Norwegian oil conflict widens, production drops by 55,000 bpd
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An ongoing conflict in Norway's oil sector will be jacked up, according to the trade union organizing the work stoppage.
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The OPEC producers' cartel would  consider cutting formal output limits by 1 million to 1.5  million barrels per day (bpd) at its end-January meeting if  U.S. crude prices fall below $40 a barrel, an OPEC source said  on Friday.
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The Organisation of Petroleum Exporting Countries (OPEC) has reportedly agreed to increase production quotas by 4% or one million barrels per day (bpd), to 27mn bpd.
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Norwegian petroleum companies Statoil ASA and Norsk Hydro ASA elbowed into the global fray for oil yesterday with a plan to form a state-controlled giant that would be the world's largest offshore oil producer.
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Crude oil futures slipped yesterday as Norwegian officials ordered striking oil workers back on the job, preventing more cuts in production from the third-largest global exporter of crude.
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Oil prices fell to their lowest level   in five months on Thursday after energy giant BP said it could   bring its huge oil field in Prudhoe Bay, Alaska, back to full   production by the end of October.
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NEW YORK -- Crude oil futures slipped yesterday as Norwegian officials ordered striking oil workers back on the job, preventing more cuts in production from the third-largest global exporter of crude.
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Norway's oil rig strike is set to escalate Friday night, cutting total output by around 55,000 barrels of oil a day, the Norwegian Shipowners Association told Dow Jones Newswires Thursday.
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Core Gulf producer Kuwait will meet its  OPEC cut by lowering oil product sales by 190,000 barrels per  day (bpd) during first-quarter refinery maintenance, a Kuwaiti  oil official said on Wednesday.
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Crude oil futures slipped yesterday as Norwegian officials ordered striking oil workers back on the job, preventing any more cuts in production from the third-largest global exporter of crude.
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Crude oil rebounded from its biggest drop in three years as 7 percent of Norway&#39;s production remained shut down. Statoil ASA, Norway&#39;s top oil company, has no estimate for when pumping will resume, a company spokesman said today.
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New York - Oil prices pulled back from fresh highs Monday, as the Norwegian government ordered striking workers back to the job, ending a labour dispute that threatened the output of the world&#39;s third-largest exporter of crude.
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Oil extended a week of losses to strike a  new five-month low under $67 on Friday after U.S. distillate  supplies rose sharply and BP said it might be able to restore  its Alaskan oilfield sooner than expected.
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An extra 3 million barrels per day (bpd)  of production capacity worldwide is needed to avoid another  year of blistering oil prices, International Energy Agency  (IEA) executive director Claude Mandil warned on Sunday.
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OSLO - Norwayâs oil production faces a crisis in mid-November with a threat by oil sector groups on Monday to stage a lock-out to end industrial action which has weighed on the industry since July.
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The Organization of the Petroleum Exporting Countries (OPEC) has agreed informally the need to cut production by at least 1 million barrels per day (bpd) to keep the price of its crudes above $50-$55, the Financial Times reported on Thursday without naming sources.
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An extra 3 million barrels per day (bpd) of production capacity worldwide is needed to avoid another year of blistering oil prices, International Energy Agency (IEA) executive director Claude Mandil warned on Sunday.