U.S. crude held steady around $102 on Friday, but was on track for a weekly fall with weak demand and plentiful supplies weighing on the market.» Read More
Bijan Namdar Zangeneh, Iranian oil minister, explains that in the event of Iranian production coming back on stream, OPEC will be able to maintain capacity and oil prices levels.
Jason Schenker, president and chief economist at Prestige Economics, discusses the decisions taken at Wednesday's OPEC meeting, including a renewal of the production ceiling and what it implies for oil prices in 2014.
CNBC's Steve Sedgwick reports on details of the OPEC meeting, and if there is a threat to western oil prices.
Through the hustle and bustle of OPEC's meeting in Vienna on Wednesday, Iranian Oil Minister Bijan Namdar Zangeneh sent out an invite to global oil majors.
OPEC agreed on Wednesday to renew for the first half of 2014 a collective oil production cap of 30 million barrels a day, two OPEC delegates said.
OPEC oil ministers are widely expected to hold oil output to nearly 30 million barrels daily after Iran announced it will increase its oil output, reports CNBC's Steve Sedgwick.
Bijan Namdar Zangeneh, Iranian oil minister, explains to CNBC that Iran plans to produce four million barrels of oil a day "immediately" after sanctions are lifted.
Ali Al Naimi, Saudi Arabian oil minister, tells CNBC that shale oil is a "welcome addition" to the world's energy reserve.
Bill Farren-Price, CEO of Petroleum Policy Intelligence, explains that it would take "at least a year" for Iranian oil production to come back on stream after the second phase of negotiations are agreed.
Richard Mallinson, geopolitical analyst at Energy Aspects, discusses the 2014 outlook for the oil market and expects U.S. supply to grow strongly and Saudi Arabia to make "a big cut."
Nigeria is aggressively tackling oil theft in the country, oil minister Diezani Alison-Madueke told CNBC on Wednesday in a TV interview.
Daniel Lacalle, senior portfolio manager at Ecofin, and Didier Duret, CIO at ABN AMRO, discuss potential problems in the oil price and Chinese economy.
Saudi Arabia's oil minister downplays the threat of oversupply despite Iran looking to ramp up its production even if oil hits $20 a barrel.
Johannes Benigni, managing director of JBC Energy, says that it is unlikely Iran will break its oil production limit.
U.S. crude oil futures rose more than $1 on Wednesday as government data showed an unexpected draw in stockpiles.
CNBC's Sharon Epperson reports oil closed above $96 per barrel, the highest price since the end of October. And TransCanda's key pipeline will be operational by January 3rd.
WTI crude oil futures surged to a one-month high on expectations for the first decline in weekly U.S. crude supplies in nearly three months.
CNBC's Sharon Epperson reports the pop in natural gas and the rise in WTI futures.
Gareth Lewis-Davies, senior oil strategist at BNP Paribas, discusses whether OPEC will cut its 2014 oil supply, and what the arrival of Iranian oil on the market would mean for other producers.
BP won a legal reprieve to avoid payments over losses not traceable to the 2010 Gulf of Mexico oil spill, potentially sparing it extra costs.