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You Searched For "oil surplus" and got 17 results


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China's weak economy and record US production will lead to a surplus of one million barrels of oil a day next year, IEA says

Oil markets are facing a supply glut, with non-OPEC producers on track expand production by 1.5 mil…

Jennifer Sor   


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The US is pumping more oil than ever, and it's complicating things for other crude-exporting countries

US crude production notched a new monthly record in August. That's not necessarily welcome news to …

Filip De Mott   


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How plunging oil prices could help the US avoid recession

Cheaper energy reduces cost burdens in manufacturing, construction, and agriculture, among other ec…

Filip De Mott   


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Investors shorting oil are walking into a 'bear trap' with energy demand set to surge, Bank of America says

Investors have turned bearish on oil amid fears of oversupply, but if GDP grows in line with estima…

Kelly Cloonan   


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Oil markets could shift into surplus in early 2024 as demand growth slows and non-OPEC+ producers lead supply growth, IEA says

Oil supply is booming, especially from non-OPEC+ countries, and it will encounter slowing demand ne…

Aruni Soni   


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Politically created crude oil surplus is already ending says Goldman Sachs

Fundamentals for crude oil weakened in April-May with modest declines in the Russian exports, recor…

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Soaring energy prices help Russia push its current account surplus to a record $70.1 billion in the second quarter despite sanctions

Central bank data showed that Russia notched a record current account surplus of $70.1 billion in t…

Phil Rosen   


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Russian oil and gas revenues help current-account surplus more than triple to $167 billion

From January to July, the surplus ballooned to $167 billion, compared to $50 billion for the same p…

Brian Evans   


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Russia's economy dealt a crushing blow as its current-account surplus collapses by 93%

Russia's current-account surplus tanked 93% to $5.4 billion last quarter from the year-earlier peri…

Zahra Tayeb   


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Red Sea turmoil is the only thing keeping oil prices as high as they are

The Red Sea chaos is actually creating a floor beneath prices, which would otherwise be dragged dow…

Aruni Soni   


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Russia's economy takes a hit as its current-account surplus crashes 85% compared to last year

As war in Ukraine drags on, more signals are flashing that all is not well in Russia's economy desp…

Phil Rosen   


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Saudi Arabia is on track for its first budget surplus in nearly a decade as the Kingdom rakes in oil revenues amid a global energy crunch

Despite more spending, Saudi Arabia's budget surplus hit $21 billion in the second quarter thanks t…

Phil Rosen   


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Russia's economy is in shambles and its oil exports are collapsing but its crude oil just smashed a crucial price cap

Russia's flagship Urals crude oil prices breached the price cap of $60 a barrel on Tuesday, per S&P…

Huileng Tan   


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Soaring oil and gas prices help Russia more than triple its current account surplus to $96 billion, its largest in 28 years

Russia's central bank data showed that the warring nation has tripled its current account balance i…

Phil Rosen   


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Oil prices are at their lowest level since August. Here's everything moving crude markets.

Factors include the Israel-Hamas conflict, production cuts from Russia and Saudi Arabia, uncertaint…

Phil Rosen   


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Oil prices at $100 a barrel look too high for global demand to sustain

Gasoline deliveries have plunged to two-decade lows after OPEC pushed crude prices too high, the In…

Filip De Mott   


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OPEC says 'exaggerated concerns' about demand are hitting oil prices but still sees a slowdown in 2024

"The market dynamic was fuelled by exaggerated concerns about oil demand growth, which negatively i…

Filip De Mott