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Cannot rule out further output caps on oil producers, says OPEC secretary general
By CNBC : The output cut deal between OPEC and non-OPEC oil producers that was last week extended for a further nine months is a "work-in-progress" and could be broadened to include the implementation of caps on further countries, according to the oil cartel's secretary general.
Traders bid up oil ahead of anticipated OPEC production cut extension
25 May 2017 10:08 AM |By CNBC : Traders pushed oil prices higher on Thursday morning ahead of a widely anticipated extension of the OPEC-led production cut agreement.
Trump's proposed US oil reserve sale not an issue for OPEC: Goldman Sachs
24 May 2017 09:31 AM |By Reuters : President Donald Trump's proposal to sell half of the U.S. Strategic Petroleum Reserves (SPR) will likely have little impact on OPEC's efforts to reduce a global oil glut, Goldman Sachs said on Tuesday.
Iraq could make OPEC-led oil output cut extension difficult, RBC’s Croft says
22 May 2017 01:19 PM |BY CNBC : Iraq is the big holdout country that could thwart Saudi Arabia's and Iran's wish to extend the OPEC-led oil production cut by a further nine months, according to RBC's Helima Croft.
"Getting Iraq on board is going to be interesting….I think Iraq in the end will get on board but they might make it difficult along the way," said Croft, noting that the country's oil minister, Jabbar al-Luaibi, had fought hard - and ultimately to no avail - to stop Iraq from having to take the second largest hit to its production figures in the deal brokered between OPEC and non-OPEC producers last November.
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