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  • Beware, Oil Could Tumble Even Further: Pro Friday, 22 Jun 2012 | 5:23 AM ET

    Oil fell to its lowest levels in a year and a half on Thursday, the outlook for oil remains weak and sanctions imposed on Iran are likely to make matters worse, Dan Yergin, co-founder and chairman of energy research consultancy Cambridge Energy Research Associates (IHS CERA) told CNBC.

  • Oil refinery and petrochemical complex, Mahshahr, Iran,

    In ten days on July 1st a sweeping European Union ban on Iranian imports will go into effect in response to the Islamic Republic’s burgeoning nuclear program. In addition, and just as importantly, EU based insurance firms will no longer be able to insure any ship carrying Iranian oil.

  • Istanbul's Arasta Bazaar

    Though Turkey was one of several countries to receive a temporary waiver from U.S. sanctions, it is looking to Saudi Arabia and Libya for crude oil, as well as a number of other energy sources.

  • OPEC Keeps Oil Production Levels Unchanged Thursday, 14 Jun 2012 | 11:18 AM ET
    OPEC Keeps Oil Production Levels Unchanged

    CNBC's Kelly Evans reports OPEC leaders agree to keep its oil production ceiling unchanged.

  • Ali Al-Naimi, Saudi Oil Minister

    Ali al-Naimi, Saudi Arabia’s highly influential oil minister is once again the center of attention at OPEC's meeting this week, with reporters hanging on every word from a man some describe as the ‘Central Banker of Oil’.

  • 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.

  • The Syncrude oil sands extraction facility near the town of Fort McMurray in Alberta Province, Canada.

    Benchmark oil prices may trade within a tight range this week as participants wait for the outcome of a repeat Greek election on June 17 and the Organization of the Petroleum Exporting Countries (OPEC) meeting to decide production policy on Thursday in Vienna, according to CNBC's weekly survey of oil market sentiment.

  • 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.

  • oil-pump-4_200.jpg

    Benchmark oil prices will continue sliding to fresh lows this week unless policymakers in Europe, China, and the U.S. “put a floor” under the market and do more to stabilize economic growth, according to CNBC's weekly survey of oil market sentiment.

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

    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-splash_200.jpg

    Benchmark oil prices will continue sliding to fresh lows this week unless policymakers in Europe, China, and the U.S. “put a floor” under the market and do more to stabilize economic growth, according to CNBC's weekly survey of oil market sentiment.

  • 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.

  • Researchers Find Clues in Malware Thursday, 31 May 2012 | 4:24 AM ET

    Researchers at Kaspersky Lab, which first reported the virus Monday, believe Flame was written by a different group of programmers from those who had created other malware directed at computers in the Middle East, particularly those in Iran, the New York Times reports.

  • Roubini and Bremmer: Russia Is No ‘BRIC’ Wednesday, 30 May 2012 | 6:10 AM ET

    Russia’s typical out-of-step response to global events – the latest its refusal to condemn the Assad regime in Syria – show its increasing insignificance on the world stage, Nouriel Roubini, chairman of Roubini Global Economics and Ian Bremmer, president of Eurasia Group, argue in an op-ed in the Financial Times

  • Oil May Slip Towards Mid-$80s as Europe Weighs: Survey Monday, 28 May 2012 | 10:44 PM ET

    Oil prices will likely extend losses for a fifth-straight week as fears about a Greek exit from the euro zone and Spain's banking system continue to trigger outflows from riskier assets, according to CNBC's weekly survey of oil market sentiment.

  • Oil Falls on Iran's Pledge to Allow Inspections Tuesday, 22 May 2012 | 5:52 PM ET

    Crude oil prices fell Tuesday, driven by adequate supply and indications that some progress is being made with Iran on the eve of six-nation talks in Baghdad.

  • A Petroleos Mexicanos (PEMEX) oil rig near the shores of the state of Campeche, Mexico.

    Oil prices are set to extend declines as uncertainty persists over the euro zone's future, growth slows in China and the dollar rises. But international talks in Baghdad scheduled on Wednesday around Iran's nuclear program may contain losses if the country's leadership resists pressure to curb uranium enrichment, CNBC's weekly survey showed.

  • Oil Rig

    Benchmark crude oil prices will extend losses this week as risk aversion stoked by lingering political uncertainty in Europe continues to haunt markets, CNBC's weekly survey of market sentiment showed.