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October 5, 2015 6:58 am

Saudi Arabia to Scale Back on Record Crude Oil Output Levels

Oil Up, Erasing Early Loss; US Rig Count Down 5th Week

Crude prices erase early losses to rise by 1% or more after a report showing the fifth weekly decline in the US oil rig count renewed the debate over falling production in the world’s top oil consumer.

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Jim Rogers Says Oil Ignoring Bad News Usually Means Rebound Near

Oil is holding near $45 while the bad news keeps coming. For investor Jim Rogers, that’s usually a sign a rebound is near.

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Baker Hughes: US Oil Drillers Cut Rigs For 5th Week

US energy firms cut 26 oil rigs in the latest week, the biggest reduction since April and the fifth straight weekly decline, data shows.

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Somali Government Rejects Proposed UN Moratorium on Oil Deals

Somalia opposes a moratorium on oil deals that’s being discussed at the United Nations as a way of stabilizing one of the world’s most fragile states, Finance Minister Mohamed Adan says.

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Oil Drillers Bet Choking Wells Will Keep Shale From Going Bust

Encana and others envision a future with a more stable flow from wells, so that they don’t always have to keep drilling simply to maintain output.

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