Oil and Gas


  • Oil Hits $80 for First Time Wednesday, 12 Sep 2007 | 2:30 PM ET
    Oil Refinery in California

    Oil prices briefly rose to a record $80 a barrel in afternoon trading Wednesday, after the government reported a surprisingly large drop in crude oil inventories and declines in gasoline supplies and refinery activity.

  • The Gas Diet: Higher Prices Means A Thinner You!? Wednesday, 12 Sep 2007 | 10:05 AM ET

    Now we know why Europeans are thinner than we are. It has nothing to do with diet. It's because they pay so much more for gasoline. What? It's true! At least according to a study by a doctoral student from Washington University in St. Louis.

  • Buffett Continues to Shed Stake in PetroChina Wednesday, 12 Sep 2007 | 8:13 AM ET

    U.S. investor Warren Buffett's Berkshire Hathaway sold more of its stake in top Chinese oil producer PetroChina in late August, selling about US$136 million worth of shares, as it took profits on what has been a lucrative holding.

  • IEA Cuts 2007, 2008 Oil Product Demand Forecast Wednesday, 12 Sep 2007 | 5:22 AM ET

    The International Energy Agency has modestly revised down its oil product demand forecasts for both 2007 and 2008, citing doubts over the growth prospects of the US economy, mild weather, and the high price of crude.

  • VW Takes on Toyota Wednesday, 12 Sep 2007 | 4:23 AM ET

    CNBC Europe's Dan Scott reports from the Frankfurt Motor Show and VW's plans to become the world's biggest carmaker.

  • Crude Oil Closes at New Record Despite OPEC Move Tuesday, 11 Sep 2007 | 5:03 PM ET
    Oil Refinery in California

    Crude oil closed at a new record of $78.23 on the New York Mercantile Exchange as traders turned their attention to a government inventory report expected to show tight supplies and shrugged off OPEC's decision to boost output.

  • Oil Irony: Prices Rise Even As OPEC Opens Taps Tuesday, 11 Sep 2007 | 4:57 PM ET

    In an ironic twist, oil prices rode to a record high on the same day OPEC agreed to open its taps. Earlier today, the Organization of Petroleum Exporting Countries said it would boost production by 500,000 barrels a day, a move forced on the cartel by worries about the possibility of a housing-induced U.S. economic slowdown.

  • OPEC Agrees to Modest Boost In Crude Output Tuesday, 11 Sep 2007 | 4:07 PM ET
    Oil Refinery

    Saudi Arabia persuaded OPEC to raise oil output by 500,000 barrels per day on Tuesday in a gesture to consumer nations worried by the economic impact of $77 oil and rapidly diminishing fuel stocks.

  • U.S. Sees Less Energy Use with Weaker Global Economy Tuesday, 11 Sep 2007 | 3:01 PM ET

    World oil demand in the fourth quarter is expected to be 2 million barrels a day higher compared to levels a year earlier, but future oil use could be less if the global economy slows, the U.S. government's top energy forecasting agency warned on Tuesday.

  • Saudis 1, Everyone Else 0 Tuesday, 11 Sep 2007 | 2:23 PM ET

    So there we have it. A long, drawn out battle has been won once again by the globe’s mightiest oil producer: Saudi Arabia.

  • European stocks closed higher on rising expectations of a cut in U.S. interest rates.

  • Strong-Arm Stocks Tuesday, 11 Sep 2007 | 10:42 AM ET

    Quarterbacks are known for leading their teams on the field. These stocks are leaders in the portfolio.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.

  • Stocks Get a Lift, Street on Fed Watch Tuesday, 11 Sep 2007 | 8:53 AM ET

    Wall Street is counting down to next week's Fed meeting and not much else is influencing trading. Stocks are readying for a higher opening as investors wait for a speech from Fed Chairman Ben Bernanke later this morning and watch the action at OPEC.

  • The OPEC Scrum and What the Ministers Think Tuesday, 11 Sep 2007 | 6:48 AM ET

    Twickenham, Stade de France and now the OPEC Secretariat. All venues for some of the greatest rugby scrums of the Twenty First Century.

  • Fear in the Air Tuesday, 11 Sep 2007 | 5:35 AM ET
  • CNBC Europe's Dan Scott reports from the Frankfurt Motor Show and marvels at Porsche's decision to make a hybrid SUV.

  • OPEC Considers Push for Modest Production Boost Monday, 10 Sep 2007 | 2:03 PM ET

    OPEC weighed a push by some members Monday to modestly boost its production quota amid stubbornly high oil prices and expectations of a spike later this year in the global demand for crude.

  • Oil Prices Fall; OPEC Gulf Members Favor Output Hike Monday, 10 Sep 2007 | 2:01 PM ET

    Oil fell Monday after Gulf members of the Organization of Petroleum Exporting Countries said they favored raising production levels at the group's meeting this week.

  • Merger Monday: Changes In Key Players Monday, 10 Sep 2007 | 11:19 AM ET

    Merger Monday sure isn’t what it used to be, with just a small deal from Humana on the boards today. However, look a little farther and you can still see deals, but the players are changing. That's the point in a very interesting note this morning from Joseph Quinlan at Bank of America. Quinlan's point: "The traditional rainmakers - corporate giants from the United States...

  • Most OPEC Members Oppose Output Increase Monday, 10 Sep 2007 | 11:09 AM ET

    Most OPEC oil ministers held the line on Sunday that current output is sufficient to meet demand, but the world's biggest exporter Saudi Arabia was silent ahead of a Sept. 11 meeting to chart production policy.

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