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Media ID: 55381376
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The Kingdom of Libya flag flies in front of a refinery in Ras Lanuf in this March 8, 2011, Reuters


Media ID: 55366650
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A gas station worker fuels a vehicle in Tokyo August 26, 2015. REUTERS/Toru Hanai


Oil Rates Rise on OPEC Production Cuts

Oil Rates Rise on OPEC Production Cuts

Oil rates witnessed an increase of some 2 percent on Tuesday after news OPEC oil production has fallen sharply this month and the dollar sank. “This is very high, a good number,” an OPEC source said of the January compliance estimate. The dollar was down...
Media ID: 55366277
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Screen at a trading post on the floor of the New York Stock Exchange is juxtaposed with the Goldman Sachs booth. AP


Media ID: 55363935
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Federal Reserve Board Chair Janet Yellen answers a reporter’s question during a news conference about the Federal Reserve’s monetary policy, Dec. 14, 2016, in Washington. / AP


U.S. Federal Reserve Raises Interest Rates

U.S. Federal Reserve Raises Interest Rates

London – U.S. Federal Reserve decided to raise interest rates for the first time in 2016 since the election of Donald Trump, and the second time in a decade. The bank voted unanimously to raise the U.S. central bank’s target range for the federal funds rate to 0.50 to...
Media ID: 55359724
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A Whiting Petroleum Co. pump jack pulls crude oil from the Bakken region of the Northern Plains near Bainville, Mont. on Nov. 6, 2013. AP


Brent Exceeds $52 and OPEC Aims for Shale

Brent Exceeds $52 and OPEC Aims for Shale

Cairo–Following OPEC’s historic agreement at the Algiers meeting to cut down production, oil demand was on the rise, reaching $52 per barrel. U.S. Energy Information Administration (EIA) said U.S. crude stockpiles fell last week despite slow refinery activity...