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Rejoice Oil Bulls, Goldman Sachs Also Believes OPEC

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Oil Capped Until OPEC Brings Evidence Of Output Cuts

Oil Capped Until OPEC Brings Evidence Of Output Cuts*/

– Get the same energy intel that international governments, major oil companies, hedge funds and investment bankers do from our 400 global on-the-ground assets…In it you’ll receive profitable Stocks & Intel that no one else has… Long before it becomes widely known.
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Rejoice Oil Bulls, Goldman Sachs Also Believes OPEC

Rejoice Oil Bulls, Goldman Sachs Also Believes OPEC*/


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Oil edges up; strong dollar, OPEC doubts make buyers cautious

Oil edges up; strong dollar, OPEC doubts make buyers cautious*/

– NEW YORK Oil rose slightly on Friday on futures buying, ending the week higher, but gains were limited by a strong U.S. dollar and lingering doubts about whether OPEC producers would stick to a deal to cut output.Market players attributed choppy trading to position-squaring at the end of the week and low volumes at the start of the year.Brent crude futures LCOc1 settled 21 cents higher at $57.10 per barrel, after trading in a range of $56.28 to $57.47.
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Kuwait Slashes Oil Production To 2.707M BPD On OPEC Accord

Kuwait Slashes Oil Production To 2.707M BPD On OPEC Accord*/

– Kuwaiti officials say the OPEC-member country has reduced oil production this month to around 2.707 million barrels per day, in line with the targeted amount under the OPEC output cut agreement reached on 30 November.So far, Saudi Arabia, Kuwait, Iraq and Venezuela are honoring the commitment to cut output, while Iran uses the time to shore up lost market share, and Libya and Nigeria struggle to ramp up production to avoid destabilization.Kuwait agreed in November to cut output by 131,000 barrels per day, starting on 1 January.
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Oil edges up, but strong dollar, OPEC cut doubts weigh

Oil edges up, but strong dollar, OPEC cut doubts weigh*/

– AdvertisementNEW YORK, Jan 6 (Reuters) – Oil rose slightly on Friday on increased buying ahead of the weekend, but a strong U.S. dollar and lingering doubts that not all OPEC producers would cut output in line with an agreement, pressured prices.End of week position-squaring combined with relatively low volumes during the first trading week of the year led to the market being choppy, traders said.Brent crude futures were trading 19 cents higher at $57.08 per barrel at 11:34 a.m. EST (1634 GMT), after moving in a $56.28-to-$57.47 range.U.S.West Texas Intermediate (WTI) crude futures rose 24 cents at $54.00 a barrel, after trading between $53.32 and $54.32.The contracts were on track for a slight gain on the week.”There’s a lot of volatility, or at least changes in direction,” ABN Amro senior energy economist Hans van Cleef said.
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