The energy sector was the best performing group in the S&P 500 on Wednesday.
About 100 oil and gas companies have filed for bankruptcy since the start of the oil price rout, and as many more could file before the cycle ends.
CNBC's Jackie DeAngelis reports on the close of the oil markets following OPEC news out of Algeria.
OPEC could announce an output-freeze deal on Wednesday in Algeria, although full details are unlikely before a formal meeting in November, two OPEC sources said.
The Futures Now team discusses their expectations out of the OPEC meeting in Algiers, as well as oil's rally today.
RBC Capital Markets says oil prices may slip to $40 or lower if OPEC members leave Algeria without any promise of a deal.
John Browne, L1 Energy chairman, provides insight to Well Fargo's sales scandal and the ensuing clawback.
Oil prices rose as much as 6 percent on Wednesday on a report OPEC members have reached a deal to limit oil supply.
The commodity's prices could quickly dive to $40 or lower if OPEC members leave Algeria on Wednesday without any promise of a deal.
Many doubt that such an oil output deal – even if reached at the 11th hour – could hold anyway.
Kicking a production freeze deal down the road was probably the best oil bulls could hope, strategists told CNBC.
Longstanding tensions between Saudi Arabia and Iran will hold OPEC back from an oil production freeze in the near term, analysts said.
Ontario has announced it is to "immediately suspend" the second phase of its Large Renewable Procurement process.
OPEC does not want to give the markets any negative signals but Saudi Arabia-Iran consensus remain a key issue, says Energy Aspects' Virendra Chauhan.
CNBC's Hadley Gamble discusses the latest lines to come out of this week's oil producer meeting in Algiers.
Saudi Arabia is actually well-positioned to reduce overproduction as it is near maximum output, says Argus Media's Alejandro Barbajosa.
OPEC members have disparate agendas and will unlikely reach an agreement on anything, says Martin Place Securities' Barry Dawes.
The OPEC meeting in Algeria may not have resulted in a resolution as of Tuesday, but at least one person is optimistic.
The slump in energy prices means oil-producing countries face a “clear need” to diversify their economies and improve competitiveness, WEF says.
"Fast Money" trader Dan Nathan shares his bullish bet on the XLE ETF in the options market. The "Fast Money" traders weigh in.
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