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OPEC

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  • Investors--More Than OPEC--Determining Price Of Oil Wednesday, 9 Apr 2008 | 1:54 PM ET

    With oil prices topping $112/barrel and some analysts predicting the next stop to be $120, will OPEC finally step in and add crude to the market to tame prices? I doubt it will happen.

  • OPEC: Weak Dollar, Not Supply, Keeps Prices High Tuesday, 8 Apr 2008 | 9:18 AM ET

    The weak dollar is the main factor keeping prices at high levels, not the supply of oil, and that situation is likely to continue, current OPEC president Chakib Khelil, who is also Algerian Oil Minister, said on Tuesday.

  • Top European Videos of the First Quarter Tuesday, 1 Apr 2008 | 8:22 AM ET

    Investors hope the second quarter will be better than the first, when markets went on a rollercoaster of writedowns, trading scandals and record oil prices. Here are CNBC Europe's best videos of the first quarter.

  • Venezuela's Chavez: We Don't Want Pricier Oil Thursday, 27 Mar 2008 | 4:58 PM ET

    Venezuela is not interested in seeing oil prices rise further and is pushing to stabilize the market, President Hugo Chavez said after visiting the site of a Brazilian refinery being built to process Venezuelan crude.

  • OPEC: Output Higher than Demand for Oil Friday, 14 Mar 2008 | 10:44 AM ET

    OPEC is pumping more than enough oil to keep consumers satisfied and a potential U.S. recession could mean lower demand for its crude, the group said on Friday.

  • IEA Predicts Slower Oil Demand for 2008 Tuesday, 11 Mar 2008 | 6:44 AM ET

    World oil demand will be less than expected this year because of slower economic growth in industrialised countries and record prices, the International Energy Agency said on Tuesday.

  • European Stocks Break 5-Day Losing Streak Wednesday, 5 Mar 2008 | 12:29 PM ET

    European stocks ended firmly higher Wednesday, breaking a five-day losing streak on the back of optimism regarding the U.S. economy as data showed a smaller-than-expected contraction in the services sector.

  • OPEC Won't Raise Output, Cites US 'Mismanagement' Wednesday, 5 Mar 2008 | 11:06 AM ET

    OPEC said Wednesday it decided not to put more oil on the global market despite near record-high prices for crude, blaming the U.S. for economic "mismanagement" it said was having a worldwide effect.

  • OPEC Shrugs and Holds Output Steady Wednesday, 5 Mar 2008 | 8:32 AM ET

    OPEC ministers on Wednesday agreed to keep oil output steady and said record high prices had  been driven by factors that were beyond their control.

  • No Barrels For You! Tuesday, 4 Mar 2008 | 6:27 PM ET

    Even with oil at $100, OPEC is set to rebuff calls to raise production outputs in its meeting Wednesday. What could that mean for surging commodity prices?

  • You'd expect oil prices to take a bit of a breather after yesterday's record-breaking run that took NYNEX crude oil futures to an all-time high of $103.95/barrel intraday, surpassing the inflation-adjusted record reached more than a quarter century ago.

  • OPEC Set to Hold Output Steady, But on Alert Tuesday, 4 Mar 2008 | 5:21 AM ET

    OPEC ministers gathered in Vienna are inclined to keep supplies steady, but are on alert for signs record high oil and recession will erode demand.

  • OPEC Unlikely to Be Moved by $100 Oil Monday, 3 Mar 2008 | 9:00 AM ET
    Oil Pump

    Oil prices of more than $100 a barrel are unlikely to convince OPEC ministers meeting in Vienna this week to raise output, which they say is more than adequate.

  • OMV Quarterly Clean EBIT Rise 23%, Sees Robust 2008 Tuesday, 26 Feb 2008 | 6:29 AM ET

    Austrian oil and gas group OMV reported on Tuesday a forecast-beating 23 percent increase in clean operating earnings in the fourth quarter on favourable crude prices and improved refining margins.

  • OPEC to Keep Output Steady as US Slows: President Tuesday, 26 Feb 2008 | 6:10 AM ET

    A combination of economic slowdown in the United States and a seasonal fall in consumption will hit oil demand and OPEC will not increase output when it meets next week, the producer group's president said on Tuesday.

  • For Oil, $100 May Be Just a Pit Stop Along the Way Wednesday, 20 Feb 2008 | 1:53 PM ET
    Locals ride a canoe past oil instalations belonging to the Mobil oil company in Bonny Island, Nigeria, Thursday, Aug. 17, 2006. Militant groups using kidnappings and sabotage attacks to press their demands for a share of the region's oil wealth, which they accuse the central government of stealing, have made southern Nigeria a volatile place. (AP Photo/George Osodi)

    Crude passed the century mark Tuesday and closed above it for the first time, setting off speculation about just how high prices could go and where a realistic level of support may lie.

  • IEA Urges OPEC to at Least Maintain Current Output Wednesday, 20 Feb 2008 | 7:40 AM ET
    Oil Refinery

    The International Energy Agency (IEA) wants OPEC at its next meeting to keep oil production levels unchanged, at the very least, to rebuild low crude supplies, an analyst with the agency said on Wednesday.

  • Kuwait says OPEC to Discuss Output Hike in March Monday, 4 Feb 2008 | 4:26 AM ET

    Kuwait's acting oil minister said OPEC would discuss increasing crude oil production levels when its ministers meet in March, the official Kuwait News Agency reported on Monday.

  • OPEC Maintains Oil Output, May Cut in March Friday, 1 Feb 2008 | 9:22 AM ET

    OPEC on Friday kept oil supplies unchanged and began a debate about whether or not to deploy production curbs in March to defend prices against a drop in demand should recession bite in the United States.

  • Iraqi Oil Minister Sees No Output Change from OPEC Thursday, 31 Jan 2008 | 4:25 AM ET

    Iraq's oil minister Hussain al-Shahristani said on Thursday there was no sign of any shortage of oil in international markets and he did not expect OPEC to change its output levels at a meeting this week.