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OPEC

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  • *U.S. weekly oil rig count decline slows- Baker Hughes. SINGAPORE, May 4- Brent crude dipped towards $66 a barrel on Monday as weak Chinese data added to demand fears, while near-record supplies from OPEC producers maintained worries about oversupply. What the market really wants to see is supply being cut to match the demand level, "said Ric Spooner, chief market...

  • *Iraq oil exports hit record 3.08 mln bpd in April. SINGAPORE, May 4- Brent crude dipped towards $66 a barrel on Monday as weak Chinese data stoked demand fears, while near-record supplies from OPEC producers reinforced worries about oversupply. Oil supplies from the Organization of the Petroleum Exporting Countries, which produces about 40 percent of oil...

  • MOSCOW, May 2- Russian oil and gas condensate production, among the world's largest, remained at a post-Soviet record level of 10.71 million barrels per day in April, underpinned by a recent recovery in oil prices, Energy Ministry data showed on Saturday. So far Russia, which is not an OPEC member, has failed to persuade OPEC to cut oil output in order to prop up prices.

  • NEW YORK, May 1- U.S. oil producers are rushing to take advantage of the rebound in oil markets by locking in prices for next year and beyond, safeguarding future supplies and possibly paving the way for a rebound in production. The flurry of hedging activity in the past month will help sustain producers' revenues even if oil markets tumble again, which is bad news for...

  • TOKYO, May 1- U.S. crude oil futures were steady around $59.70 a barrel in quiet trade on Friday with many major markets closed for May Day, after posting the biggest monthly gain in six years in April. *U.S. crude for June delivery was 4 cents higher at $59.67 a barrel by 1145 GMT. *OPEC oil supply in April has jumped to its highest in more than two years, boosted by record or...

  • *Brent to average $60, WTI $54.40 in 2015- Reuters poll. *OPEC production hits 2- yr highs in April- Reuters survey. In Thursday's session, Brent was up 60 cents at $66.44 a barrel by 11:12 a.m. EDT.

  • LONDON, April 30- OPEC oil supply in April has jumped to its highest in more than two years, boosted by record or near-record supplies from Iraq and Saudi Arabia, a Reuters survey showed, as key members stand firm in their focus on market share. The increase from the Organization of the Petroleum Exporting Countries puts output further above forecasts of demand for...

  • CARACAS, April 28- Venezuela opposition leader Henrique Capriles said on Tuesday that the OPEC member's accumulated inflation rate was 50 percent during the first four months of 2015.. Venezuela's economic problems include inflation last year totaling 68 percent, the highest of any economy in the Americas. Opposition-leaning web site La Patilla said on...

  • April 28- Fair and stable oil prices will benefit producers and consumers, allowing global supply and demand to grow at a steady pace, Saudi Arabia's Oil Minister Ali al-Naimi said on Tuesday. The slide in oil prices since the middle of last year deepened after Saudi Arabia and other OPEC nations refused to cut production in November in a bid to maintain market...

  • ALGIERS, April 27- Algeria's state energy company Sonatrach has demanded its service providers cut their prices by up to 15 percent as the OPEC member country tries to ward off the impact of falling oil prices, industry sources said. The collapse in crude prices is testing Algeria's economy, which relies on energy sales for 60 percent of state revenues and to pay...

  • Why the US won't have OPEC to kick around in 2016 Monday, 27 Apr 2015 | 6:36 AM ET
    Qatar Oil Minister Mohammed bin Saleh Al-Sada (L), Saudi Oil Minister Ali al-Naimi, and United Arab Emirates Energy Minister Suhail bin Mohamed al-Mazroui (R) attend the opening session of the 10th Arab Energy Conference in Abu Dhabi, on December 21, 2014.

    U.S. elections have long featured a familiar whipping post. Yet thanks to the energy boom, it's one that may not play a role in 2016.

  • The main issue assumes that the iron ore miners and OPEC are in effective control of the markets in which they operate, or at least exercise a large degree of influence over them. There are probably members of OPEC that wish their market was more like iron ore, and vice versa. Unlike OPEC, the iron ore miners don't have a producers' group and would struggle against...

  • Libya shuts down El Feel oilfield - field engineer Saturday, 25 Apr 2015 | 4:25 PM ET

    TRIPOLI, April 25- Libya has shut down the El Feel oilfield, an engineer at the western field said on Saturday. The OPEC producer had managed to restart the field this year after a pipeline had been blocked for months. El Feel is operated by a joint venture owned by Libya's National Oil Corp and Italy's Eni.

  • *OPEC surplus nears 10- year high of 2 mln barrels per day. LONDON, April 24- Brent crude edged up on Friday, poised to mark a third consecutive week of price increases as air strikes in Yemen stoked concerns over the security of Middle East oil shipments. A softer U.S. dollar and strong economic indicators in Europe and Asia also lent support to oil prices despite OPEC...

  • *Saudi-led coalition continues Yemen bombings. *OPEC surplus nears 10- year high of 2 mln barrels per day. LONDON, April 24- Brent crude was on track to finish the week near 2015 highs on Friday as air strikes in Yemen stoked concerns over the security of Middle East oil shipments.

  • *Saudi-led coalition continues Yemen bombings. *OPEC surplus nears 10- year high of 2 mln barrels. LONDON, April 24- Brent crude looked set to finish the week near 2015 highs on Friday as air strikes in Yemen stoked concerns over the security of Middle East oil shipments.

  • Commodities tomorrow: Crude highest since December   Thursday, 23 Apr 2015 | 4:00 PM ET
    Commodities tomorrow: Crude highest since December

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Yemen helps push crude higher, and production in the US declined slightly.

  • US crude posts highest 2015 settle Thursday, 23 Apr 2015 | 2:30 PM ET
    Oil fracking

    U.S. crude futures closed up 2.81 percent at $57.74 on Thursday after Saudi Arabia and its allies maintained a bombing blitz in Yemen.

  • Commodities tomorrow: Oil at its sweet spot?   Wednesday, 22 Apr 2015 | 4:00 PM ET
    Commodities tomorrow: Oil at its sweet spot?

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. WTI down after a larger-than-expected build. Traders think oil prices are in their sweet spot, she says.

  • CARACAS, April 22- Oil Minister Asdrubal Chavez led a Venezuelan delegation in Qatar for meetings with local officials on Wednesday following similar talks in Iran and Saudi Arabia on an OPEC tour seeking ways to boost crude prices, according to a government statement. So far unable to nudge Saudi Arabia and its Gulf allies into supporting supply cuts,...