ARTICLES RELATING TO
CRUDE OIL
South Africa suspended all imports of crude oil from Iran for a fifth consecutive month in October, data shows.
ExxonMobil became the fourth oil major in a month to warn customers over delays to Nigerian oil and gas exports.
The Excess Crude Account (ECA) increased to $7.6 billion in July from 5.8 billion dollars in June.
The NNPC has extended the date for companies to submit their applications for 2012-2013 oil term contracts.
Oil prices rose to near $107 a barrel in Asia after a report showed US crude supplies fell unexpectedly, a sign demand may be improving.
The International Monetary Fund says the latest sanctions against Iran are tantamount to an oil embargo and supply cuts will push up prices 20-30% higher.
Global stocks and crude oil rallied on rising hopes Greece will abandon plans to hold a referendum over a euro-zone bailout.
State oil firm PetroSA has reversed its loss from last year on the back of higher crude oil prices.
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