GO
Loading...

OPEC

More

  • OPEC Summit to Be 'Quite a Sparky Meeting'   Thursday, 14 Jun 2012 | 2:10 AM ET
    OPEC Summit to Be 'Quite a Sparky Meeting'

    "People are being less concerned about sanctions against Iran," Richard Hulf, fund manager at Artemis Investment Management, told CNBC. However, they are more concerned about a slowdown in the economy, "the euro zone, the U.S. fiscal cliff towards the end of the year, general slowdown in industrial consumption, so the oil price has come down. So this sets a scene for quite a sparky meeting," he added.

  • US Gasoline Demand at 6 Year Low   Wednesday, 13 Jun 2012 | 7:42 PM ET
    US Gasoline Demand at 6 Year Low

    Edward Morse, Head of Commodities Research, Citi says that lots more driving taking place in the U.S. now than four months ago, but gasoline demand is still at the low end when compared over a six year period.

  • Enough Oil Supply in the Short-Term   Tuesday, 12 Jun 2012 | 6:40 PM ET
    Enough Oil Supply in the Short-Term

    Dominic Schnider, Head Commodity Research, UBS Wealth Management, UBS Wealth Management says there is enough oil supply in the short-term and that production actually needs to be cut by half a million barrels. But he expects oil prices to remain high at about $90.

  • Conflict, Uncertainty Could Delay OPEC Decision Tuesday, 12 Jun 2012 | 4:57 PM ET
    Al Naimi, Saudi Oil Minister

    A twenty-five percent plunge in oil prices might seem to make curbing the supply of crude a no-brainer for the world’s oil producers.  And yet it looks increasingly possible that the 161st ordinary meeting of OPEC in Vienna this week could end in a virtual stalemate

  • Will OPEC Pump More Oil Starting Thursday? Tuesday, 12 Jun 2012 | 10:06 AM ET
    OPEC Headquarters

    As the countdown draws to a close for the start of OPEC’s deliberations in Vienna on Thursday, two of its heavyweight members could once again clash over critical policies at a time when the cartel is struggling to maintain its influence.

  • Expect No Change to OPEC's Output Ceiling   Monday, 11 Jun 2012 | 6:44 PM ET
    Expect No Change to OPEC's Output Ceiling

    Tom Essaye, President, Kinsale Trading says there will be no change to OPEC's output ceiling.

  • Glencore Chief Defends High Executive Pay Friday, 8 Jun 2012 | 2:52 AM ET
    The headquarters of the Swiss commodities giant Glencore in Baar, Switzerland.

    Ivan Glasenberg, chief executive of Glencore, has launched a provocative defence of high pay for executives, arguing that substantial remuneration is required to secure entrepreneurial leaders, the Financial Times reports.

  • Exxon Will Stay Robust Despite Downturn: CEO Tuesday, 5 Jun 2012 | 8:36 AM ET
    oil_pump_2_200.jpg

    Exxon Mobil will continue to be robust and will maintain record levels of investment, valued at $27 billion in 2011, in the next couple of years despite the downturn in global oil demand and fluctuations in prices, Rex Tillerson, CEO of Exxon Mobil, told CNBC on Tuesday.

  • Oil Output Soars as Iraq Retools Sunday, 3 Jun 2012 | 10:22 AM ET
    Tawke oil field near the town of Zacho in Dohuk province about 250 miles north of Baghdad, Iraq.

    Despite sectarian bombings and political gridlock, Iraq’s crude-oil production is soaring, providing a singular bright spot for the nation’s future and relief for global oil markets as the West tightens sanctions on Iranian exports.

  • Commodities Tomorrow: Gold's Big 1-Day Gain   Thursday, 17 May 2012 | 4:00 PM ET
    Commodities Tomorrow: Gold's Big 1-Day Gain

    CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.

  • Which Oil Producers Are Making Money? Thursday, 10 May 2012 | 6:07 AM ET
    Algeria's oil minister, Chakib Khelil is the president of the Organization of Petroleum Exporting Countries (OPEC).

    The following is a list of oil prices needed for the nations to avoid having a budget deficit in 2008 and 2009 (as compiled by the IMF).

  • Commodities Tomorrow: Will Gold, Silver Rally Last?   Thursday, 26 Apr 2012 | 4:00 PM ET
    Commodities Tomorrow: Will Gold, Silver Rally Last?

    CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.

  • The World’s Biggest Oil Producers Wednesday, 25 Apr 2012 | 12:23 PM ET
    Given the pace of global growth, experts say crude oil prices are higher than they should be – largely the result of concern Iran might close the Strait of Hormuz in its showdown with the U.S. and E.U. over the expansion of its nuclear program.Like Iran, some of the world’s other biggest oil producers can be subject to unpredictable and unstable political events, causing price shocks. Such was the case during the 2011 civil unrest in Libya. At the time, Libya was the 17th largest oil-producing c

    Big movements in the price of oil can have significant effects on the economy, and countries with the most oil within their borders are set to benefit, as demand for crude continues to rise.

  • Commodities Tomorrow: FOMC & Gold   Tuesday, 24 Apr 2012 | 4:00 PM ET
    Commodities Tomorrow: FOMC & Gold

    CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.

  • Oil Supply Tightness Coming to an End: IEA Thursday, 12 Apr 2012 | 4:35 AM ET
    oil_barrells_ap_200.jpg

    The tale of ever-tightening oil inventories and reduced supply appears to be coming to an end, the International Energy Agency said on Thursday.

  • Gasoline's Economic Impact   Friday, 6 Apr 2012 | 8:12 AM ET
    Gasoline's Economic Impact

    John Eichberger, National Association of Convenience Stores, looks at gas prices and the sales increases occurring inside stores. That seems to indicate prices at the pump are not having a big impact on spending, at least inside convenience stores. With Rebecca Patterson, JPMorgan Asset Management, Institutional. Also, a potential jump in the price of vanilla ice cream.

  • Commodities Tomorrow: Copper Leads Metal Rally   Monday, 2 Apr 2012 | 4:00 PM ET
    Commodities Tomorrow: Copper Leads Metal Rally

    CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.

  • oil_barrells_ap_200.jpg

    Societe Generale raised its 2012 forecast for Brent crude to $127 a barrel from $110 prior, citing lower global stockpiles and tighter OPEC spare capacity.

  • oil_pump_2_200.jpg

    New information suggests that Iran’s oil production may not have fallen as much as other industry reports have speculated. The latest publication of data by the Joint Organizations Data Initiative (JODI) published on Sunday showed Iran produced 3.72 million barrels per day in January, marking the highest output since December 2008.

  • Asia Seen Driving Oil Demand in 2012: IEA Wednesday, 14 Mar 2012 | 6:48 AM ET
    oil_barrells_ap_200.jpg

    The Asia region is expected to drive demand for oil over the course of the year, according to the latest International Energy Agency report.