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  • *OPEC increases January output to 30.37 bpd- survey. The late-session surge was primed by Baker Hughes data showing the number of rigs drilling for oil in the United States fell by 94- or 7 percent- this week. Brent settled up $3.86 at $52.99 a barrel, after running to as high as $53.08.

  • U.S. oil surged $3.18 to $47.71 a barrel. Baker Hughes reported that the number of rigs drilling for oil in the U.S fell by 94 in the past week to 1,223. That's down 199 from this time last year. OPEC has declined to cut back on its production, putting pressure on U.S. companies to curtail drilling as oil prices fall to a level that makes some production unprofitable.

  • *OPEC increases January output to 30.37 bpd- survey. NEW YORK, Jan 30- Oil rose on Friday as concerns over fighting in Iraq extended short covering from the previous session, but crude prices were still poised for a seventh month of declines, the longest rout on record. Crude was up in early trading Friday in New York on renewed violence in oil producer Iraq, where...

  • *OPEC increases Jan. output to 30.37 bpd- Reuters survey. LONDON, Jan 30- Oil fell below $49 a barrel on Friday and was on course for its seventh straight month of declines, the longest such bear run on record as a supply glut showed no signs of easing with OPEC increasing production in January. Benchmark Brent crude prices have kept within a band of $45- $50 a barrel since...

  • LONDON, Jan 30- OPEC's oil supply has risen this month due to more Angolan exports and steady to higher output in Saudi Arabia and other Gulf producers, a Reuters survey showed, a sign key members are standing firm in refusing to prop up prices. Supply from OPEC has averaged 30.37 million barrels per day in January, up from a revised 30.24 million bpd in December,...

  • Backers see a changing landscape that includes a Congress controlled by Republicans generally viewed as more receptive to oil exports, and some signs the Obama administration will consider modifications to the longstanding policy that bans exports of raw crude. The ban is a relic of the 1970 s, after an OPEC oil embargo led to fuel rationing, high prices and...

  • US crude hits lowest since March 2009 after Fed Wednesday, 28 Jan 2015 | 2:18 PM ET
    Workers connect drill bits and drill collars on Endeavor Energy Resources’ Big Dog Drilling Rig 22 in the Permian basin outside of Midland, Texas, Dec. 12, 2014.

    The latest increase added to the previous week's build of over 10 million barrels, which was the biggest in 14 years.

  • Commodities tomorrow: Good day today  Tuesday, 27 Jan 2015 | 4:00 PM ET

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil was actually up on the day as the dollar was down. Nat gas was up on the day, as well, and gold was also positive today.

  • *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...

  • Commodities tomorrow: Dollar pressures oil  Monday, 26 Jan 2015 | 4:00 PM ET

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. A stronger dollar put downward pressure on oil, and nat gas was down even with the winter temperatures dropping.

  • 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.