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OPEC

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  • *Oil rout not over, OPEC needs to cut output- Newedge. SINGAPORE, Oct 31- Brent crude futures fell below $86 a barrel on Friday as a firmer dollar and a well supplied oil market combined to put the benchmark on course to end October with its steepest monthly decline since 2012.. "We are still not confident about oil prices rebounding sharply because there are no signs...

  • Brent falls below $86, heads for worst month since 2012 Thursday, 30 Oct 2014 | 10:45 PM ET

    *Oil rout not over, OPEC needs to cut output- Newedge. SINGAPORE, Oct 31- Brent crude futures fell below $86 a barrel on Friday as a firmer dollar and a well supplied oil market combined to put the benchmark on course to end October with its steepest monthly decline since 2012.. "We are still not confident about oil prices rebounding sharply because there are no signs...

  • NYMEX-Crude below $81, set for fourth monthly loss Thursday, 30 Oct 2014 | 8:19 PM ET

    TOKYO, Oct 31- U.S. crude futures edged below $81 a barrel on Friday, extending declines as the dollar rallied on bets of a sooner-than-expected U.S. rate hike, while traders saw little chance of OPEC cutting output at its November meeting. *NYMEX crude for December delivery was down 15 cents at $80.97 a barrel by 0002 GMT, after settling down $1.08 on Thursday.

  • NEW YORK, Oct 30- Oil prices closed down 1 percent on Thursday, resuming their downtrend after a two-day climb, as the dollar rallied on bets of a sooner-than-expected U.S. rate hike and traders placed little hope on OPEC cutting output at its November meeting. "We're back to the mantra that the U.S. economy will lead the way to higher rates from hereon, and that's...

  • NEW YORK, Oct 30- Oil prices fell about 1 percent on Thursday, resuming their downtrend after a two-day climb, as the dollar surged on bets of a sooner-than-expected U.S. interest rate hike and traders appeared resigned that producer group OPEC won't do much to cut output next month. "We're back to the mantra that the U.S. economy will lead the way to higher rates from...

  • *Current low oil prices do not reflect fundamentals, OPEC says. Benchmark Brent crude oil for December settled up $1.09 at $87.12 a barrel, after touching an intraday high of $87.94. "I think the numbers are supportive, and suggest there's no big surplus of oil forming in any place," said Dominick Chirichella, senior partner at the Energy Management Institute in New...

  • *OPEC says fundamentals do not reflect low oil prices. Benchmark Brent crude oil for December was up $1.73 at $87.76 a barrel at 11:41 a.m. after touching an intraday high of $87.94. Crude inventories in the United States rose by 2.1 million barrels in the last week, compared with analysts' expectations for an increase of 3.4 million barrels, data from the...

  • LONDON, Oct 29- Pierre Andurand, one of the most respected and successful fund managers in the oil industry, said he believed U.S. light crude oil could fall as low as $50 per barrel. Andurand told the Oil and Money conference that he thought it unlikely that OPEC would cut production, even though current supply and demand trends suggested the market could be in a 2...

  • *OPEC fine for 2014 with average prices, sec gen says. *OPEC must be ready to pump 40 mln bpd by 2040. Oil's drop below the $100- mark, the level many OPEC members had endorsed, has raised the question of whether OPEC will cut supply when it meets in November.

  • UPDATE 4-Oil rises to $87 ahead of Fed statement Wednesday, 29 Oct 2014 | 7:40 AM ET

    *OPEC sec gen says fundamentals do not reflect low oil price. LONDON, Oct 29- Brent crude oil rose to $87 a barrel on Wednesday as traders anticipated that the Federal Reserve would keep U.S. interest rates low, putting pressure on the dollar. Brent crude for December was up 95 cents at $86.98 a barrel by 1125 GMT, after touching a high above $87.

  • *OPEC fine for 2014 with average prices, sec gen says. LONDON, Oct 29- There is no need to panic at the recent collapse in oil prices because market fundamentals have not changed much, OPEC's secretary general said on Wednesday. OPEC is reviewing the situation, "OPEC Secretary General Abdullah al-Badri said in London, where he was attending the Oil& Money conference, an...

  • Libya near ‘point of no return’: UN envoy Wednesday, 29 Oct 2014 | 3:47 AM ET
    Bullet casing and damaged airplanes on the tarmac at Tripoli international airport after fighters from the Libyan Dawn coalition captured the airport from allies of rogue general Khalifa Haftar.

    Libya is nearing a “point of no return”, as warring factions struggle to agree on a political future, a United Nations envoy has warned.

  • How low oil prices could go from here, with Jon Huntsman Sr. of Huntsman Corporation.

  • CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Stocks were up, and so was crude oil. Traders still expect prices to go lower in the next few days.

  • US oil production not 'hindered' by prices: Pro     Tuesday, 28 Oct 2014 | 12:35 PM ET

    Head of Commodity Markets Strategy at BNP Paribas, Harry Tchilinguirian says U.S. oil supplies aren't 'hindered by current price levels' and the country 'keep on producing' even if the oil price falls to $75.

  • Why OPEC's losing its ability to set oil prices Monday, 27 Oct 2014 | 5:22 PM ET
    Workers make a pipe connection on the drill string on the Orion Perseus drilling rig near Encinal in the Eagle Ford Shale in Webb County, Texas.

    OPEC is losing its price-setting influence on global oil prices to U.S. shale production, according to Goldman Sachs analysts.

  • Commodities tomorrow: How low should oil go?     Monday, 27 Oct 2014 | 4:00 PM ET

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil fell below $80 today, but did close around $81.

  • DUBAI, Oct 27- OPEC is unlikely to lower its oil production ceiling when the group meets in November, a senior Iranian oil official said, in comments that reduced the likelihood of any collective OPEC action to support prices. He also said an emergency OPEC meeting before then, called for by Venezuela, was not necessary. Top OPEC producer Saudi Arabia has been...

  • Energy stocks fall as oil slips below $80, Monday, 27 Oct 2014 | 10:53 AM ET

    Goldman Sachs analysts now expect U.S. oil prices to be roughly $75 a barrel in 2015, down from their previous forecast of $90 a barrel. Goldman Sachs is the latest Wall Street bank to lower its forecast for crude prices, saying that OPEC was unlikely to reduce exports in an effort to lift prices and that U.S. production continues to expand. Halliburton, Nabors...

  • DUBAI, Oct 27- OPEC is unlikely to reduce its production ceiling when the group meets in November, Iran's oil ministry news agency Shana cited Mohsen Qamsari, director for international affairs of National Iranian Oil Company, as saying on Monday. OPEC meets on Nov. 27 to decide on its output policy amid calls by some members of the producing group to cut output to...