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  • Oil jumps on expected extension of Iran sanctions

    WTI crude oil rises to a session high after the White House says it expects President Barack Obama to sign a bill extending Iran sanctions. CNBC's Seema Mody reports.

  • Dec 1- Shamoon, the destructive computer virus that four years ago crippled tens of thousands of computers at Middle Eastern energy companies, was used two weeks ago to attack computers in Saudi Arabia, according to several U.S. cyber security firms. Victims included the General Authority of Civil Aviation, the Saudi agency that runs airports, where the attack...

  • While OPEC may have been hibernating, the decision by Saudi Arabia, OPEC's leading member, to let oil prices crash was always a pragmatic one, not an ideological one. OPEC has sent stark reminder that when circumstances change, it can change too-- and it would be foolish to write off OPEC as irrelevant. Moreover, most other OPEC countries, as well non- OPEC ones like...

  • While OPEC may have been hibernating, the decision by Saudi Arabia, OPEC's leading member, to let oil prices crash was always a pragmatic one, not an ideological one. OPEC has sent stark reminder that when circumstances change, it can change too-- and it would be foolish to write off OPEC as irrelevant. Moreover, most other OPEC countries, as well non- OPEC ones like...

  • While OPEC may have been hibernating, the decision by Saudi Arabia, OPEC's leading member, to let oil prices crash was always a pragmatic one, not an ideological one. OPEC has sent stark reminder that when circumstances change, it can change too-- and it would be foolish to write off OPEC as irrelevant. Moreover, most other OPEC countries, as well non- OPEC ones like...

  • While OPEC may have been hibernating, the decision by Saudi Arabia, OPEC's leading member, to let oil prices crash was always a pragmatic one, not an ideological one. OPEC has sent stark reminder that when circumstances change, it can change too-- and it would be foolish to write off OPEC as irrelevant. Moreover, most other OPEC countries, as well non- OPEC ones like...

  • While OPEC may have been hibernating, the decision by Saudi Arabia, OPEC's leading member, to let oil prices crash was always a pragmatic one, not an ideological one. OPEC has sent stark reminder that when circumstances change, it can change too-- and it would be foolish to write off OPEC as irrelevant. Moreover, most other OPEC countries, as well non- OPEC ones like...

  • While OPEC may have been hibernating, the decision by Saudi Arabia, OPEC's leading member, to let oil prices crash was always a pragmatic one, not an ideological one. OPEC has sent stark reminder that when circumstances change, it can change too-- and it would be foolish to write off OPEC as irrelevant. Moreover, most other OPEC countries, as well non- OPEC ones like...

  • While OPEC may have been hibernating, the decision by Saudi Arabia, OPEC's leading member, to let oil prices crash was always a pragmatic one, not an ideological one. OPEC has sent stark reminder that when circumstances change, it can change too-- and it would be foolish to write off OPEC as irrelevant. Moreover, most other OPEC countries, as well non- OPEC ones like...

  • While OPEC may have been hibernating, the decision by Saudi Arabia, OPEC's leading member, to let oil prices crash was always a pragmatic one, not an ideological one. OPEC has sent stark reminder that when circumstances change, it can change too-- and it would be foolish to write off OPEC as irrelevant. Moreover, most other OPEC countries, as well non- OPEC ones like...

  • While OPEC may have been hibernating, the decision by Saudi Arabia, OPEC's leading member, to let oil prices crash was always a pragmatic one, not an ideological one. OPEC has sent stark reminder that when circumstances change, it can change too-- and it would be foolish to write off OPEC as irrelevant. Moreover, most other OPEC countries, as well non- OPEC ones like...

  • VIENNA, Dec 1- Russian President Vladmir Putin played a crucial role in helping OPEC rivals Iran and Saudi Arabia set aside differences to forge the cartel's first deal with non-OPEC Russia in 15 years. Interventions ahead of Wednesday's OPEC meeting came at key moments from Putin, Saudi Deputy Crown Prince Mohammed bin Salman and Iran's Supreme Leader...

  • Dec 1- A version of Shamoon, the destructive computer virus that four years ago crippled tens of thousands of computers at Middle Eastern energy companies, was used two weeks ago to attack computers in Saudi Arabia, according to U.S. security firms. Saudi Arabia confirmed on Thursday that hackers had launched a virus attack on computers in government bodies and...

  • TEHRAN, Iran— Iran's President Hassan Rouhani on Thursday welcomed an OPEC deal that cut the oil cartel's output to push up crude prices. Iran had initially been hesitant to cut its oil production. Iran's arch-rival Saudi Arabia agreed to the largest production cuts, chopping nearly half a million barrels from its current 10.5- million-barrel daily.

  • OPEC deal all the market wanted and more

    Iain Reid, head of European oil and gas research at Macquarie, says that oil prices are now looking far more positive for 2017.

  • VIENNA, Nov 30- OPEC agreed on Wednesday its first oil output cuts since 2008 after Saudi Arabia accepted "a big hit" on its production and dropped its demand on arch-rival Iran to slash output. "OPEC has proved to the sceptics that it is not dead. The move will speed up market rebalancing and erosion of the global oil glut, "said OPEC watcher Amrita Sen from consultancy...

  • Indonesia suspends OPEC- membership after recently rejoining. VIENNA, Dec 1- OPEC has agreed its first oil output cuts since 2008 after Saudi Arabia accepted "a big hit" on its production and dropped its demand on arch-rival Iran to slash output, pushing up crude prices by around 10 percent. "OPEC has proved to the sceptics that it is not dead.

  • It's been a tough year for OPEC economies

    Low oil prices have hit OPEC economies particularly hard in the past year but the latest output cut could bring some relief.

  • *OPEC agrees first output cut since 2008. *OPEC to cut production to 32.5 million bpd. Iraq, OPEC's second largest producer which had previously resisted cuts, providing a hurdle to a deal, agreed to reduce output by 200,000 bpd to 4.351 million bpd.

  • *OPEC agrees first output cut since 2008. *OPEC to cut production to 32.5 million bpd. Iraq, OPEC's second largest producer which had previously resisted cuts, providing a hurdle to an agreement, agreed to reduce output by 200,000 bpd to 4.351 million bpd.