GO
Loading...

OPEC

More

  • Outflows from four of the largest oil-specific exchange traded funds, including the largest U.S. Oil Fund, reached $338 million in two weeks to April 8, according to data from ThomsonReuters Lipper. If the exodus gathers pace it could signal new pressure on crude oil prices that had begun to stabilize at around $50 a barrel this year following their 60 percent...

  • NEW YORK, April 13- Crude futures rose on Monday, but closed well below intraday peaks, as concerns about Iran and turmoil in Yemen supported prices, while the global supply glut continued to cap gains. Iran on Monday urged the formation of a new Yemeni government, comments likely to anger fellow OPEC member Saudi Arabia, which is backing Yemen's president against a...

  • Commodities tomorrow: Oil up, gas down?   Monday, 13 Apr 2015 | 4:00 PM ET
    Commodities tomorrow: Oil up, gas down?

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil bounced around a bit today before settling slightly higher.

  • OPEC slams oil producers' 'go-it-alone' attitudes Monday, 13 Apr 2015 | 2:14 PM ET
    Oil Iraq OPEC

    OPEC published a stinging critique of oil-producing countries that refused to follow its lead in holding back supply in an effort to boost prices.

  • NYMEX-U.S. crude edges down on global glut concerns Sunday, 12 Apr 2015 | 8:41 PM ET

    *U.S. crude for May delivery had fallen 7 cents to $51.57 a barrel by 0026 GMT, after closing up 85 cents in the previous session to mark its fourth consecutive weekly rise. *Oil exports from Iran may not rise significantly for three to five years even if OPEC member and world powers clinch a final nuclear deal by end-June, Fatih Birol chief economist and future head of...

  • NEW DELHI, April 12- World oil markets will not see a significant rise in Iranian supplies for up to five years even if the OPEC member and world powers clinch a final nuclear deal by end-June, Fatih Birol chief economist and future head of International Energy Agency said. Iran and six world powers reached a framework nuclear agreement on April 2, spurring hopes...

  • Commodities next week: Crude bounces on rig counts

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. The rate of oil rig shutdowns has picked up again. That and geopolitical concerns in the Middle East pushed oil slightly higher.

  • Baker Hughes reports biggest oil rig drop in a month Friday, 10 Apr 2015 | 2:40 PM ET
    Rusted out 'pump-jacks' in the oil town of Luling, Texas.

    Crude prices held gains after Baker Hughes reported drillers increased the pace of rig reductions in U.S. oilfields after two weeks of thin declines.

  • *Iran demands all sanctions end when nuclear deal signed. LONDON, April 10- Oil edged further below $57 a barrel on Friday, pressured by evidence of ample supplies including the biggest jump in U.S. inventories since 2001 and Saudi Arabian output reaching a record high. The price of Brent has halved from $115 a barrel in June last year, a drop that deepened after OPEC...

  • *OPEC needs to discuss output levels before next meeting. BEIJING, April 9- OPEC's strategy of holding output steady is not working and the group's members should discuss production levels before its next meeting in June, Iran's oil minister said, a sign of the pain lower prices are causing OPEC's less wealthy producers. Iran was among the OPEC members which...

  • Oil tumbles 6.6%, erasing this year's gains Wednesday, 8 Apr 2015 | 2:45 PM ET
    An oil well in the Permian Basin is shown in Garden City, Texas, Feb. 5, 2015.

    Oil settled at $50.42 a barrel after government data showed the largest weekly increase in US crude inventories since 2001.

  • *OPEC governor: production cut of at least 800,000 bpd needed. LONDON, April 8- OPEC should change course and cut oil supply by 800,000 barrels per day or more to prevent an expected return of Iranian exports from weighing on prices, Libya's OPEC governor said. "OPEC members, as a unit, need to re-evaluate their strategies," Samir Kamal, Libya's OPEC governor and head of...

  • Volatile oil, a dovish Fed, and start of earnings Wednesday, 8 Apr 2015 | 5:57 AM ET
    Traders work on the floor of the New York Stock Exchange.

    Markets expect to hear from a dovish Fed Wednesday, while a bubbling up of oil prices makes weekly U.S. inventory data a bigger than normal focus.

  • Traders work on the floor of the New York Stock Exchange.

    Markets expect to hear from a dovish Fed Wednesday, while a bubbling up of oil prices makes weekly U.S. inventory data a bigger than normal focus.

  • Commodities tomorrow: Oil up on Yemen   Tuesday, 7 Apr 2015 | 4:00 PM ET
    Commodities tomorrow: Oil up on Yemen

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil was up on the day as Saudi airstrikes reportedly hit civilians, and an EIA report said demand for oil was picking up.

  • RIYADH, April 7- Saudi Arabia's oil minister Ali al-Naimi said on Tuesday that the kingdom stood ready to "improve" prices but only if other producers outside of OPEC joined the effort. "The kingdom is still ready to help bring back stability to the market and improve prices in a reasonable and suitable manner, but with the participation of the main producing and...

  • Commodities tomorrow: Crude creeps higher   Monday, 6 Apr 2015 | 3:44 PM ET
    Commodities tomorrow: Crude creeps higher

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil was up on the day as the Saudis raised prices in Asia. Also, traders don't believe Iranian oil will come on line until 2016.

  • Iran negotiations bearish for oil prices: Pro Monday, 6 Apr 2015 | 2:04 PM ET
    Rusted out 'pump-jacks' in the oil town of Luling, Texas.

    An economist tells CNBC that negotiations that could lead to sanctions relief for Iran could also be bearish for oil prices.

  • TRIPOLI, April 5- Libya's internationally recognized government said it plans to open a bank account abroad to deposit oil revenues, hoping to divert proceeds from the industry away from the country's rival government in Tripoli. Control of the North African OPEC producer's crude revenues is at the centre of a battle between the two rival governments and...

  • NEW YORK, April 2- Brent oil fell nearly 4 percent on Thursday after a preliminary pact between Iran and global powers on Tehran's nuclear program, even as officials set further talks in June and analysts questioned when the OPEC member will be allowed to export more crude. The sanctions against Iran will come off under a "future comprehensive deal" to be agreed by...