InFocus | Oil
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Friday Jan 9
Oil slips below $41as US unemployment continues to rise
Oil prices sliped below $41 a barrel on Friday as data showing a big rise in US unemployment deepened gloom over the outlook for the world's biggest oil consumer.
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Thursday Jan 8
Demand for oil could fall by 45%, says Saudi official
Oil demand could fall 45 per cent due to the global financial crisis, but investments should be increased to ensure supplies are maintained, a senior Saudi government official said in remarks published on Thursday.
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Thursday Dec 18
Oil hovers near four-year low despite Opec production cut
Oil steadied around $40 a barrel on Thursday, near its lowest in more than four years, despite Opec's biggest ever production cut.
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Thursday Nov 20
Oil slides below $50
Crude oil fell below $50 a barrel in New York for the first time in almost two years as a recession in the US, Europe and Japan cut global energy demand.
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Tuesday Nov 18
Oil rises to $56, rebounding from 22-month low
Oil rose near $56 a barrel on Tuesday, rebounding from a near 22-month low on stronger US industrial output data, but fears that the global economic slump was further trimming fuel demand kept a lid on gains.
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Tuesday Nov 4
Doubts about Saudi adherence to Opec cutbacks put to rest
Saudi Arabia has cut oil supply to some major customers with immediate effect, industry sources said yesterday, easing doubts about whether the world's top exporter will comply quickly with Opec (Organisation of the Petroleum Exporting Countries) curbs.
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Tuesday Nov 4
Opec supply declines in October
Oil supply from the Organisation of Petroleum Exporting Countries (Opec) fell in October for a second consecutive month as Saudi Arabia and Iran trimmed production and maintenance curbed supply in the UAE, a Reuters survey showed on Monday.
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Tuesday Nov 4
Oil drifts lower towards $67
Oil drifted lower towards $67 a barrel on Monday as traders shifted their focus back to slowing global energy demand linked to the financial crisis.
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Monday Nov 3
UAE slashes oil production following an Opec agreement
The UAE has reduced its crude oil output following an agreement with Opec.
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Friday Oct 24
Emergency OPEC meeting expected to debate output cut
An emergency OPEC meeting on Friday was expected to cut production by at least a million barrels per day as a first step towards halting a deep price slide.
