Oil

Oil prices climb as investors seek riskier assets, China demand boost

SINGAPORE, Oct 19 (Reuters) - Oil prices climbed on Wednesday, paring losses from the previous session, as investors jumped into more risky assets such as commodities amid gains in broader…

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Oil futures rise on hopes of recovery in China’s fuel demand

Oct 17 (Reuters) - Oil prices rose on Monday after China rolled over liquidity measures to help its pandemic-hit economy, igniting hopes for a better fuel demand outlook from the…

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OPEC Sec Gen says oil markets are going through ‘great fluctuations’

ALGERIA Oct 16 (Reuters) - OPEC Secretary General Haitham Al Ghais said on Sunday that "oil markets are going through a stage of great fluctuations" during his two-day visit to…

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Saudi Arabia says OPEC+ oil cut ‘purely economic’

(Reuters) - Saudi Arabia rejected as "not based on facts" statements criticising the kingdom after an OPEC+ decision last week to cut its oil production target despite U.S. objections, saying…

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OPEC+ oil supply cuts could tip world into recession, IEA says

LONDON, Oct 13 (Reuters) - A decision by the OPEC+ oil producer group last week to rein in output has driven up prices and could push the global economy into…

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Oil prices jittery as market wary of demand risks

Oct 13 (Reuters) - Oil prices struggled to find their footing in Asian trade on Thursday after easing in the previous session on the back of a weakening global demand…

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Oil prices fall as dollar gains, U.S. inflation data in spotlight

Oct 12 (Reuters) - Oil prices slipped for a third straight session on Wednesday as the dollar gained steam and investors braced for U.S. inflation data, while global recession risks…

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Oil prices inch lower as dollar firms, China COVID worries dent demand

Oil prices slid on Tuesday, extending losses of nearly 2% in the previous session, as a stronger U.S. dollar and a flare-up in COVID-19 cases in China raised concerns of…

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Hungary, Serbia agree to build pipeline to ship Russian oil to Serbia

BUDAPEST, Oct 10 (Reuters) - Hungary and Serbia have agreed to build an oil pipeline that would allow Serbia to be supplied with Russian Urals crude via the Druzhba oil…

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Oil falls as investors take profit on China demand concerns

SINGAPORE, Oct 10 (Reuters) - Oil prices fell on Monday, snapping five days of gains, as investors took profits after a report on slowing economic activity in China, the world's…

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Libya’s oil revenue during first nine months at $13.5 bln- central bank

(Reuters) - Libya’s oil revenue during the first nine months of 2022 was 67 billion Libyan dinars ($13.5 billion), the country’s central bank said in a report on Wednesday. ($1…

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OPEC+ cuts ahead of winter fan global inflation concerns

SINGAPORE, Oct 6 (Reuters) - Concerns over tight oil supplies and soaring inflation have intensified after the OPEC+ group of nations announced its largest supply cut since 2020 ahead of…

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Oil extends gains after OPEC+ agrees to slash crude output

SINGAPORE, Oct 6 (Reuters) - Oil prices rose for a fourth session on Thursday, with Brent at a three-week high, after OPEC+ agreed to further tighten global crude supply with…

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Oil prices inch lower ahead of OPEC+ talks on supply cut

SINGAPORE, Oct 5 (Reuters) - Oil prices moderated very slightly on Wednesday after gaining more than 3% in the previous session ahead of a meeting of OPEC+ producers to discuss…

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UPDATED: EU’s von der Leyen to press EU leaders on gas price cap

BRUSSELS, Oct 5 (Reuters) - European Commission President Ursula von der Leyen will impress upon EU leaders meeting this week the need for a gas price cap and to ensure…

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Oil jumps $4 as OPEC+ weighs biggest output cut since 2020

Oil prices jumped by about $4 on Monday as OPEC+ considers reducing output by more than 1 million barrels per day (bpd) to buttress prices with what would be its…

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OPEC+ to consider oil output cut of over 1 mln bpd – sources

DUBAI, Oct 2 (Reuters) - OPEC+ will consider an oil output cut of more than a million barrels per day (bpd) when it meets on Oct. 5, OPEC sources told…

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Europe braces for heavy oil refinery outages amid tight supplies

LONDON (Reuters) - A heavy oil refinery turnaround season in Europe this autumn, plus French strike action, is set to push diesel prices higher and tighten supplies ahead of a…

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Oil price dips as dollar strengthens, demand weakens

Sept 29 (Reuters) - Oil prices retreated slightly on Thursday after gaining more than $3 in the prior session, with a strong dollar capping oil demand from buyers using other…

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Oil prices slip as dollar scales new peak

