GO
Loading...

OPEC

More

  • 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.

  • *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...

  • 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...

  • *Saudi-led OPEC focus set to stay on retaining market share. Brent crude rose to a high of $49.80, up $1.28 a barrel, before easing to $49.25 by 1335 GMT. Hans van Cleef, senior energy economist with ABN Amro, said the initial rally after King Abdullah's death was due to uncertainty over succession and Saudi oil policy.

  • *Saudi-led OPEC has kept output steady in fight for market share. SINGAPORE, Jan 23- Oil prices jumped on Friday as news of the death of Saudi Arabia's King Abdullah added to uncertainty in energy markets already facing some of the biggest shifts in decades. Brent crude futures rose to $49.70 a barrel by 0808 GMT, up $1.18 a barrel.

  • *Saudi-led OPEC has kept output steady in fight for market share. While the new king is not seen as likely to change Abdullah's policies of keeping output high to protect the OPEC cartel's market share, some analysts said the succession has focused attention on the future of the oil minister Ali Al-Naimi. "King Abdullah was the architect of the current strategy to...

  • *Saudi-led OPEC has kept output steady in fight for market share. SINGAPORE, Jan 23- Sauid Arabia's new king is expected to stick to an OPEC policy of keeping oil output steady to protect the cartel's market share from rival producers, even as energy markets face some of the biggest shifts in decades. Saudi Arabia's King Abdullah died early on Friday and his brother...

  • *U.S. shale boom has challenged OPEC's dominance. *Saudi-led OPEC has kept output steady in fight for market share. SINGAPORE, Jan 23- Oil prices jumped in Asian trading on Friday as news of the death of Saudi Arabia's King Abdullah added to uncertainty in energy markets already facing some of the biggest shifts in decades.

  • *U.S. shale boom has challenged OPEC's dominance. *Saudi-led OPEC has kept output steady in fight for market share. SINGAPORE, Jan 23- Oil prices jumped in early Asian trading on Friday as news of the death of Saudi Arabia's King Abdullah added to uncertainty in energy markets already facing some of the biggest shifts in decades.

  • NEW YORK— Oil prices rose on the news of the death of Saudi Arabia's King Abdullah Thursday, but the king's death is not expected to change the course of oil prices over the next several months. Saudi Arabia occupies a unique position in world oil markets because it is one of the world's biggest producers, it has the strongest voice within OPEC as its largest...

  • Commodities tomorrow: ECB squeezes oil  Thursday, 22 Jan 2015 | 4:00 PM ET

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. The ECB's QE announcement put downward pressure on oil today, as did a huge weekly build. Nat gas settled down, as well, as inventories were down less than expected. Gold was higher on the day.

  • Algeria to boost oil production in face of falling prices Thursday, 22 Jan 2015 | 12:27 PM ET

    ALGIERS, Algeria— Algeria's minister of energy said Thursday the country could boost oil production to compensate for the dramatic drop in oil prices. Algeria produces some 1.2 million barrels of oil a day, according to its OPEC quota, but the 50 percent drop in prices over the last few months has hurt the country. While Algeria has some $200 billion in foreign...

  • CARACAS, Jan 22- Venezuelan bond prices edged down on Thursday while opponents savaged economic changes by President Nicolas Maduro that included a seeming devaluation of the currency and an imminent rise in domestic gasoline prices. Under pressure over the OPEC member's recession, product shortages and plunging oil revenues, Maduro has opted to keep a...

  • Gunvor: no rebound to $100 oil, contango to deepen Thursday, 22 Jan 2015 | 10:18 AM ET

    AMSTERDAM, Jan 22- Oil trader Gunvor's head of analysis said on Thursday crude was unlikely to return to $100 a barrel in the foreseeable future, but prices were expected to be volatile as traders sought to move oil into storage during the current glut. David Fyfe, formerly research chief at the International Energy Agency, said OPEC would not want to see a return to...