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Oil rises after five-day slide as markets rally and OPEC cuts

Oil rose for the first time in six days as OPEC to backed prolonging supply cuts and other markets rallied after the first round of French presidential elections.

Oil set for biggest weekly loss since early March on U.S. supply

Oil headed for its biggest weekly loss since early March as signals from OPEC that it will persevere with output cuts failed to offset evidence that U.S. supplies are plentiful.

Eni-operated Libyan oil field said to reopen after two-year halt

Libya’s El-Feel oil field, operated by a venture between Eni SpA and the state producer, reopened after a two-year halt in operations that crimped the OPEC nation’s output, according to a person familiar with the situation.

Oil trades near two-week low as OPEC plans vie with supply gain

Oil traded near its lowest in two weeks as comments from some OPEC producers that the group will extend output cuts were undermined by signs of rising supply.

Oil stockpiles grow despite OPEC's cuts

When OPEC and Russia meet next month to assess the impact of their oil cuts they face a surprising outcome: stockpiles are even higher than when they started.

Oman Oil seeking banks to help sell assets amid Aramco IPO

Oman Oil Co., the sultanate’s state-owned energy producer, is seeking advice from banks to sell some energy assets and list units on the local stock market, following plans by its larger peer Saudi Arabian Oil Co. to offer shares to the public.

Major oil producers reach initial deal to extend output cuts

A number of major crude-producing countries reached an agreement to extend output cuts as persistently high stockpiles weigh on prices.

Iran may keep same oil output if others extend cuts, Kuwait says

Iran will probably be allowed to keep its oil production unchanged if OPEC decides to extend its six-month agreement on output cuts beyond June, Kuwaiti Oil Minister Issam Almarzooq said.

OPEC chief sees oil producers closer to re-balancing market

Oil-producing nations are moving closer toward ending a global glut and re-balancing the crude market the group’s Secretary-General Mohammad Barkindo said.

Saudi oil exports hit 21-month low as kingdom sticks to cuts

Saudi Arabia cut exports to a 21-month low in February as local refineries took advantage of more abundant supplies and processed a record amount of crude.

SDX Energy strikes pay at South Disouq concession in Egypt

SDX Energy Inc., the North Africa focused oil and gas company, announced that drilling on the carried SD-1X well at its South Disouq concession, where it hold s a 55% equity interest and is operator in the Nile Delta area of Egypt has reached its first target depth.

Bullish oil bets gain on signs OPEC cuts to outdo U.S. boom

OPEC is finally making some headway in its race against the tide of surging U.S. supplies, and speculators are giving the group greater credence.

Aramco CEO sees oil market closer to balance, despite U.S. boom

The global oil market is moving closer to balance even as increases in U.S. oil production push prices down in the short-term, Saudi Arabian Oil Co. CEO Amin Nasser said.

Iran boosts gas output capacity with new projects at giant field

Iran, holder of the world’s biggest natural gas reserves, boosted output by inaugurating six projects at the giant South Pars offshore field.

Oil from U.S., Saudis: Top buyers get what they want

Buyers in the world’s biggest oil market are finding they can almost always get what they want, at a time when they weren’t expected to get what they need.

Oil stocks rose despite OPEC cut, IEA says

Global oil inventories increased despite OPEC’s near-perfect implementation of production cuts.

Goldman Sachs still confident in crude

“We forecast that inventories will continue to decline driven by the combination of production cuts and the strong demand growth,” the analysts wrote, referring to oil. The bank reiterated its outlook for U.S. West Texas Intermediate to rise to $57.50/bbl and Brent crude to $59/bbl in the second quarter.

Oman Oil said to seek strategic advice amid Aramco IPO plans

Oman Oil Co., the sultanate’s state-owned energy producer, is seeking advice from banks on strategic options for its business, according to people familiar with the matter, following plans by larger peer Saudi Arabian Oil Co. to sell shares to the public.

Lukoil completes 3D seismic acquisition at West Qurna-2, Iraq

Lukoil has completed a field 3D seismic survey at West Qurna-2 field in Iraq. The survey covered an area of about 450 km2.

Abu Dhabi's Mubadala raises $1.5 billion ahead of IPIC merger

Mubadala Development Co., the Abu Dhabi sovereign wealth fund merging with International Petroleum Investment Co., raised $1.5 billion through a dual-tranche bond after receiving almost four times that amount in bids, people familiar with the matter said.