SINGAPORE, Sept 28 (Reuters) - Oil prices fell more 1% on Wednesday, pressured by a strengthening dollar and crude storage builds that offset support from U.S. production cuts caused by…

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Oil prices fall on fuel demand fears sparked by recession concerns

Sept 26 (Reuters) - Oil prices fell for a second day on Monday on fears of lower fuel demand from an expected global recession sparked by rising worldwide interest rates…

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UPDATED: Oil prices down 3% with recession fears in focus

LONDON, Sept 23 (Reuters) - Oil prices fell on Friday as demand fears were stoked by rising interest rates and a stronger dollar, though losses were capped by Moscow's mobilisation…

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Oil rises as supply fears overtake recession worries

Sept 22 (Reuters) - Oil rebounded on Thursday after sliding 1% in the previous session as concerns over tight supplies heading into winter eclipsed fears of a global recession. Brent…

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UPDATED: Oil prices surge as Putin mobilises more troops

LONDON, Sept 21 (Reuters) - Oil jumped nearly 3% on Wednesday after Russian President Vladimir Putin announced a partial military mobilisation, escalating the war in Ukraine and raising concerns of…

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Oil prices climb on weak dollar, supply concerns

SINGAPORE, Sept 19 (Reuters) - Oil prices climbed on Monday as a weaker dollar and supply concerns ahead of the European Union embargo on Russian oil in December offset fears…

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Saudi overtakes Russia to be India’s No. 2 oil supplier in August

(Reuters) - Saudi Arabia emerged as the second-biggest oil supplier to India after a three-month gap, overtaking Russia by a thin margin, while Iraq retained the top spot in August,…

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Oil ticks up on correction, on track for weekly loss on recession fears

SINGAPORE, Sept 16 (Reuters) - Oil prices edged higher on Friday but were on track for a weekly decline amid fears of sharp interest rate hikes that would slam global…

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Oil edges higher as market weighs weak demand, potential supply disruption

Sept 15 (Reuters) - Oil prices edged higher on Thursday as the market balanced weak demand with supply disruption amid a looming rail stoppage in the United States, the world's…

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Oil prices edge lower on prospect of rising U.S. interest rates

SINGAPORE, Sept 14 (Reuters) - Oil prices inched lower on Wednesday on concerns of another U.S. Federal Reserve interest rate hike next week after consumer prices unexpectedly rose in August,…

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U.S. Treasury’s Yellen says oil prices could spike in winter

WASHINGTON, (Reuters) - U.S. Treasury Secretary Janet Yellen said Americans could experience a spike in gas prices in the winter when the European Union significantly cuts back on buying Russian…

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Oil prices slide as China COVID curbs, possible rate hikes weigh on demand outlook

SINGAPORE, Sept 12 (Reuters) - Oil prices slipped during Asian trade on Monday as the prospect of further interest rate hikes in the United States and Europe to quell inflation…

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Oil prices climb on tight supply worries

Sept 8 (Reuters) - Oil prices rose nearly $1 per barrel on Thursday after dropping through key technical support levels in the previous session, as an energy standoff between European…

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UPDATED: Oil slides to 7-mth low on renewed demand fears, rate hike expectations

SINGAPORE, Sept 7 (Reuters) - Oil prices fell more than $1 on Wednesday to their lowest since before Russia invaded Ukraine as COVID-19 curbs in top crude importer China and…

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UPDATED: Oil prices climb over $2/bbl ahead of OPEC+ meeting

KUALA LUMPUR, Sept 5 (Reuters) - Oil prices rose more than $2 a barrel on Monday, extending gains as investors eyed possible moves by OPEC+ producers to cut output and…

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Oil gains ahead of OPEC+ meet but fears of slower demand weigh on market

SINGAPORE, Sept 2 (Reuters) - Oil prices climbed on Friday on bets that OPEC+ will discuss output cuts at a meeting on Sept. 5, though benchmarks were on track for…

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Oil drops on fears over weaker demand, China’s COVID restrictions

TOKYO, Sept 1 (Reuters) - Oil prices dropped on Thursday, as investors were worried that aggressive interest rate hikes from global policymakers would slow economies and dent fuel demand, while…

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UPDATED: Oil prices fall 3% on recession fears

LONDON, Aug 31 (Reuters) - Oil prices continued to slide on Wednesday on investor worries about the ailing state of the global economy, the prospect of central bank interest rate…

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French bosses ready to curb energy consumption to avoid rationing

PARIS (Reuters) - French bosses are prepared to make efforts to meet a government demand to cut energy consumption by around 10% to avoid rationing amid soaring prices and fears…

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Oil rises on prospect of OPEC supply cut, demand growth

