GO
Loading...

OPEC

More

  • Supporters see possible inroads in a Congress controlled by Republicans who generally are considered more receptive to oil exports, as well as some signs that the Obama administration may at least be open to consider changes to longstanding policy, which bans the export of raw crude. The ban was put in place in the 1970 s after the OPEC oil embargo led to fuel...

  • *Oil may have hit bottom, could rise soon, says OPEC's Badri. LONDON, Jan 27- Oil prices steadied above $48 a barrel on Tuesday, recovering from earlier losses as the dollar weakened against the euro. Prices were also supported after the Secretary-General of the Organization of the Petroleum Exporting Countries, Abdullah al-Badri, said oil prices may have bottomed...

  • *Oil may have hit bottom, could rise soon, says OPEC's Badri. SINGAPORE, Jan 27- Oil gave up early gains with Brent futures slipping below $48 on Tuesday as a stronger dollar weighed, offsetting comments from producer group OPEC that prices may have found a floor. "OPEC's Secretary General commented yesterday that prices may have bottomed, but there was no imminent...

  • *Oil may have hit bottom, could rise soon, says OPEC's Badri. SINGAPORE, Jan 27- Brent crude oil prices held above $48 on Tuesday following comments from OPEC that prices may have found a floor. "OPEC's Secretary General commented yesterday that prices may have bottomed, but there was no imminent prospect of OPEC producers sitting down to discuss cutbacks until...

  • *Oil may have hit bottom, could rise soon, says OPEC's Badri. SINGAPORE, Jan 27- Oil prices were little changed on Tuesday, with Brent holding above $48 following comments from a top OPEC official that prices may have found a floor. "OPEC's Secretary General commented yesterday that prices may have bottomed but there was no imminent prospect of OPEC producers...

  • UPDATE 9-Oil slides despite OPEC talk of a floor Monday, 26 Jan 2015 | 4:22 PM ET

    *Oil may have hit a floor, OPEC secretary general says. NEW YORK, Jan 26- Oil fell in see-saw trade on Monday, with U.S. crude ending at its lowest in nearly six years, as traders discounted comments from OPEC's top official about the market finally finding a bottom. Following the restart of a major U.S. Midwest refinery unit, the Brent/WTI spread narrowed to $3.01 after...

  • Crude oil settles down 44 cents, at $45.15 a barrel Monday, 26 Jan 2015 | 2:34 PM ET

    U.S. oil prices were steady Monday, ahead of the first big snowstorm this year in the country's Northeast.

  • *Sees little imminent prospect of non- OPEC help on supply. LONDON, Jan 26- Oil prices at current levels may have reached a floor and could move higher very soon, OPEC's secretary-general said on Monday, his first public comment that oil's second-biggest decline on record may have run its course. Defending OPEC's decision, Badri warned that any oil supply cut would...

  • UPDATE 6-Oil prices slip after smooth Saudi transition Monday, 26 Jan 2015 | 10:16 AM ET

    *OPEC secretary-general comments fail to sustain bounce. LONDON, Jan 26- Oil prices slipped on Monday after Saudi Arabia's new King Salman moved to assuage fears of an unstable transition and any policy change in the world's largest oil exporter. March Brent crude was trading at $48.55 per barrel by 1509 GMT, down 24 cents, above an early low of $47.57.

  • Wilbur Ross's oil prediction  Monday, 26 Jan 2015 | 8:36 AM ET

    Near term it could get "messy," says Wilbur Ross, WL Ross & Company chairman & CEO, sharing his outlook on oil.

  • *OPEC secretary-general thinks prices may have reached a bottom. LONDON, Jan 26- Oil prices turned positive on Monday, erasing early losses after the Secretary-General of the OPEC producer group said he expected the market to bottom out around current levels. "Now the prices are around $45- $55 and I think maybe they reached the bottom and will see some rebound very...

  • Markets in limbo but remains secular bull: Pro  Monday, 26 Jan 2015 | 7:35 AM ET

    Jeffrey Saut, Raymond James Financial, provide an outlook the markets. Oil is nearing a bottom phase and that could present some opportunities, says Saut.

  • President Obama to visit Saudi Arabia  Monday, 26 Jan 2015 | 6:17 AM ET

    CNBC's Hadley Gamble reports President Obama will likely discuss terrorism when he travels to Riyadh on Tuesday.

  • OPEC announced last November it would keep output steady at 30 million barrels a day, despite pleas from some members for it to cut output to support prices and revenues. Stuart Glickman, an equity analyst at S&P Capital IQ, said there was no indication OPEC would cut production soon. "It's a calculated bet that the shale producers in the U.S. can't withstand the pain...

  • US crude ends 2% lower, at $45.59 a barrel Friday, 23 Jan 2015 | 2:33 PM ET
    Saudi Arabia's King Abdullah.

    Brent rose on Friday on uncertainty over Saudi oil output following the death of King Abdullah.

  • It's downhill for US after Saudi king dies: Experts Friday, 23 Jan 2015 | 1:38 PM ET

    The Saudis ultimately want higher oil prices, Again Capital partner John Kilduff tells CNBC after the death of King Abdullah.

  • *Saudi-led OPEC focus to remain, safeguarding market share. NEW YORK, Jan 23- U.S. crude fell modestly on Friday while global Brent gained support from market uncertainty over the future of Saudi oil production following King Abdullah bin Abdulaziz's death. Brent was up 30 cents at $48.82 by 11:20 a.m. EST, while U.S. crude fell 21 cents to $46.10.

  • Alwaleed: No more $100 oil, but we won't blink Friday, 23 Jan 2015 | 10:42 AM ET
    Prince Alwaleed Bin Talal

    Saudi Prince Alwaleed also tells CNBC that Saudi Arabia and OPEC will not blink.

  • *Saudi-led OPEC focus set to stay on retaining market share. LONDON, Jan 23- Brent crude oil rose on Friday after the death of Saudi Arabia's king added to uncertainty in oil markets, although the new ruler indicated immediately there would be no policy change. Brent crude rose to a high of $49.80, up $1.28 a barrel, before easing to around $49.20 by 1515 GMT.

  • DUBAI, Jan 23- Saudi Arabia's new King Salman was quick to keep veteran oil minister Ali al-Naimi on Friday in a message aimed at calming a jittery energy market mindful of Naimi's powerful role within the OPEC group of oil-exporting countries. The 79- year-old Naimi has been a leading figure in the market for two decades and successfully argued in November that...