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(Photo by Eddie Seal for Bloomberg News)

Return to $100 oil seen unlikely by Saudis amid shale surge

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Brent oil, the global benchmark, declined almost 50 percent in the past year as Saudi Arabia and others in the Organization of Petroleum Exporting Countries committed to maintain output amid a global surplus.
(Photo credit should read PIUS UTOMI EKPEI/AFP/Getty Images)

Nigeria’s rating lowered by S&P as oil, politics hit economy

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Africa’s largest economy, which derives 90 percent of export earnings and 70 percent of government revenue from oil, is struggling with Brent crude prices having halved since June.
(Andrey Rudakov/Bloomberg)

Russian exports could be the next biggest threat to global crude oil prices

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Russia may increase oil exports by as much as 250,000 barrels a day this year, according to the Oxford Institute for Energy Studies.
(AFP/Getty Images)

Petrobras said to pick Citi and Bradesco for asset sales

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Petrobras, engulfed in Brazil’s biggest ever corruption scandal, is looking to raise money for expenditures and debt payments this year.
(AP Photo/Hasan Jamali, File)

More Iran oil may flow within months of deal, officials say

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Both sides are seeking a final deal by the end of June laying out steps that Iran would have to take to limit its ability to enrich uranium and produce plutonium in exchange for phasing out economic sanctions on energy and banking that have cut crude exports, choked cash flow and halted most oil investment.
Joe Kaeser, chief executive officer of Siemens AG. (Krisztian Bocsi/Bloomberg)

Siemens drops as oil price slump hurts profitability, sales

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Siemens is in the midst of cutting 9,000 jobs to save 1 billion euros in costs by 2017.
(AP file photo/John Moore)

Saudi crude exports in January reached highest in 11 months

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The growth in January exports coincided with a 7.6 percent slide in the Brent crude price that month, signaling that cheaper oil may be stimulating demand amid a global surplus.
(Photographer: Eddie Seal, Bloomberg)

Report: Oil firms’ rising debts add downward price pressure

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Debts owed by energy firms have more than doubled since 2006, the Bank for International Settlements said in a report on Wednesday, following similar comments last month.
(AP Photo/Hasan Jamali)

Dragon Oil gets buyout approach from Emirates National Oil

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Emirates National has been seeking new oil supplies. Dragon produced an average of 78,790 barrels of oil a day last year with sales of $1.09 billion.
(Photo by Eddie Seal for Bloomberg News)

Tourmaline hunts for energy deals as rivals dump assets

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Tourmaline is growing as peers shed assets and reduce dividends with U.S. crude hovering below $50 a barrel.