GO
Loading...

OPEC

More

  • Schork: The Russians Are Coming Monday, 16 Mar 2009 | 11:07 AM ET
    OPEC

    Mr. Sechin proposed the establishment a new oil and refined products trading system and for a move to a multicurrency basket for payments of oil. This would appear to be a direct threat to the NYMEX and ICE franchises, writes Stephen Schork.

  • Schork: Keep An Eye On The Forward Curve Monday, 16 Mar 2009 | 8:58 AM ET

    The implication of a commodity market in contango is that demand, relative to supply in the spot market is weak. As such, it makes sense for me to buy oil today and store it, writes Stephen Schork.

  • Wondering if Crude Could Fall Even More Tuesday, 10 Mar 2009 | 9:52 AM ET

    A growing chorus of oil analysts and economists see troubling conditions in the oil market that could still push prices down sharply — perhaps to as low as $20 a barrel, the New York Times reports.

  • OPEC Should Cut Oil Supply if Demand Slow: Iraq Tuesday, 17 Feb 2009 | 5:47 AM ET

    OPEC should look to reduce oil supply further if demand is insufficient to absorb supplies, Iraq's oil minister said on Tuesday.

  • OPEC States Struggle to Pump Less Yet Keep Spending Friday, 13 Feb 2009 | 10:53 AM ET

    Uncertainty about how far world fuel demand and oil prices will fall has made it harder than ever for OPEC members to agree on how to balance group output policy against the divergent needs of their individual budgets.

  • OPEC Cuts '09 World Oil Demand Forecast—Again Friday, 13 Feb 2009 | 10:05 AM ET

    World oil demand will contract more sharply than expected this year due to the economic crisis, OPEC said on Friday, an outlook that may bolster the case for further supply cuts.

  • Pros Say: Darwinian Pain Good For Strong Companies Friday, 19 Dec 2008 | 12:57 PM ET

    On Friday, the auto bailout was announced: General Motors and Chrysler will get up to $17.4 billion in short-term loans from the U.S. in return for deep concessions. Treasury boss Hank Paulson reversed himself, asking for the second half of the TARP fund. Who gets bailed out next — and where does it end? Strategists told CNBC the bailout is going to make things worse; but one airline CEO sees a healthy Darwinian process.

  • Pros Say: Oil Will Take Stocks to Heaven Thursday, 18 Dec 2008 | 2:19 PM ET

    Thursday: U.S. jobless claims eased from a 26-year peak but still showed weakness in the economy. After the Federal Reserve's moves this week, homeowners are scrambling to refinance; the dollar is sliding against the euro. And the second half of the $700 billion TARP bailout fund looks likely to go toward foreclosure relief and economic stimulus. CNBC heard from experts who say crude oil prices are finally correct — and oil, stocks and gold are going to soar.

  • What Is Oil Telling Us? Wednesday, 17 Dec 2008 | 6:02 PM ET

    Has OPEC become irrelevant to the commodities market?

  • Pros Say: H1 Will Be 'Horrific' — But Fed Isn't Done Tuesday, 16 Dec 2008 | 6:17 PM ET

    Some of the bad news Tuesday was "less worse" than many feared: Goldman Sachs reported its first quarterly loss since going public — but the $2.1 billion loss was much narrower than many had feared and Goldman shares rose as much as 11 percent. Stocks soared on the Federal Reserve rate-cut decision and options trading looks bullish on Boeing. CNBC heard from experts who predict a massive OPEC cut and more Fed moves to come.

  • OPEC And Falling Prices: Is $25 Oil Next? Tuesday, 16 Dec 2008 | 4:32 PM ET

    Remember oil prices fell 25% in the week after the Nov. 29 sideline meeting OPEC members held in Cairowhere they decided not to really do anything and the market had been waiting for some kind of announcement. That took prices from $56 to $40/barrel.

  • OPEC President Predicts 'Significant' Output Cuts Monday, 8 Dec 2008 | 10:22 AM ET

    Oil markets should brace for a surprise decision on output cuts when OPEC meets Dec. 17, the cartel's president said Saturday, suggesting that reductions could be deeper than expected.

  • Oil Likely to Remain at $50, But Don't Celebrate Yet Wednesday, 3 Dec 2008 | 10:09 AM ET

    Oil prices are expected to stay around $50 a barrel through next year, but that may not give much of a boost to consumer spending, the economy or stocks.

  • Oil Settles Below $60 as Economic Gloom Darkens Tuesday, 11 Nov 2008 | 3:18 PM ET
    Oil fields in Kirkuk.

    Oil prices tumbled around 5 percent on Tuesday as the deepening global economic crisis dragged down markets and raised expectations energy demand will slow further.

  • Oil Closes Above $62 on China Stimulus, Saudi Cuts Monday, 10 Nov 2008 | 3:22 PM ET
    Oil tanker

    Oil prices rose on Monday as Saudi Arabia's move to cut supplies and China's launch of a $600 billion economic stimulus plan aided market volatility.

  • Top oil exporter Saudi Arabia provided the most visible evidence yet of adhering to OPEC's deal to curb output by telling refiners in Asia that it would cut December supplies by 5 percent, term lifters said on Monday.

  • Qatar Oil Minister: Oil Price Should Stay Above $70 Monday, 10 Nov 2008 | 6:17 AM ET

    Oil should be above $70 a barrel to encourage investment in increased production capacity and avoid creating future supply crises, Qatar's oil minister said on Monday.

  • Oil Settles Above $70 After Saudi Cuts Supplies Tuesday, 4 Nov 2008 | 2:52 PM ET

    Oil prices jumped more than 10 percent on Tuesday on signs Saudi Arabia had made substantial cuts in its crude exports and as global financial markets rallied.

  • Saudi Makes Significant Oil Cuts to Some Buyers Tuesday, 4 Nov 2008 | 7:28 AM ET

    Top oil exporter Saudi Arabia has already cut significantly crude supplies to some of its customers, industry sources said on Tuesday, quelling doubts OPEC would stick to its latest output deal.

  • OPEC to Bail Out Oil? Thursday, 23 Oct 2008 | 6:31 PM ET

    Oil traders are nervously keeping an ear to the ground for the latest word from OPEC.