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OPEC Deal Sends Oil to a 6-Week High

Oil swept to a six-week high on Thursday, lifting energy shares in its slipstream, after OPEC agreed to cut crude output to clear a glut, while bond yields rose on prospects that resulting inflationary pressures will lead to higher interest rates. 636 more words

Finance

What the OPEC Production Cut Will Really Mean for Oil Prices

Crude oil prices–and the shares of U.S. oil and gas companies–surged over 8% Wednesday as the Organization of Petroleum Exporting Countries (OPEC) agreed to cut its output by some 1.2 million barrels a day to end a global glut. 555 more words

Finance

Oil Prices Surge on Reports of a Big Output Cut by OPEC

Oil prices jumped more than 8% on Wednesday to a five-week high as newswires reported that the Organization of the Petroleum Exporting Countries had agreed its first oil output cuts since 2008. 457 more words

Finance

Iran and Iraq Push Back on Saudi Oil Production Pressure

Iran and Iraq are resisting pressure from Saudi Arabia to curtail oil production, making it hard for the Organization of the Petroleum Exporting Countries to reach a global output-limiting deal when it meets on Wednesday. 518 more words

Pubdesk

Trump Can Make the U.S. Energy-Independent—If He Goes Green

The U.S. can realize President-elect Donald Trump’s dream of independence from foreign oil “foes” and “cartels”–but he likely won’t live to see it unless he embraces the kinds of policies he’s campaigned against, according to a new study out Wednesday. 701 more words

International

China's Trade Numbers Come in Weaker Than Expected

China‘s exports and imports fell more than expected in October, with weak domestic and global demand adding to doubts that a pick-up in economic activity in the world’s largest trading nation can be sustained. 649 more words

Pubdesk

How Oil Majors Adapted to Lower Prices and Beat Earnings Expectations

Royal Dutch/Shell and BP on Tuesday joined peers in reporting higher than expected earnings by making further deep cuts in spending to cope with an oil price downturn now in its third year. 680 more words

Pubdesk