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OPEC Oil

U.S. Crude Rises On Consumer Confidence

U.S. crude oil rose to near a six-week high on Friday, steered by stronger gasoline demand and a positive consumer confidence report, but gains were capped by profit taking and a declining demand outlook.The International Energy Agency lowered its global demand forecast for 2014 due to expectations that more Libyan crude will reach the market next week, pushing Brent prices lower.U.S. crude moved in tandem with U.S. gasoline prices, which surged early in the session due to government data released mid-week that showed a substantial draw on stockpiles, signaling robust demand before the start of summer driving season.Data showing U.S. consumer sentiment rose to a nine-month high in April also provided support, and pushed the American benchmark's price discount to Brent to its narrowest since mid-September.Brent's price slipped after Russia backed off threats it made Thursday to disrupt Ukraine's natural gas supply, and therefore Europe's, unless Kiev paid its bill. Russian President Vla...

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  1. OPEC Oil Output Rises In February, Led By Iraq

    OPEC's oil output has risen further in February from December's 2-1/2-year low, due to more shipments from Iraq and Angola, and further upward creep in Iranian expor...

  2. OPEC : World Oil Demand to Rise More than Expected

    World oil demand will rise slightly more than expected in 2014, OPEC said on Wednesday, becoming the second major forecaster this week to predict higher fuel use as ...

  3. Platts Reports Higher OPEC Oil Output In January

    Oil production from the Organization of the Petroleum Exporting Countries edged higher in January by 150,000 barrels per day to 29.87 million barrels per day, accord...

  4. Platts: OPEC Oil Output 'not Too Hot, Not To Cold'

    Oil production from the Organization of the Petroleum Exporting Countries edged higher in December by 20,000 barrels per day to 29.72 million barrels per day, accord...

  5. OPEC Oil Output Lowest Since 2011 On Libya Turmoil

    Oil production from the Organization of the Petroleum Exporting Countries in November fell to its lowest volume since mid-2011, according to a Platts survey of OPEC ...

  6. OPEC Changes Course, Projects Shale Spike

    In its annual report, OPEC acknowledged the rapid increase in U.S. shale oil production could soften demand for the cartel's oil, but its head later suggested the sh...

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  9. US Oil Climbs to 2-Year High On Syria Worries

    U.S. crude oil futures settled on Friday at their highest level in more than two years as investors rushed to buy amid concerns a possible military strike against Sy...

  10. Oil Prices Rally as Syria Tensions Heat Up

    Brent crude rose above $111 a barrel on Tuesday to trade near its highest in five months as rising tensions over a suspected chemical weapons attack in Syria raised ...

  11. Oil Climbs on East Coast Refinery Work

    A rise in gasoline futures helped pull oil prices higher on Friday following news of a unit shutdown at a Canadian East Coast refinery.While the trading volume for t...

  12. U.S. Crude Prices Tick Up

    Brent edged above $110 a barrel on Friday, buoyed by upbeat business surveys that suggested the global economy is on the mend and kindled hopes for higher fuel deman...

  1. U.S. Crude Oil Up On Spike In Gas Demand

    U.S. crude rose more than $1 on Wednesday, driven by a technical rally and unexpectedly high gasoline demand, while tensions between Russia and the West underpinned ...

  2. U.S. Crude Dips

    U.S. oil futures dipped below $100 on Monday, falling more than a dollar a barrel after stock markets tumbled, with Brent crude prices losing even more on the prospe...

  3. Oil Slips as Libya Deal Eases Supply Worries

    Brent crude oil fell below $106 a barrel on Monday, snapping a two-day rise, after Libyan rebels occupying four eastern oil ports agreed to end an eight-month blocka...

  4. Brent Oil Falls $2 as Crimea Threat Eases

    Brent oil futures fell more than $2 per barrel on Monday to near six-week lows, as ample global supplies outweighed concerns over continued tensions between Russia a...

  5. Loews CEO: U.S. on the way to energy independence

    Loews Corporation CEO James Tisch on the U.S. energy sector and stock market.

  6. OPEC Ups 2014 Global Oil Demand View

    World oil demand will increase more than expected in 2014, OPEC said on Wednesday, raising its prediction for a second straight month as economic growth picks up in ...

  7. February OPEC Oil Output Highest Since August 2013

    Oil production from the Organization of the Petroleum Exporting Countries climbed in February to the highest monthly total since August 2013, according to a Platts s...

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