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US Drillers Cut Oil Rig, Add Gas Rig amid Deep Freeze

2021-02-19 19:23:59| OGI

U.S. oil rigs fell by one to 305 this week, while gas rigs rose one to 91, their highest since April 2020.

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Saudi Arabia Set to Raise Oil Output, Reversing Recent Production Cut: Reports

2021-02-17 23:25:00| OGI

Saudi Arabia is expected to announce its plans when a coalition of oil producers meets next month, according to a WSJ report on Feb. 17, adding that the output rise wont kick in until April. 

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Saudi Cut to Boost Oil Market De-Stocking as Demand Falters

2021-01-11 16:09:52| OGI

Barclays notes that the COVID-19 situation puts the oil market in uncharted territory.

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OPEC+ Oil Output Cut Compliance at 101%, Sources Say

2020-12-30 18:05:00| OGI

The OPEC+ group of oil producers fully complied with supply cuts in November, two sources from the alliance told Reuters ahead of the group's Jan. 4 meeting to discuss whether to boost production further.

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OPEC+ Leaning towards Oil Cut Extension, Despite Rally

2020-11-25 16:00:57| OGI

OPEC and allies including Russia are leaning towards delaying next years planned increase in oil output to support the market during the second wave of COVID-19 and rising Libyan output, despite a rise in prices, three sources close to OPEC+ said.

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