The energy sector was the best performing group in the S&P 500 on Wednesday. » Read More
By: Sri Jegarajah
Kicking a production freeze deal down the road was probably the best oil bulls could hope, strategists told CNBC. » Read More
Longstanding tensions between Saudi Arabia and Iran will hold OPEC back from an oil production freeze in the near term, analysts said.
The OPEC meeting in Algeria may not have resulted in a resolution as of Tuesday, but at least one person is optimistic.
The slump in energy prices means oil-producing countries face a “clear need” to diversify their economies and improve competitiveness, WEF says.
This news comes a week after Icahn more than halved his stake in the natural gas producer.
The S&P 500 energy sector shed more than about half a percent on Tuesday amid concerns about a supply glut.
Rice Energy shares slid by more than 7 percent after buying Vantage Energy for about $2.7 billion, including debt.
For the Saudis to cut output by a bit - that's like praising your child for eating 19 cakes in one sitting instead of 20.
Goldman Sachs and others are looking beyond this week's meeting of oil producers, and focusing on the return of crude from Iraq, Libya and Nigeria.
OPEC producers could have a big impact on prices if they agreed to a production freeze, but it's unlikely they'll get it done at this week's meeting, according to a new CNBC Oil Survey.
The average price of gasoline in the U.S. has risen four cents over the past two weeks to $2.25 a gallon for regular grade.
Oil producers are unlikely to settle on any kind of deal in Algeria this week, postponing hopes for an end to the current supply glut.
The rhetoric leading up to next week's OPEC meeting is signaling the possibility of a freeze in oil production, RBC's Helima Croft says.
Rising prices embolden creditors and shareholders to challenge drillers' restructuring plans, putting a bankruptcy exit at risk.
Prospects for Brent crude rising above $50 a barrel in 2017 are less than 50/50, says oil investment advisor Nansen G. Saleri. Here's why.
A touted oil production freeze by Saudi Arabia might not be enough to boost crude prices, even if it goes ahead, the Russian finance minister told CNBC.
Saudi Arabia has offered to lower its own oil production if Iran agrees to cap its output this year.
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