CNBC's Bertha Coombs reports on the oil markets, live from the NYMEX.
Oil prices edged lower Friday on doubts about OPEC's first planned output cut in eight years.
Exxon Mobil said it could write down billions of barrels of reserves as the company faces federal investigations into how it values them.
“We think even without an OPEC deal, prices are headed higher and that’s purely because of fundamentals,” a Barclays oil analyst told CNBC.
Exxon Mobil on Friday reported earnings of that topped analysts' expectations.
Chevron on Friday reported quarterly earnings of $1.3 billion, or 68 cents a share, on revenues of $30.14 billion.
It will be difficult to push oil prices much higher even if OPEC reaches an agreement to limit crude output, Dennis Gartman said.
The French oil and gas company Total has managed to offset the effects of weak commodity prices by reporting better-than-expected profits in the third quarter of 2016.
Tesla's third-quarter earnings results had something for both bulls and bears.
The oil market is taking a breather after the past month's rally sparked by hopes of an OPEC output limit.
Wall Street is anticipating improvement in quarterly earnings from oil majors after many missed forecasts last quarter.
Saudi Arabia is committed to bringing OPEC together but a 4 percent output cut seems unrealistic, says Credit Suisse's David Hewitt.
Even without an OPEC deal, Barclays oil analyst, Miswin Mahesh, explains why he thinks prices are still going to head higher.
Barclays oil analyst, Miswin Mahesh, says the market is losing hope now when it comes to hopes of an output cut by OPEC.
There's a strange correlation occurring this year between crude and airline stocks.
OPEC's next formal meeting will be acrimonious, as cracks start to appear in the bloc, says Harry Tchilinguirian of BNP Paribas' commodity derivatives group.
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"Fast Money" trader Dan Nathan discusses implied moves in the options market for Exxon Mobil and Chevron ahead of earnings.
Oil edged above $50 a barrel on Thursday, drawing support from sources' comments that OPEC's Gulf members are willing to cut their output.
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