Aug 29 (Reuters) - Oil prices rose 1% on Monday, as expectations that OPEC would cut output if needed to support prices, coupled with conflict in Libya and rising demand amid soaring…

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Oil prices edge up on signs of improving demand

KUALA LUMPUR, Aug 26 (Reuters) - Oil prices rose as much as $1 on Friday on signs of improving fuel demand, although further gains were capped as the market awaited…

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Oil prices rise on potential OPEC+ supply cuts; BP shuts U.S. refinery units

SINGAPORE, Aug 25 (Reuters) - Oil prices rose on Thursday on mounting supply tightness concerns amid disruptions to Russian exports, the potential for major producers to cut output, and the…

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Oil slips as fears of imminent OPEC+ output cut fade

Aug 24 (Reuters) - Oil prices fell on Wednesday, taking a breather from a near 4% surge the previous day, on receding fears of an imminent output cut by the…

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Oil falls on concerns economic slowdown may dent fuel demand

TOKYO, Aug 22 (Reuters) - Oil prices slumped on Monday, ending three days of gains, as investors were concerned aggressive U.S. interest rate hikes will weaken the global economy and…

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OPEC chief says blame policymakers, lawmakers for oil price rises

LONDON, (Reuters) - Policymakers, lawmakers and insufficient oil and gas sector investments are to blame for high energy prices, not OPEC, the producer group's new Secretary General Haitham Al Ghais…

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Oil dips as slowdown worries limit price gains

SINGAPORE, Aug 19 (Reuters) - Oil prices dipped on Friday after two days of gain, as market participants weighed worries about global economic slowdown - that could dampen fuel demand…

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Oil prices edge up from 6-month lows after drop in U.S. stockpiles

KUALA LUMPUR, Aug 17 (Reuters) - Oil prices rose on Wednesday, recovering from six-month lows hit the previous day, as a larger-than-expected drop in U.S. oil and gasoline stocks reminded…

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Oil prices fall nearly $1/bbl as China data disappoints

SINGAPORE, Aug 15 (Reuters) - Oil prices dropped for a second session on Monday as weak China economic data triggered concerns about demand at the world's largest crude importer while…

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Kazakhstan to start oil sales via Azeri pipeline to bypass Russia

MOSCOW/LONDON, Aug 12 (Reuters) - Kazakhstan is expected to sell some of its crude oil through Azerbaijan's biggest oil pipeline from September, as the nation seeks alternatives to a route…

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Oil prices slip on cloudy demand outlook, but poised for weekly gain

SINGAPORE, Aug 12 (Reuters) - Oil prices dropped in Asia trade on Friday amid an uncertain demand outlook, though benchmark contracts were headed for weekly gains as recession fears eased.…

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Oil edges lower as supply disruption concerns ease

SINGAPORE, Aug 11 (Reuters) - Oil prices slipped in Asia on Thursday after gaining more than $1 in the previous session, as concerns over supply disruptions eased and markets looked…

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Oil slips as U.S. crude stockpiles rise

KUALA LUMPUR, Aug 10 (Reuters) - Oil prices eased on Wednesday after industry data showed U.S. crude inventories unexpectedly rose last week, signaling a potential hiccup in demand, though concerns over supply kept losses in…

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Oil prices steady as market juggles supply shortage, demand worries

SINGAPORE, Aug 5 (Reuters) - Oil prices steadied in Asia trade on Friday, after hitting their lowest levels since before Russia's February invasion of Ukraine in the previous session, as the market…

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Oil prices rebound on supply concerns after drop to near 6-month low

Aug 4 (Reuters) - Oil prices rose on Thursday as supply concerns triggered a rebound from multi-month lows plumbed in the previous session after U.S. data signalled weak fuel demand. Brent crude LCOc1 futures…

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UPDATED: OPEC+ agrees to raise September output target by 100,000 bpd – source

LONDON, Aug 3 (Reuters) - OPEC+ has agreed to raise its September oil output targets by 100,000 barrels per day, an OPEC+ source said. OPEC+ was meeting on Wednesday amid market expectations…

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Oil eases over demand worries ahead of OPEC+ meeting

MELBOURNE, Aug 3 (Reuters) - Oil prices fell about 1% in early trade on Wednesday before paring some losses, ahead of a meeting OPEC+ producers on fears of a slowdown in global…

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Oil prices drop as data points towards global manufacturing downturn

Oil prices edged lower on Tuesday as investors absorbed a bleak outlook for fuel demand with data pointing to a global manufacturing downturn just as major crude producers meet this week…

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Oil steady as market weighs tight supply against recession fears

SINGAPORE, July 29 (Reuters) - Oil prices were steady to higher in Asia trade on Friday, lifted by supply concerns as attention turns to the next meeting between OPEC and its allies, though…

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