oil prices

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U.S. Secretary of Energy praises new OPEC+ agreement

U.S. Secretary of Energy Dan Brouillette said that the energy sector of the United States will soon recover from the recent ‘price wars’ on global oil markets and consequences of the COVID-19 pandemic and will emerge …

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Brent and WTI prices up 4-6%

The price of futures contracts of Brent crude oil for June 2020 delivery climbed by 4.4% on London's ICE on Monday to $32.85 per barrel, according to the trading data as of 3:44 a.m. Moscow time. WTI futures are up by 6.8% to …

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OPEC+ adopts declaration on cooperation

OPEC+ had adopted a new declaration on cooperation during the online video conference to discuss the terms of a new oil output cut deal, Azerbaijan's Ministry of Energy said. The ministry said in a statement that OPEC+ had …

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OPEC+ meeting nears with resolve for deep oil cuts

OPEC and its allies are moving closer toward a historic deal to take at least 10% of global crude supply off the market as they get set for the first of two critical meetings later Thursday, with key producers Saudi Arabia and Russia signalling …

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Oil pandemic

Oil prices rose this morning on expectations the world's largest oil producers would agree to cut production at a meeting later in the day as the industry grapples with a coronavirus-driven collapse in global oil demand. Brent …

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Trump: U.S. already cut back oil production

U.S. President Donald Trump said that U.S. oil producers have already cut production and he had many options if Saudi Arabia and Russia do not reduce their output when they and other exporters meet on Thursday. "Look, we already …

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Trump tells whether U.S. would join output-cut deal

U.S. President Donald Trump gave the strongest signal yet the U.S. might not join Saudi Arabia, Russia and other major producers in coordinated oil-production cuts, even as plunging crude prices put thousands of American shale …

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Oil rises 3% on hopes for output cut

Oil prices gained on Tuesday as hopes rose that the world’s biggest producers of crude will agree to cut output as the coronavirus pandemic crushes demand, even as analysts warn a global recession may be deeper than expected. …

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Trump: U.S. could impose tariffs on oil imports

U.S. President Donald Trump said he could slap “very substantial tariffs” on oil imports if prices stay low, but does not expect he will need to, since neither Russia nor Saudi Arabia, which are locked in an oil price …

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OPEC+ meeting to be held on April 6

The meeting of the OPEC+ group of oil producers is planned for April 6, Azerbaijan’s energy ministry said. "Azerbaijan has been invited to take part in the meeting that will be dedicated to finding the ways of …

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OPEC+ talks to be held next week?

OPEC started preparations for negotiations within the OPEC+ framework, initiated by Saudi Arabia. The meeting may take place next week, a source taking part in the preparations said. "The meeting may take place next week. We …

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China starts buying oil for state reserves - media

China is moving forward with plans to buy up oil for its emergency reserves after an epic price crash, Bloomberg reported citing people with knowledge of the matter. "The world’s biggest importer is taking advantage of a 60% …

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Brent and WTI oil rise more than 12% 

Oil surged more than 12% as China planned to start buying up cheap crude for its strategic reserves, adding to tentative signs of growing risk appetite across financial markets that’s propelling prices higher. Brent crude for June …

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