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Latest News & Updates

World Oil

Russia is aiming to accelerate the pace of oil production cuts after its reductions drew criticism from Saudi Arabia.
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Oil closed higher for the second straight day as Russia and Saudi Arabia signaled they’re on track with production cuts designed to avoid a global supply glut.
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The year has barely begun but it’s already shaping up nicely for OPEC, with crude rebounding sharply after the worst fourth-quarter performance since 2014.
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The U.S. plans to grant no new waivers to buyers of Iranian oil as it intensifies efforts to eliminate the Middle Eastern producer’s exports of crude, a senior official said.
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OPEC and its allies plan to hold a meeting in March to assess their oil-production accord in Azerbaijan, and then ministers will gather to set policy in April, according to the organization’s top official.
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Following recent announcements of Eni S.p.A.’s acquisition of new exploration acreage in Bahrain, the UAE and Oman, Will Scargill, senior oil and gas analyst at GlobalData offers his view on their place within the company’s wider strategy.
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BP and Eni have signed a heads of agreement (HoA) with the Ministry of Oil and Gas of the Sultanate of Oman to work jointly towards a significant new exploration opportunity in Oman.
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Output cuts in oil-rich Alberta and Saudi Arabia are combining to leave heavy-crude refiners from the Gulf of Mexico to Asia in a bind.
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Eni SpA and Thailand’s PTT Exploration and Production Pcl secured rights to explore for oil and natural gas in Abu Dhabi, committing to invest at least $230 million to assess the offshore blocks.
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Italy’s top oil producer and Oman’s energy minister predict the latest oil rebound will stick.
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