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oil-prices

U.S. crude breaks below $40/bbl as oil slumps 4 percent on glut worry

August 1, 2016 by · Leave a Comment 

NEW YORK (Reuters) – U.S. crude tumbled below $40 per barrel for the first time since April as oil prices fell nearly 4 percent on Monday on heightened worries of an oil glut after a survey suggested OPEC output reached record highs last month.

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U.S. crude breaks below $40/bbl as oil slumps 4 percent on glut worry

oil-prices

Recalled cars create a costly problem for U.S. auto dealers

February 7, 2016 by · Leave a Comment 

With the recalls affecting Honda vehicles dating back several years, used-car dealers are facing increased pressure. It is legal under federal law to sell used cars with unrepaired safety defects that are subject to recall, but dealers that operate under franchises with manufacturers could be violating those agreements. It is illegal to sell new cars that are subject to a recall under federal law.

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Recalled cars create a costly problem for U.S. auto dealers

oil-prices

As Big Oil shrinks, boards plot different paths out of crisis

February 7, 2016 by · Leave a Comment 

By Ron Bousso and Terry Wade LONDON/HOUSTON (Reuters) – As oil and gas companies cut ever-deeper into the bone to weather their worst downturn in decades, boards have adopted contrasting strategies to lead them out of the crisis. Crude prices have tumbled around 70 percent over the past 18 months to around $35 a barrel, leading to five of the world's top …

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As Big Oil shrinks, boards plot different paths out of crisis

oil-prices

Saudi, Venezuela talk of OPEC, non-OPEC cooperation to stabilize oil market: SPA

February 7, 2016 by · Leave a Comment 

Saudi Arabia's oil minister Ali al-Naimi discussed cooperation between OPEC members and other oil producers to stabilize the global oil market with his Venezuelan counterpart on Sunday, state news agency SPA reported. Venezuela's Oil Minister Eulogio Del Pino, who is on a tour of oil producers to lobby

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Saudi, Venezuela talk of OPEC, non-OPEC cooperation to stabilize oil market: SPA

oil-prices

Prolonged oil slump sparks second wave of cuts to 2016 budgets

February 7, 2016 by · Leave a Comment 

Less than two months into the year, the top U.S. shale oil companies have already cut their budget for 2016 a second time as the relentless drop in oil prices continues to erode their cash flow. With oil prices firmly

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Prolonged oil slump sparks second wave of cuts to 2016 budgets

oil-prices

Oil lifts stocks off lows, yen and low-risk debt in favor

February 3, 2016 by · Leave a Comment 

LONDON (Reuters) – Glimmers of recovery in oil prices on Wednesday lifted European stock markets off their lows and dimmed the allure of the Japanese yen, gold and ultra-low-risk government debt.

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Oil lifts stocks off lows, yen and low-risk debt in favor

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Oil prices edge away from two-month low, but market outlook stays weak

November 12, 2015 by · Leave a Comment 

By Henning Gloystein SINGAPORE (Reuters) – Crude oil prices edged away from over two-month lows in early Thursday trading, after a sharp slide on concerns the market would take much longer than many anticipated to rebalance as supplies far outstrip demand. Internationally traded Brent crude futures were at $46.18 a barrel, up 37 cents following a 3.4-percent fall the previous day. “Rising U.S. inventories continue to remain a major theme driving crude oil prices … Iraq is also increasing pressure on U.S. shale producers.

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Oil prices edge away from two-month low, but market outlook stays weak