SINGAPORE, July 2- Oil prices were broadly unchanged from their previous close in early trading on Thursday after tumbling 4 percent a day earlier as U.S. stockpiles rose for the first time in months on the back of high production. Following Wednesday's drop, front-month U.S. crude futures were trading at $56.95 per barrel at 0015 GMT, down 1 cent from their last...» Read More
David Lennox, Resources Analyst at Fat Prophets, says the next few OPEC output reports may show a different story to rhetoric at Thursday's meeting. Richard Martin of IMA Asia joins in the discussion.
Richard Martin, Managing Director at IMA Asia, says U.S. oil can drop sink below $60 in the near-term. In Asia, prices are dependent on China, he warns.
Nigerian oil minister Diezani Alison-Madueke, says OPEC and non-OPEC members need to come together to reach an equilibrium on oil prices.
OPEC will cut oil production at its meeting on Vienna on Thursday, Johannes Benigni, founder and managing director at JBC Asia says, adding that if it delays a cut, the cartel will lose credibility.
Neil Atkinson, head of analysis at Lloyd's List Intelligence, says OPEC members are unlikely to cut oil production at this meeting, but this will push the price of the commodity lower.
Speaking to reporters at the OPEC meeting in Vienna, Bijan Zangeneh, Iranian oil minister, says there is more oversupply in the oil market to come.
Alejandro Barbajosa, Vice President for Crude Middle East & Asia-Pacific at Argus Media, says an agreement to reduce production to 29 million barrels per day would be a strong signal.
Dennis Gartman, Founder, Editor & Publisher of The Gartman Letter, says OPEC won't reduce output since members need high levels of cash flow in order to fulfill promises to citizens.
Tim Condon, Head of Research for Asia at ING Financial Markets, says the lower oil prices are giving governments opportunities to do pro-market reforms in countries like Malaysia and Indonesia.
Don Luskin, Chief Investment Officer at Trend Macro, says technological abundance is collapsing prices in the energy sector, which is hurting major cartels like OPEC.
The idea that the cartel is worried about market share is misleading, says Daniel Hynes, Senior Commodity Strategist at ANZ.
Bill Smead, CEO and CIO at Smead Capital Management, explains his trading approach against a backdrop of sliding oil prices.
Peter Boockvar, Chief Market Analyst at The Lindsey Group, says Wall Street shares are "extraordinarily overbought" at the moment due to expectations of central bank support.
CNBC's Bertha Coombs discusses the day's activity in the commodities markets. OPEC will announce a possible production cut tomorrow.
Discussing the bottom for oil and the outlook for the Middle East region, with Helima Croft, RBC Capital Markets.
CNBC market analyst Steve Grasso, drills down on oil and explains why energy is a short going forward.
CNBC's Melissa Lee reports the natural gas inventories fall to 162 billion cubic feet, a bigger decline than expected.
CNBC's Bertha Coombs reports the crude oil and gasoline data ahead of tomorrow's OPEC meeting.
CNBC's Steve Sedgwick discusses expectations for OPEC's statement on oil production ahead of tomorrow's meeting.
Ahead of the OPEC meeting in Vienna, Charles Whall, portfolio manager at Investec Asset Management, says that the cartel does not need to cut oil production by a lot to see a rise in revenues.