Oil could plummet to as low as $35 next year if OPEC members do not reach an agreement by the spring, said Oil Price Services founder Tom Kloza.» Read More
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Everyone is looking to the Saudis to see what they plan to do at this week's meeting. Traders figure they'll be less inclined to cut production.
All eyes are on OPEC this week to see if it will cut supply. However, one market pro thinks the organization is becoming irrelevant.
CNBC's Michelle Caruso-Cabrera highlights the world's next big energy plays and looks at just how much oil and gas is waiting to be tapped.
Consumer discretionary stocks and crude oil have been trading the way they normally do when OPEC is about to cut production.
Bhushan Bahree, IHS senior director, thinks there will still be a need for OPEC in 25 years. CNBC contributor John Kilduff, disagrees.
OPEC meets on Thursday, and many on Wall Street wonder whether there will be a production cut. CNBC's Kate Kelly reports how traders are positioned ahead of the meeting. CNBC contributor John Kilduff, weighs in.
A reduction in the quota, likely to 29.5 million barrels per day, dismissing some price war fears and sparking a rally. We therefore do not expect the cartel to be able to prevent the price of a barrel of Brent from falling to $70 by the end of 2016, even if this is below OPEC's current comfort zone. " "With the decline in prices, the likelihood of OPEC announcing a...
*Losses pared after WSJ reports OPEC may agree on cut. NEW YORK, Nov 25- Oil prices tumbled to near four-year lows before paring some losses on Tuesday as the market was hit with conflicting signals on whether OPEC will agree to curb output at its meeting this week. Crude prices reversed early gains and fell more than $1 a barrel after a meeting in Vienna on Tuesday...
Over the next 25 years, the U.S. will become a global energy powerhouse. That shift will reshape geopolitical power.
NEW YORK— These are the moments OPEC exists for: A sharp drop in global oil prices has reduced the amount of money OPEC countries take in by nearly $1 billion a day. But there is widespread doubt that OPEC will be able to do much of anything when it meets in Vienna later this week— doubt sent oil down another 2 percent Tuesday. "OPEC countries do exactly what we would...
CNBC's Steve Sedgwick reports on moves in oil ahead of the OPEC meeting in Vienna.
CNBC's Steve Sedgwick reflects upon the upcoming OPEC meeting and discusses efforts to push the oil price to $100 per barrel.
A meeting between Saudi Arabia, Venezuela, Russia and Mexico did not lead to any agreement to lower crude production, Venezuela said.
*Saudi's Naimi meets Russian, Venezuelan and Mexican counterparts Meeting held ahead of Thursday's OPEC summit. NEW YORK, Nov 25- Oil prices rose on Tuesday, with Brent crude above $80 per barrel, after news that Saudi Arabian Oil Minister Ali al-Naimi was meeting with his Russian, Venezuelan and Mexican counterparts ahead on an OPEC meeting that could cut output.
The Saudis are not prepared to give up a vast amount of market share to support the price, says John Kingston, Platts global director of news, providing a preview of this week's meeting among OPEC members.
CNBC's Jackie DeAngelis takes a look at the future of North America's booming energy business.
*OPEC meets in Vienna on Thursday to discuss production. LONDON, Nov 25- Brent crude oil prices steadied under $80 a barrel on Tuesday ahead of a key meeting of OPEC oil producers to decide on oil production levels for next year. Several OPEC members want the group to cut production dramatically to ease a global supply glut, but Saudi Arabia, the biggest exporter,...
CNBC's Phil Han explains what OPEC is and why it's important.
*OPEC meets in Vienna on Thursday to discuss production. SINGAPORE, Nov 25- Brent crude oil prices fell towards $79.20 on Tuesday as traders lowered their expectation of a significant output cut by OPEC, but the market received some support from an uptick in German GDP and hopes of strengthening U.S. data later in the day. "Investors appear to have lowered the...
The Organization of Petroleum-Exporting Countries (OPEC) is facing a "shale-tinged" reality and needs a "wake-up call," energy analysts warn.