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Pump jacks are seen at the Lukoil company owned Imilorskoye oil field, as the sun sets, outside the West Siberian city of Kogalym, Russia, in this January 25, 2016 file photo. REUTERS/Sergei Karpukhin/Files
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A worker checks the valve of an oil pipe at the Lukoil company owned Imilorskoye oil field outside the West Siberian city of Kogalym, Russia, January 25, 2016. REUTERS/Sergei Karpukhin
Oil up Second Straight Month on OPEC-Fueled Rally
Oil prices settled mixed on Friday while posting their second straight monthly gain on OPEC’s planned output cuts, even as skepticism about the cartel’s pledge grew after data suggested another record high in its production. Brent crude settled up 4...Caption:
Russia’s Energy Minister Alexander Novak (C) attends the extraordinary ministerial meeting of Gas Exporting Countries Forum (GECF) in the Iranian capital, Tehran, last November. (Photo credit: ATTA KENARE/AFP/Getty Images)
Russia Welcomes OPEC Agreement, but Won’t Curb Oil Output
Cairo – Russia announced on Thursday that it is aiming to keep its oil production at near-record levels despite a decision agreed by OPEC to modestly curb global oil output. In comments on Thursday, Russian Energy Minister Alexander Novak signaled that his...Caption:
A man walks past an OPEC logo ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria September 28, 2016. REUTERS/Ramzi Boudina
Oil Rates Enhance after OPEC Optimism
Oil prices marched higher by 3 percent on Thursday, extending their rally on optimism over OPEC’s first output cut plan in eight years. The Organization of the Petroleum Exporting Countries agreed on Wednesday to cut output to 32.5-33.0 million barrels per day...Caption:
This Sept. 11, 2013 file photo shows oil pumps the desert oil fields of Sakhir, Bahrain. (AP Photo/Hasan Jamali, File)