• Oil Supply Outside OPEC Set to Disappoint: IEA Thursday, 18 Jan 2007 | 5:15 AM ET

    Oil producers outside OPEC will pump less oil than expected this year, the International Energy Agency said on Thursday, increasing the burden on OPEC just as the exporter group is trimming supply.

  • Why Chavez Has Support in Venezuela Wednesday, 17 Jan 2007 | 12:48 PM ET
    Pres. Hugo Chavez of Venezuela

    We've been mentioning the price of oil and Venezuela's President Hugo Chavez in the same sentence in some previous posts. This is in light of his moves to nationalize some of his country's utilities. It might be worth a look to see why he's popular-- for the most part--in Venezuela. CNBC's Michelle Caruso-Cabrera is on assignment in Venezuela...

  • Pickens On CNBC: No Panic-Oil Prices Will Go Up Wednesday, 17 Jan 2007 | 9:47 AM ET

    He's Boone Pickens--he's CEO of the private equity firm BP Capital--and he's a major "player" when it comes to oil (he has an estimated worth of $2.7 billion). He called in to "Squawk Box" this morning to talk about the falling price of crude. A little background before we get to what Pickens said.

  • Saudi Oil Minister Says Oil Market Healthy Wednesday, 17 Jan 2007 | 4:46 AM ET

    Saudi Arabia's oil minister Ali al-Naimi said on Wednesday that there is no need to worry about oil prices because the market is healthy.

  • Nigerian oil minister Edmund Daukoru said on Tuesday OPEC should wait and see the effects of the February crude oil supply cuts before deciding on any deeper reductions.

  • Day Ahead: Earnings, OPEC and BP Safety Report Tuesday, 16 Jan 2007 | 8:22 AM ET

    Lots of corporate headlines are already getting attention ahead of the open. Stocks in the U.S. are lining up to open higher at this point, and earnings will be the big focus. After making gains yesterday, European stocks are mixed with a flattish performance, and Japanese stocks were little changed to the downside.

  • CNBC's Domm: A Very Busy Week Ahead Sunday, 14 Jan 2007 | 11:33 AM ET

    Financials and techs, two groups that pulled in the money last week, will be out in front of the news this week when earnings season is in full swing. Markets will also be watching key economic data, a parade of Fed speakers and whatever side show goes on when oil markets reopen, after last week's near six percent slide in crude.

  • Late Oil Rally Snaps Four-Day Losing Streak Friday, 12 Jan 2007 | 3:49 PM ET

    U.S. crude oil futures ended sharply higher on Friday, rising for the first time in a week as traders covered short positions ahead of a long holiday weekend.

  • OPEC to Consider Emergency Meeting on Oil Prices: WSJ Thursday, 11 Jan 2007 | 7:48 PM ET

    OPEC ministers will consider the need for an emergency meeting in response to the recent drop in oil prices, a report said Thursday.

  • CNBC's Schacknow: Our Day On Breaking News Desk Thursday, 14 Dec 2006 | 1:20 PM ET

    I Don’t Know, But I Know People Who Do: How does the breaking news desk know which news merits special coverage and which does not? A) I’m a genius. B) I rely on many very smart co-workers. The answer is: not A). All of which leads me to pay tribute to the many specialty producers who work here at CNBC. 

  • Analysts: OPEC Cuts Unnecessary, Even Unrealistic Thursday, 14 Dec 2006 | 12:22 PM ET

    Oil is up about a dollar today to $62.38. The increase comes on the heels of today’s announcement from OPEC that it will cut production by 500,000 barrels a day starting Feb. 1. The cartel has yet to fully implement the 1.2 million barrel cut it made back in October. Mark Gilman of the Benchmark Co. says that Saudi Arabia is dead set on a $60 floor for a barrel of crude. But the question remains as to whether the market will allow it or not.

  • OPEC Confirms Will Cut 500,000 Barrels a Day In February Thursday, 14 Dec 2006 | 12:18 PM ET

    OPEC confirmed it will leave oil production unchanged for now, but set the stage for a cut of 500,000 barrels a day, or 2%, in February.

  • CNBC's Domm: Market Outlook Thursday, 14 Dec 2006 | 8:08 AM ET

    U.S. stocks are heading lower this morning as oil prices climb on OPEC developments. Today's headlines from OPEC, brokerage profits, and takeover activity will all get attention but stocks are looking for direction as a year of strong gains begins to wind down. Asian stocks closed higher, with Japan at a seven month high on the weakening yen. European stocks are higher.

  • Today on cnbc.com Thursday, 14 Dec 2006 | 7:51 AM ET

    Our quote of the day comes from the late stage and film actress Tallulah Bankhead: "If I had my life to live again, I'd make the same mistakes, only sooner." There's no mistaking OPEC's latest move--as the oil organization seems to have agreed to cut production by some 500,000 barrels a day in February.

  • CNBC's Sharon Epperson: OPEC And Oil Dominate News Wednesday, 13 Dec 2006 | 4:42 PM ET

    It's all OPEC for the next 24 hours. But today on the floor of the New York Mercantile Exchange it was all about inventories. Crude prices rallied after a bullish inventory report from the U.S. Energy Department showed U.S. oil inventories slid by 4.3 million barrels, due to a large drop in crude imports.

  • Oil prices jumped on news that U.S. crude inventory fell a surprising 4.3 million barrels last week when  analysts were only looking for a 600,000 barrel decline.  OPEC appears willing to pull back from more oil output cuts.

  • OPEC: Cutting Oil Production Or Not? Wednesday, 13 Dec 2006 | 11:02 AM ET

    The Organization of Petroleum Exporting Countries (OPEC) meets tomorrow in Abuja, Nigeria. The cartel is sending mixed signals about its next move. Some ministers are pushing for an additional cut on top of the 1.2 million-barrel reduction made back in October. But still other ministers are urging moderation. Mark Haines had two energy analysts on “Squawk on the Street” this morning.....

  • CNBC's Domm: The Market Outlook Wednesday, 13 Dec 2006 | 8:00 AM ET

    U.S. stocks are taxiing towards a slightly higher opening today as airline takeover activity is set to give the transports a lift. Retail sales data for November could also give the market some direction and provide further clues to the consumer this holiday season. MERGERS AT THE GATE: Our Phil Lebeau is reporting on takeover talks...

  • Wednesday Highlights Wednesday, 13 Dec 2006 | 7:47 AM ET

    Energy. Media. International Investing. Look for interviews on those subjects in our look at the year ahead. Our guests today are Tom Petrie, Vice Chairman of Merrill Lynch, Audrey Kaplan of Rochdale Investment International and Brian Stelter of TVnewser. We’ll also continue our “7 For ‘07” series of reports on important sectors of the economy, featuring Bob Pisani on stocks and Julia Boorstin on media and entertainment

  • CNBC's Domm: Markets Preview Friday, 8 Dec 2006 | 8:12 AM ET

    It's all about the jobs report today. World stock markets trend flat to lower ahead of the report and U.S. stocks are mixed ahead of the opening. The dollar remains in a tight range and oil traded higher over night on expectations OPEC may limit production again when it meets next week.