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US stocks open higher, oil may have bottomed out

US stocks open higher; oil may have bottomed out

NEW YORK (AP) — Stocks are opening sharply higher on Friday following a rally in Europe and an upturn in crude oil prices. All 10 industry sectors of the Standard and Poor’s 500 index rose, led by energy company shares. Anadarko Petroleum rose 6.5 percent and Devon Energy gained 8 percent. KEEPING SCORE: The Dow Jones industrial average climbed 175 ...

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Stocks open slightly lower on Wall Street

Stocks open slightly lower on Wall Street

NEW YORK (AP) — Wall Street moved slightly lower early Tuesday, potentially ending three days of gains, as commodity prices retreated. Investors remained worried about China, as the country cut the value of its currency against the dollar yet again. KEEPING SCORE: The Dow Jones industrial average fell 104 points, or 0.6 percent, to 16,515 as of 10:14 a.m. Eastern. The ...

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Oil supply seen outpacing demand, capping price

Oil supply seen outpacing demand, capping price

PARIS (AP) — The International Energy Agency says oil supply is set to outpace demand this year, keeping a lid on any expected price increases. The organization, which advises countries on energy policy, said in its monthly report Tuesday that global excess supply may reach 2 million barrels per day during the first quarter, and a further 1.5 million barrels ...

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IEA: Oil prices may fall further this year

Oil prices may fall further this year, the IEA says

NEW YORK — The International Energy Agency says oil prices may fall further this year due to low demand, warm winter weather and an oversupply of crude. The organization, which advises countries on energy policy, said in its monthly report Tuesday that global excess supply may reach 1.5 million barrels per day during the first half of the year. “Unless ...

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Oil futures slip further after oversupply forecast

TOKYO – Crude oil futures slipped in early Asian trade, adding to a slump on Friday following a forecast from the International Energy Agency (IEA) that the global glut of oil is likely to deepen next year. Brent crude, the global benchmark, fell below $38 a barrel for the first time since December 2008 on Friday after the IEA said ...

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IEA sees bear oil market as stocks balloon

LONDON – The world is awash with oil having built record stockpiles in recent months and slowing demand growth combined with resilient non-OPEC supply could worsen the glut well into next year, the International Energy Agency (IEA) said on Friday. “Stockpiles of oil at a record 3 billion barrels are providing world markets with a degree of comfort,” the IEA ...

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IEA sees oil below $80, what could go wrong? Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Oil prices are unlikely to rise consistently above $80 per barrel before the end of the decade, the International Energy Agency (IEA) predicted in the World Energy Outlook published on Tuesday. Slower growth in demand coupled with the transformational impact of shale on production costs ...

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Governments shouldn’t count on low oil prices: IEA

SINGAPORE – Countries should not bank on oil prices remaining low when formulating their energy policies, as supplies could tighten from mid-2016 due to a drop in investment and falling U.S. output, a senior industry official said on Monday. Global oil prices have more than halved since June 2014 on rising U.S. shale oil output and as members of the ...

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