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Oil higher as Saudi oil minister boasts about output deal

Oct. 19, 2016 7:25 AM ETUCO, USO, OIL-OLD, DBO, USL, UGA, UHN, DTO, OLO-OLD, SCO, DNO, BNO, UWTI, DWTI, OILX, OILK, SZOXF, OILBy: Stephen Alpher, SA News Editor15 Comments
  • Speaking at the "Oil & Money" conference in London, Saudi Arabia oil minister Khalid Al-Falih says many non-OPEC countries (Russia?) may join in the cartel's deal to limit output. The countries, he says, are willing to not just freeze, but implement healthy cuts.
  • Also in attendance at the conference, Exxon CEO Rex Tillerson says any worry of a future supply shortage is overblown, thanks to the game-changer of U.S. shale.
  • Texas Tea is higher by 1.3% this morning to $50.95 per barrel. USO +1.05% premarket
  • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, UGA, USL, DNO, OLO, UHN, SZO, OLEM, OILK, OILX

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