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OPEC output News

24 May 2017

Oil prices rise as market expects extended production cut

Oil prices rose on Wednesday, supported by confidence that an OPEC-led output cut aimed at tightening supply would be extended to all of 2017 and the first quarter of next year.

International Energy Agency

11 Oct 2016

Oil glut to last until mid-2017 unless OPEC cuts output: IEA

A massive oil glut may weigh on world markets deep into next year unless the OPEC producer cartel makes good on its promise to cut output, the International Energy Agency (IEA) said today.

05 Jun 2015

Oil prices rise ahead of OPEC output meeting

"We expect payroll numbers to go up, and this will in turn firm up the dollar and subsequently make dollar-priced crude more expensive," said Teo.

17 Apr 2015

Oil prices retreat on profit-taking

US benchmark West Texas Intermediate (WTI) for May delivery dipped 43 cents to $56.28 and Brent crude for June eased 48 cents to $63.50 in late-morning trade.

20 Mar 2015

Brent oil falls below $54 on OPEC output, Iran

Brent crude oil fell below USD 54 a barrel on Friday and was on track for its third straight weekly loss, hurt by worries of rising supplies from OPEC and the United States.

08 Dec 2014

Oil drops $2 to five-year low on oversupply

Brent crude oil fell more than $2 a barrel on Monday to a new five-year low on predictions that oversupply would keep building until next year after OPEC decided not to cut output.

21 Nov 2014

Brent touches $80 on possible OPEC output cuts, strong US data

Brent briefly rose to $80 a barrel on Friday on speculation OPEC could agree to output cuts at its meeting next week, with strong U.S. economic data also bolstering oil prices.

21 Nov 2014

Oil prices rise on fresh hopes of OPEC output trim

US benchmark West Texas Intermediate for January delivery climbed 48 cents to USD 76.33 on the contract's first day of trading.

10 Jun 2014

OPEC ministers signal output to remain on hold

All is not well within OPEC as the oil cartel focuses on how much crude to pump for the rest of the year.

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