• UPDATE 1-Libya fighting destroys two days oil supply Sunday, 28 Dec 2014 | 10:08 AM ET

    BENGHAZI, Libya, Dec 28- A fire caused by fighting at one of Libya's main export terminals has destroyed more than two days of the country's oil production, officials said on Sunday, as clashes escalated between factions battling for control of the OPEC member nation. A missile hit an oil storage tank last week at the port of Es Sider during fighting between forces...

  • Algeria calls for OPEC to cut production Sunday, 28 Dec 2014 | 9:45 AM ET

    ALGIERS, Algeria— Algeria's oil minister on Sunday called on OPEC to cut production and raise the price of oil, which has plunged dramatically in the last six months. The call by Youcef Yousfi to the Organization of Petroleum Exporting Countries, of which Algeria is a member, comes as the country is struggling to deal with a halving of oil prices from $120 barrel to...

  • DUBAI, Dec 25- Saudi Arabia plans to raise government spending 0.6 percent to a record high in its 2015 budget while covering a large deficit due to plunging oil prices with its huge fiscal reserves, the Ministry of Finance said on Thursday. Some analysts believe Riyadh is content to see oil prices fall as a way to squeeze out competing producers in non- OPEC nations.

  • SINGAPORE Dec 24- Brent futures fell toward $61 per barrel on Wednesday, giving up some of the previous session's gains, as the U.S. dollar held near its highest level in nearly nine years on strong data. Brent for February delivery dropped 28 cents to $61.41 by 0235 GMT after settling up $1.58 on Tuesday. "Every time oil prices come up for air an OPEC member or short...

  • 2015 energy predictions  Tuesday, 23 Dec 2014 | 10:21 AM ET

    Jackie DeAngelis breaks out the playbook for the energy sector in 2015 and looks at how oil & gas will perform in the coming year.

  • *Outlook remains weak as OPEC says will not cut production. LONDON, Dec 23- Brent crude oil rose above $61 a barrel on Tuesday after data showed the U.S. economy grew at its quickest pace in 11 years in the third quarter, outweighing downward pressure from a global glut and evidence of weak demand in other parts of the world. Brent for February rose $1.38 a barrel to a...

  • Arab producers see oil above $70 by end of 2015 Tuesday, 23 Dec 2014 | 8:52 AM ET
    A customer pumps fuel at a Sunoco Inc. gas station in Rockbridge, Ohio.

    Arab OPEC sources stated that the price of crude oil will surge back to between $70 and $80 per barrel in 2015.

  • US markets: Home prices are key  Tuesday, 23 Dec 2014 | 5:50 AM ET

    Brad McMillan, chief investment officer at Commonwealth Financial Network discusses what to expect from the U.S. markets today.

  • *Outlook remains weak as OPEC says won't cut production. *Brent could drop below $60, WTI to $50, says BofAML. LONDON, Dec 23- Brent crude steadied around $60 a barrel on Tuesday, under pressure from a supply glut but supported by forecasts of stronger economic data from the United States, the world's biggest oil consumer.

  • When will oil stabilise?  Tuesday, 23 Dec 2014 | 4:30 AM ET

    Where does oil head from here? Gareth Lewis-Davies, senior oil strategist at BNP Paribas, sees a further drop after the start of 2015, but there will be a improvement, after the "greatest period of stock-building is over" in 2015.

  • *Overall outlook remains weak on OPEC reluctance to cut output. *Brent could drop below $60 a barrel, WTI to $50, says BofAML. SINGAPORE, Dec 23- Oil prices slid back close to opening levels around $60.20 per barrel on Tuesday, after gaining earlier in the day on expectation of firm U.S. economic data due later on Tuesday.

  • *OPEC hopes economic recovery will spur fresh demand. *$100 seen as encouraging non- OPEC output. ABU DHABI, Dec 23- Arab OPEC producers expect global oil prices to rebound to between $70 and $80 a barrel by the end of next year as a global economic recovery revives demand, OPEC delegates said this week in the first indication of where the group expects oil markets to...

  • Overall outlook remains weak on OPEC reluctance to cut output. *Brent could drop below $60 a barrel, WTI to $50- BoAML. WTI crude futures rose over a dollar to a session high of $56.85 a barrel before dipping back to $56.11 at 0340 GMT.

  • Oil prices edge up, trading thin ahead of Christmas Monday, 22 Dec 2014 | 9:32 PM ET

    *Brent could drop below $60 a barrel, WTI to $50- BoAML. Tuesday's quiet opening followed a volatile session on Monday, when Brent prices first jumped to almost $63 a barrel on the back of strong international market performances before sliding back to not much over $60 after Saudi Arabia's powerful oil minister said OPEC would not cut production at any price.

  • SEOUL, Dec 23- U.S. crude futures edged up on Tuesday on expectations that a recent slump in prices could prompt demand, but gains were capped as Saudi Arabia urged its fellow OPEC members not to cut oil output at any price. *Saudi Arabia convinced its fellow OPEC members that it is not in the group's interest to cut oil output however far prices may fall, the kingdom's...

  • Saudi 'shock and awe' slams oil; nat gas burned Monday, 22 Dec 2014 | 5:46 PM ET

    OPEC talked down the oil market, sending crude sharply lower, while warm weather and growing supply battered natural gas prices.

  • Commodities tomorrow: Nat gas down 9% today  Monday, 22 Dec 2014 | 4:00 PM ET

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil sold off again today, as traders look for it to move lower. The average gas price in the US is now $2.39.

  • *U.S. crude falls more than $2 intraday; Brent down over $1. NEW YORK, Dec 22- Oil prices resumed their downward march on Monday, doubling back on the biggest one-day gain in over two years, after Saudi Arabia's powerful oil minister said OPEC would not cut production at any price. After a weekend of comments from several Gulf OPEC members reiterating their intent not...

  • US oil ends 3.3% lower, at $55.26 per barrel Monday, 22 Dec 2014 | 2:34 PM ET

    Oil prices resumed their downward march on Monday after Saudi Arabia's powerful oil minister said OPEC would not cut production at any price.

  • Oil price slide 'good' for global growth: IMF Monday, 22 Dec 2014 | 1:00 PM ET
    An oil processing plant in Kawasaki, Japan, December 18, 2014.

    IMF Economists Blanchard and Arezki stated that oil's current price plunge will continue, thus providing help for global growth.