil prices ease as rising COVID-19 cases outweigh vaccine optimism

Oil futures eased on Thursday, surrendering some gains from the previous day as the surge in coronavirus cases and tighter economic restrictions around the globe stoked fears over slower fuel…

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Oil mixed as big build in U.S. crude stockpiles raises spectre of supply glut

Oil prices were mixed on Wednesday as a bigger-than-expected build in U.S. crude stocks and weaker U.S. retail sales stoked fears over fuel demand, although hopes that OPEC and its…

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Oil climbs higher on China, Japan rebound, hopes of OPEC+ supply curb

Oil prices climbed on Monday, recouping some losses from the previous session as hopes that OPEC+ will hold current output curbs offset concerns about weaker fuel demand due to rising…

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Libyan oil production recovers faster than expected

Libyan oil production has now reached 1.215 million barrels per day (bpd), a Libyan oil source told Reuters on Friday, as the OPEC member's oil industry recovers faster than expected.…

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Oil falls on COVID-19 surge but on track for weekly gain

Oil prices fell on Friday, pressured by fears about a slow recovery in the global economy and fuel demand due to an accelerating rise in COVID-19 infections, but remained on…

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