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Oil price tumbles after OPEC releases 2015 forecast

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The demand for oil in 2015 will drop to its lowest level since 2002 because of an oversupply of crude and stagnant economies in China and Europe, according to OPEC’s latest forecast. Futures for US crude also are down dramatically. The exceptions, the news agency reports, are Kuwait and Qatar. by Andy Tully of Oilprice.com.

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Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

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CME Brent oil futures project continuity: as of August 18, 2015, CME Brent futures projected the price remaining below $60/bbl until June 2017. Are the futures market, CNBC’s oil traders, analysts, and major fund investors, and others, being lulled into an unjustified consensus? percent in 1H 2015. billion vs. $1.6

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Summary of decisions from Durban climate conference

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as possible, but not later than 2015. markets all remain in action as effective tools to leverage global climate action and as models to inform. future agreements. the coordination of adaptation actions on a global scale; and a Technology Mechanism, which are to become fully operational in 2012. existing climate change.

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Opinion: Is Russia Plotting To Bring Down OPEC?

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According to the IMF’s 2015 Article IV Consultation-Press Release and Staff Report , published August 3, oil and natural gas exports constituted 65 percent of exports, 52 percent of the Federal government budget, and 14.5 in 2015 and 2016 respectively). in 2015 and 2016 respectively). percent of GDP in 2014.

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Opinion: Saudi Oil Strategy: Brilliant Or Suicide?

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In the last quarter of 2014, in the face of possible oversupply, Saudi Arabia abandoned its traditional role as the global oil market’s swing producer and therefore it role as unofficial guarantor of existing ($100+ per barrel) prices. The Financial Times quoted analysts as estimating the Saudi budget deficit in 2015 at $130 billion.