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  • OPEC should consider return to oil quotas-delegate Friday, 17 Apr 2015 | 9:43 AM ET

    *OPEC last set quotas in 2008, not easy to revive them. LONDON, April 17- OPEC should consider re-introducing individual output quotas, shuffled quietly to one side in 2008, to prevent oversupply hitting prices should Iran increase its oil exports following a deal over its nuclear work, an OPEC delegate said. "Iraq is increasing each month and if that is so and if...

  • *OPEC, IEA say OPEC output surges, adding to glut. LONDON, April 17- Oil prices eased slightly on Friday as evidence this week of rising crude supplies from OPEC members offset Middle East tensions and signs of a slowdown in U.S. output. A day earlier, the International Energy Agency, which advises industrialized countries, also reported a surge in OPEC production to...

  • UPDATE 4-Oil slips below $64 as ample supplies weigh Friday, 17 Apr 2015 | 5:14 AM ET

    *OPEC, IEA say OPEC output surges, adding to glut. LONDON, April 17- Oil eased below $64 a barrel on Friday as evidence this week of rising crude supplies from OPEC members outweighed signs of a slowdown in U.S. output and Middle East tensions. A day earlier, the International Energy Agency, which advises industrialized countries, also reported a surge in OPEC...

  • *OPEC says March output up by 810,000 bpd. SINGAPORE, April 17- Brent crude oil prices fell on Friday, ending a run of rallies earlier in the week, after OPEC said that its output surged in March, adding to a global glut. Dipping output from the United States and other rival producers due to oil prices halving since June last year, increased demand for OPEC's supplies, the...

  • *OPEC says March output up by 810,000 bpd. SINGAPORE, April 17- Brent crude oil prices fell over a dollar on Friday, ending a run of rallies earlier in the week, after OPEC said that its output surged in March, adding to a global glut. "The strategy of OPEC to put pressure on the high-cost producers is working, but the individual members seem to have moved off that focus and...

  • Oil prices fall as OPEC production soars Thursday, 16 Apr 2015 | 8:54 PM ET

    *OPEC says March output up by 810,000 bpd. SINGAPORE, April 17- Oil prices fell in early trading on Friday, ending a run of rallies earlier in the week, after OPEC said that its output surged in March, adding to a global glut. "The strategy of OPEC to put pressure on the high-cost producers is working, but the individual members seem to have moved off that focus and are...

  • SINGAPORE, April 17- U.S. crude futures slipped towards $56 a barrel on Friday as soaring oil production from OPEC members stoked concerns over a global glut, but Middle East tensions kept a floor under prices. It climbed 32 cents to settle at $56.71 the day before, after hitting a 2015- high of $57.42. *Russian President Vladimir Putin said Iran's flexibility over...

  • *OPEC March output surges 810,000 bpd on Saudi, Iraq boost. NEW YORK, April 16- Crude oil prices jumped to fresh 2015 peaks on Thursday, turning higher on news that a tribal group made up of former Al Qaeda militants took control of a major southern oil terminal in Yemen. "The report on Al Qaeda forces taking over facilities in Yemen sent prices up," said Phil Flynn, analyst...

  • *OPEC March output surges 810,000 bpd on Saudi, Iraq boost. But on Thursday, OPEC said in its monthly report that its own output surged by 810,000 barrels per day in March, even as low prices start to weigh on U.S. production. "There is some profit taking, but the confirmed OPEC production increase... has to weigh on prices to some degree," said John Kilduff, partner at Again...

  • NEW DELHI, April 16- An Indian delegation will visit Iran this week to scout for investment opportunities ahead of an anticipated nuclear deal between the OPEC- member and world powers that would soften sanctions against the country, sources privy to the plan said. India is Iran's biggest oil client after China although its imports from Tehran have declined...

  • *OPEC March output surges 810,000 bpd on Saudi, Iraq boost. In a monthly report on Thursday, OPEC said demand for its oil this year would be 80,000 barrels per day higher than previously thought as lower prices curb supplies in the United States and other non-member countries. OPEC refused to cut its output in 2014 despite a price collapse, seeking to slow...

  • LONDON, April 16- OPEC said on Thursday demand for its oil this year would be higher than previously thought as its strategy of letting prices fall to hurt other producers begins to take effect. But the monthly report from the Organization of the Petroleum Exporting Countries also confirmed industry estimates of a surge in OPEC production in March, led by higher...

  • And Venezuela's oil minister Asdrubal Chavez met in Caracas with the local ambassadors of eight OPEC members plus Indonesia on Wednesday, the ministry said. Nearly four months of sub- $60 a barrel crude oil prices is weighing heavily on cash-strapped producers such as Venezuela and Russia, who failed to coax OPEC into cutting output last November.

  • CARACAS, April 15- Venezuela said ambassadors of various OPEC countries, including Saudi Arabia, were meeting the country's oil minister Asdrubal Chavez in Caracas on Wednesday. "Ambassadors of Saudi Arabia, Algeria, Ecuador, Iraq, Kuwait, Nigeria, Qatar, Iran and Indonesia are present," the Oil Ministry said in a tweet. The Oil Ministry's twitter feed said the group...

  • *OPEC production surges to 31.02 mln bpd- IEA. LONDON, April 15- Oil prices jumped more than a dollar on Wednesday after a lower than expected build of crude oil stocks in the United States. Crude stocks there rose 1.29 million barrels to 483.69 million barrels in the week to April 10, the U.S. Energy Information Administration said on Wednesday, against a forecast of a...

  • Oil supply buffer could halve as OPEC output rises Wednesday, 15 Apr 2015 | 10:41 AM ET

    LONDON, April 15- An oil supply shortage may be the last thing on investors' minds right now, but the ability of OPEC producers to cope with an unexpected surge in demand is diminishing fast, analysts and forecasters say. "A much thinner oil supply buffer could be developing," said Virendra Chauhan, oil analyst at London- based market consultancy Energy Aspects.

  • *Russian delegation to meet OPEC in Vienna in June. Russia has stepped up contacts with OPEC after oil prices plunged last year, however it has dismissed any suggestion it might cut output to prop up prices, saying it is technically impossible to idle production due to the harsh climate in Siberia, the heartland of Russian oil production. The fall in price of oil,...

  • What matters to markets Wednesday Wednesday, 15 Apr 2015 | 7:00 AM ET
    Traders work on the floor of the New York Stock Exchange.

    Early morning earnings reports from major financial companies and a few economic reports could set the tone for Wednesday's markets.

  • Blast of financial earnings, oil and economics Wednesday, 15 Apr 2015 | 6:02 AM ET
    Traders work on the floor of the New York Stock Exchange.

    Early morning earnings reports from major financial companies and a few economic reports could set the tone for Wednesday's markets.

  • *OPEC output surges in March, may be sustained in April. LONDON, April 15- World oil markets may take longer to tighten than expected due to a surge in OPEC supply and a potential rise in Iranian exports, even as demand shows signs of strength, the International Energy Agency said on Wednesday. OPEC production surged to 31.02 million barrels per day in March, almost a...