NEW YORK, Nov 29– U.S. crude oil production in September rose to a new record of 12.46 million barrels per day (bpd) from 12.397 million bpd in August, the U.S. government said in a monthly report on Friday. The United States has become the world’s largest oil producer as technological advances have increased production from …
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LONDON (Bloomberg) – For the last year, Saudi Arabia has largely turned a blind eye to cheaters within the OPEC+ alliance, cutting its own output more than agreed to offset over-production from the likes of Iraq and even Russia. Now, Riyadh’s had enough. Prince Abdulaziz bin Salman, who took over from Khalid Al-Falih in September, …
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Russian oil companies prefer to keep their production restriction quotas until March, when the current OPEC+ cuts expire, and discuss an extension then, signaling that Russian producers don’t want deeper cuts or any major changes to the pact at next week’s meeting. “We all proposed that we stay in the deal with the same …
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Iran considers the European Instrument in Support of Trade Exchanges (INSTEX), a tool set up to help trade with Tehran under the US sanctions, to be weak, Iranian Deputy Foreign Minister Seyed Abbas Araghchi stated earlier in November, adding that the system has not been fully implemented so far. Finland, Belgium, Denmark, Netherlands, Norway, Sweden …
© Twitter / realDonaldTrump An image of US President Donald Trump’s head neatly photoshopped onto the body of iconic film boxer Rocky Balboa, tweeted wordlessly from the president’s account, has set social media afire with questions. What does it mean? The photo was clearly a professional job, with Trump’s skin tone blended into the …
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(Reuters) – Morgan Stanley has fired or placed on leave at least four traders over alleged mismarking of securities that concealed losses of between $100 million and $140 million, Bloomberg reported on Thursday citing people familiar with the matter. The company is investigating the suspected mismarking that was linked to emerging-market currencies and the traders …
Thomas Bowers, who worked above Trump’s personal banker, was 55 A former Deutsche Bank executive who reportedly signed off on some of the institution’s unorthodox loans to Donald Trump killed himself in his Malibu home on November 19. Thomas Bowers, the onetime head of Deutsche Bank’s American wealth-management division, where he oversaw Trump’s private banker, …
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The Iranian government is shortening its nuclear breakout time — the amount of time required to produce enough weapons-grade uranium for a single nuclear weapon. Tehran has accomplished this through several steps in the last few months. Iran’s government first increased its enriched uranium stockpile beyond the 300 kilogram limit; it enriched uranium to levels beyond the cap …
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Nov 27 (Reuters) – U.S. energy firms reduced the number of oil rigs operating for a record 12th month in a row after this week cutting rigs for a sixth consecutive week as producers slash spending on new drilling. Drillers cut three oil rigs in the week to Nov. 27, bringing the total count down …
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The state oil giant plans to sell a 1.5% stake, or about 3 billion shares, and has said at least one-third of the sale is expected to be covered by retail investors, who have until Thursday to sign up. With an indicative price of 30-32 riyals, the IPO is valued at as much as 96 …
Continue reading “Saudi Aramco IPO’s retail tranche oversubscribed -lead manager –”