GO
Loading...

Enter multiple symbols separated by commas

OPEC

More

  • LONDON, May 28- The U.S. shale oil boom is turning global crude pricing on its head with the historical notion that light grades shall be priced at a premium to heavy ones quickly disappearing, according to predictions from producer group OPEC. The trend will have big implications for global oil flows, reducing revenues of light-oil-producing nations such as...

  • OPEC EXPECTS DEMAND FOR ITS CRUDE TO FALL FROM 30 MLN BPD IN 2014 TO 28.2 MLN BPD IN 2017, TO RISE TO ALMOST 40 MLN BPD BY 2040- DRAFT REPORT.

  • *Low oil prices have yet to depress non- OPEC production. A draft report of OPEC's long-term strategy, seen by Reuters ahead of the cartel's policy meeting in Vienna next week, forecast crude supply from rival non- OPEC producers would grow at least until 2017.. "Since June 2014, oil prices have experienced a significant reduction, reaching levels even lower than the...

  • OPEC SAYS' EVEN SEVERE LOW PRICE' WILL NOT RESULT IN OUTPUT CUTS FROM PRODUCING NON-OPEC FIELDS- DRAFT REPORT.

  • NON-OPEC CRUDE SUPPLY TO GROW UNTIL 2017 DESPITE OIL PRICE FALL- OPEC DRAFT LONG-TERM REPORT.

  • Commodities tomorrow: Oil continues slide   Wednesday, 27 May 2015 | 4:00 PM ET
    Commodities tomorrow: Oil continues slide

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil prices were down again today, and traders think the downward slide is likely to continue.

  • Maduro rules out dollarizing Venezuela's economy Wednesday, 27 May 2015 | 9:53 AM ET

    CARACAS, May 27- President Nicolas Maduro has ruled out dollarizing Venezuela's economy as a way to resolve the recession-hit OPEC nation's chaotic currency situation. Speculation Venezuela could adopt the U.S. currency emerged after news this month that some local divisions of foreign car companies might charge in dollars due to their difficulties in...

  • *Russia to meet OPEC next week, likely to stick to strategy. MOSCOW/ LONDON, May 27- As Russia prepares to meet OPEC next week, a briefing paper from a Moscow think tank has shed light on how the government was warned against cutting oil output late last year even though global prices were plummeting. "If Russia cuts output, OPEC will take our market share in Europe," a team...

  • Commodities tomorrow: Oil range-bound for summer?   Tuesday, 26 May 2015 | 4:00 PM ET
    Commodities tomorrow: Oil range-bound for summer?

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. A stronger dollar and a flattening rig count number helped push down crude prices.

  • *OPEC meets next week; Iran sees no output change. Friday's weekly data showed U.S. drillers cut the number of rigs by just one last week and Goldman Sachs said prices were at a level that would spur activity, adding to a growing list of headwinds crude faces that include rising OPEC supply. On Sunday, Iran said the Organization of the Petroleum Exporting Countries...

  • *Dollar rally weighing on oil could run further- Morgan Stanley. *OPEC meets next week; Iran sees no output change. The dollar could rally further, Morgan Stanley said, adding to a growing list of headwinds crude faces that include rising OPEC supply.

  • May 26- A once-popular pair trade pitting the U.S. dollar against oil prices has re-emerged in recent weeks, injecting a new wildcard into the market just as the Organization of the Petroleum Exporting Countries prepares to meet. About two weeks ago, Morgan Stanley analysts said an "uncanny" relationship has developed between the dollar index and benchmark...

  • SINGAPORE, May 26- U.S. crude was steady early on Tuesday as firm demand supported prices and ample supply dragged. Robust demand in Asia as well as from the driving season in the United States is being met by near record output, especially from the Organization Of Petroleum Exporting Countries, although U.S. production seems to have been peaked, at least...

  • TEHRAN, Iran— Iran will raise gasoline prices by some 40 percent beginning Tuesday, the country's official news agency reported, the latest cut to the Islamic Republic's fuel subsidies that cost it some $32 billion a year. Iran, an OPEC member, consumes 70 million liters of gasoline daily, with some 10 percent refined and imported from abroad.

  • DUBAI, May 24- OPEC is unlikely to change its production ceiling when the group meets in June, Iran's Oil Minister Bijan Zanganeh said on Sunday, according to the semi-official Mehr news agency. "Lowering OPEC's production ceiling requires consensus between all members... under current conditions it seems unlikely that the OPEC production ceiling will change,"...

  • DUBAI, May 24- OPEC is unlikely to change its production ceiling when the group meets in June, Iran's Oil Minister, Bijan Zanganeh, said on Sunday, according to the semi-official Mehr news agency. "Lowering OPEC's production ceiling requires consensus between all members... under current conditions it seems unlikely that the OPEC production ceiling will change,"...

  • IRAN OIL MINISTER SAYS OPEC UNLIKELY TO CHANGE PRODUCTION CEILING- MEHR NEWS AGENCY.

  • Saudi Arabia rewrites its oil game with refining might Friday, 22 May 2015 | 10:25 AM ET

    *Refining and trading could shift Kingdom's OPEC calculus. LONDON, May 22- Saudi Arabia's rapid transition into one of the world's largest oil refiners adds an extra dimension to the oil exporter's role as the driver of OPEC policy. When it attends OPEC's next meeting in two weeks, it does so with major new state-of-the-art oil refineries that can profit from...

  • Commodities tomorrow: Crude climbs   Thursday, 21 May 2015 | 4:00 PM ET
    Commodities tomorrow: Crude climbs

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Crude was up $1.74 to cross the $60 threshold.

  • Commodities tomorrow: Production down, crude up   Wednesday, 20 May 2015 | 4:00 PM ET
    Commodities tomorrow: Production down, crude up

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.