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Analysts see few surprises in 2020 as OPEC+ cuts trim surplus

Analysts see few surprises in 2020 as OPEC+ cuts trim surplus

Oil prices are likely to remain in check during 2020 as OPEC+ production cuts are offset by higher output from other countries. Oil prices were little changed on last Monday as Russia said an OPEC-led producer group may consider easing output cuts next year. The Trump administration on last Thursday renewed a waiver for companies...

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OPEC+ clamping down on members exceeding production quotas

OPEC+ clamping down on members exceeding production quotas

OPEC+ is poised for a debate about lax implementation of oil-production cuts in Vienna this week. Oil jumped above $61 a barrel on last Monday, supported by hints that OPEC. The dollar and global stock markets fell on last Monday after U.S. President Donald Trump’s speech. Russia asking to discuss a rule change that would...

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Oil supply to swamp demand, squeeze OPEC in 2020, IEA says

Oil supply to swamp demand, squeeze OPEC in 2020, IEA says

Global oil supplies will increase far more than demand next year. Crude is still up from about $40 a barrel a year ago and a 12-year low near $27. Opec agreed in November to cut output by about 1.2 million barrels a day. Even if its actions force an increase in prices, America’s frackers will...

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Oil climbs to 3-week high as trade talks fuel demand optimism

Oil climbs to 3-week high as trade talks fuel demand optimism

Oil futures rose on Monday, buoyed by optimism tied to trade talks between the U.S. and China as well as output reductions by major oil producers. Brent crude futures were up $1.02, or 1.78 percent, to $58.35 per barrel at 1450 GMT. Talks with China are “going very well,” U.S. President Donald Trump said in a...

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Crude gains most in two months on G20 Summit optimism

Crude gains most in two months on G20 Summit optimism

ExportGeneral Corp is a leader in the of Nigerian Bonny Light Crude Oil (BLCO) sales market. As a privately held company, Export General Corp is committed to and is focused on delivering reliable services to all her clients. ExportGeneral Corporation is determined to continue to grow in the energy sector and to become one of the...

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Trump says “fragile” oil market behind decision on Iran waivers

Trump says “fragile” oil market behind decision on Iran waivers

President Donald Trump on Wednesday claimed credit for falling oil prices, glossing over market forces that knocked crude futures from four-year highs last month. Trump also appeared to hint that his administration may not tighten sanctions on Iran’s oil exports if crude prices start rallying again, saying the measures will “maybe” get tougher. The president did not...