Oil rig counts in the U.S. rose for the first time since December 2014 last week, which could impact year-end price targets.» Read More
Saudi women are planning to take to the streets on Friday, not to push for democratic reforms, as has been a common theme in the Arab Spring, but for the right to drive.
Given that we have been short WTI a heck of lot more times than we have been long on it this year, that question almost seems absurd to us.
As Mr. Bernanke observed, interest rates would likely rise on a disruption to the U.S.’ debt obligations. However, political brinkmanship notwithstanding, interest rates are about to rise anyway. For instance, China has lost its appetite for U.S. debt (especially short-term debt) since the Fed went ahead last fall with a second round of quantitative easing.
A plan that would have tapped into the strategic petroleum reserves was one of many idea President Obama has considered to bring down the price of oil, Energy Secretary Steven Chu told CNBC Wednesday.
Natural gas production in the Lower-48 U.S. rose for the first time this year to finish the first quarter. The net storage position finished March at a 4.68 Bcf/d surplus. That was the highest high in three seasons.
Before the bulls get carried away, they should keep in mind that given aforementioned fissures, what’s necessary for OPEC is no longer necessary for its members.
After six straight down weeks, stocks could get rocked in the week ahead amid a slew of economic reports. "Sentiment is still falling," one strategist said, though added that it "hasn't dropped into panic territory."
The killing of Osama bin Laden was a fine CIA and Navy SEAL operation but unless it breaks OPEC's monopoly on oil the U.S. and its allies are still far from secure, warned former Central Intelligence Director James Woolsey.
As OPEC ministers met in Vienna this week it became clear that the cartel is now divided between those wanting to raise output, like Saudi Arabia, and those wanting to hold it and keep prices high.
The bulls trotted gingerly back into the stock market and, if they stick around on Friday, the market could avoid a sixth week of losses. Still, one market strategist cautioned: "It is not the beginning of a new bull market rally."
The “old” politics of Opec, which split the cartel and marred its influence in the oil market of the 1990s, have made an unexpected return after a decade-long absence. The FT reports.
OPEC's unusually high-profile public rift over whether to add oil to the world market should not drive oil prices higher or affect global crude supplies, energy experts say.
CNBC's Melissa Francis with details on OPEC's failure to reach a production decision.
A recovery in the US housing market and growth for the US economy are key to the global economic recovery, along with growth in China and further funding for Greece, Gary Baker, head of European equity strategy at BofA Merrill Lynch told CNBC.
So if OPEC trumpets a 1.5 million barrel rise in daily output, is this just an admission of what’s going on anyway or is this new oil? If it’s the latter, then that is meaningful. If it’s the former, don’t get too excited.
CNBC Senior Energy Correspondent Sharon Epperson shared her notes from the NYMEX Tuesday on an interesting divergence between Brent crude and WTI, ahead of OPEC's Wednesday meeting.
By all accounts — OPEC’s Monthly Report being one of them — the cartel called OPEC is producing around 29 MMbbl/d. OPEC calculates 2011 demand for its oil to average 29.9 MMbbl/d. Thus, in the simplest of terms, the Group needs to raise production by upwards of 1.0 MMbbl/d to balance demand.
The Organization of the Petroleum Exporting Countries plans to raise its oil production quota for the first time in several years, OPEC sources tell CNBC ahead of the cartel's meeting in Vienna on Wednesday.
With OPEC expected to increase production for the first time in years, the "Fast Money" traders reveal how they're trading the news.
Does OPEC have the power to reduce gas prices at the pump? Insight with Stephen Schork, The Schork Report; John Kilduff, Again Capital, and CNBC's Melissa Francis.