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2017-07-07 08:10:00

MARKET WILL BE BETTER

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REUTERS - Russian Energy Minister Alexander Novak said a global pact by OPEC, Russia and other producers to cut oil output had dampened price volatility and was reducing bloated inventories, so no immediate extra measures were needed to prop up prices.

The minister also told Reuters there was potential for an oil price rise from current levels and that $50 to $60 was "fair" value for a barrel, after benchmark Brent fell 20 percent in the first half of the year. It now trades at around $48.

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Tags: РОССИЯ, НЕФТЬ, ЦЕНА, ОПЕК,

Chronicle:

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2019, March, 22, 10:20:00

U.S. OIL INVENTORIES DOWN 9.6 MB

US crude oil inventories for the week ended Mar. 15, excluding the Strategic Petroleum Reserve, decreased 9.6 million bbl from the previous week, data from the US Energy Information Administration showed.

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2019, March, 22, 10:15:00

SAUDI'S OIL WILL DOWN

Saudi Arabia will supply its clients with significantly less oil than they requested in April, extending deeper-than-agreed oil production cuts into a second month, a Saudi official familiar with the policy said.

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2019, March, 22, 10:10:00

BRITAIN NEED INVESTMENT $265 BLN

Oil & Gas UK estimates exploration and production companies would have to spend about $265 billion between 2019-35 to realize industry’s expectations outlined in Vision 2035 on the UK Continental Shelf (UKCS).

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2019, March, 22, 10:05:00

U.S. FEDERAL FUNDS RATE 2.25-2.5%

U.S. FRB - Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent.

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