Brent crude futures steadied above $86 a barrel on Wednesday, as buyers gradually returned to a market hammered to four-year lows by abundant supply.» Read More
*OPEC ministers to meet in Vienna on Nov. 27. CALGARY, Alberta, Oct 20- Brent crude resumed its decline on Monday, dropping below $86 a barrel as nagging concerns about abundant supply and sluggish demand pushed the global oil benchmark back down toward a four-year low hit last week. Oil prices are down more than 25 percent since June on concern about a saturated...
Oct 20- Halliburton Co, the world's No.2 oilfield services provider, said there were no signs of a slowdown in drilling activity despite the recent 25 percent fall in oil prices. Halliburton's shares rose about 2.5 percent in early trading after the company reported a better-than-expected quarterly profit and raised its quarterly dividend.
Halliburton reported a better-than-expected profit, helped by buoyant shale drilling activity in North America.
*OPEC ministers due to meet in Vienna on Nov. 27. Abundant global oil supplies, particularly of very high quality, light oil, coupled with a gloomy economic outlook from Europe to China pushed Brent last week below $83, to its lowest since 2010. Oil prices are down more than 25 percent since June. Saudi Arabia, Kuwait and Iran have all indicated reluctance to change...
Stephen Schork, "The Schork Report" editor says oil prices may be approaching a bottom of the market.
Neil Atkinson, head of analysis at Lloyd's List Intelligence, says OPEC is likely to cut oil production but won't place individual country quotas.
Saudi crude exports have been sliding in the past few months as shale oil squeezes Saudi oil out of U.S. markets and as demand in Asia, particularly in China, has been slower than expected. North America's shale boom has started to squeeze Saudi oil out of the U.S. market, the International Energy Agency said in a report last month, estimating Saudi exports would run...
The recent drop in oil prices could be due to more than just lower demand, according to some analysts, who have suggested that the U.S. could be deliberately manipulating the market.
*Saudi Arabia, Kuwait stop production at Khafji oilfield. LONDON, Oct 20- Brent crude steadied around $86 a barrel on Monday, holding on to a rally from near four-year lows last week on news of a cut in Saudi- Kuwait oil output. But the news was cited as a positive factor by some traders at a time when crude oil production exceeds demand and ahead of an OPEC meeting on Nov. 27...
Jason Schenker, president of Prestige Economics, says there are several factors which could push the oil price lower.
Patrick Legland, global head of research at Societe Generale, says the U.S. could deliberately be pushing down oil prices to hurt Russia.
*Saudi Arabia, Kuwait stop production at Khafji oilfield. *Uncertainty over who controls Libya's oil. SINGAPORE, Oct 20- Brent crude edged higher on Monday, holding on to gains scored in the previous session that took it above $86 a barrel after robust U.S. data buoyed global financial markets, with a cut in Saudi- Kuwait oil output providing further support.
*Saudi Arabia, Kuwait stop production at Khafji oilfield. *Uncertainty over who controls Libya's oil. SINGAPORE, Oct 20- Brent crude futures edged higher on Monday, holding on to gains scored in the previous session that took it above $86 a barrel after robust U.S. data buoyed global financial markets, with a cut in Saudi- Kuwait oil output providing further support.
Brent crude futures edged higher, after U.S. data buoyed global financial markets, with a cut in Saudi-Kuwait oil output providing further support.
SINGAPORE, Oct 20- U.S. crude futures bounced back above $83 a barrel on Monday after a three-week fall that pulled prices to their lowest since 2012 amid abundant supply and slack demand. *U.S. crude for November delivery was up 67 cents at $83.42 a barrel by 2355 GMT. *Indonesia's President-elect Joko Widodo plans to order the steepest rise in subsidized fuel...
One of the absolutely stupidest things I have heard in recent weeks is that the recent drop in oil prices is bad, says Larry Kudlow.
U.S. crude closed higher Friday but was still down on the week. Some pros expect the slide to continue.
CNBC's Tyler Mathisen looks ahead to what are likely to be next week's top business and financial stories. Apple Pay hits retailers. The new NBA season starts and so does the World Series.