European markets provisionally closed higher on Thursday after being buoyed by corporate earnings.
OPEC Secretary General told CNBC the group's "credibility is at stake" as the oil producing cartel negotiates the implementation of a landmark deal.
Commodities are forecast to have a bumper year in 2017 with oil prices expected to rally to the mid $60s, according to analysts at Citigroup.
The oil market is "slowly but surely" reaching a balance as a result of the success of the OPEC production deal, the head of the oil industry and markets division at the International Energy Agency (IEA), told CNBC.
OPEC is poised to meet non-OPEC nations on Saturday with the hope that they will also agree to follow the cartel and cut supply.
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.
A Pimco managing director added his voice to the chorus of energy experts saying $50 per barrel is the magic number for crude oil on Wednesday.
Helima Croft, CNBC Contributor and Managing Director of Global Head of Commodity Strategy at RBC Capital Markets, and Jean-Francois Seznec, Atlantic Council Senior Fellow and Georgetown University professor, discuss Saudi Arabia's economic reform plans to diversify away from oil.
Crude oil prices tumbled as much as 5 percent on Monday after the Doha “no deal,” but staged a turnaround later in the session and traded higher on Tuesday.
Helima Croft, Managing Director and Global Head of Commodity Strategy at RBC Capital Markets, and John Kilduff, Partner at Again Capital LLC, discuss whether we'll see a deal coming out of the oil producers' meeting in Doha.
CNBC’s Jackie DeAngelis looks at the surge in oil prices.
Erin Gibbs of S&P Investment Advisory and Phillip Streible of RJO Futures discuss the oil trade with Brian Sullivan.
The CEO of one of Europe's biggest transportation and energy companies told CNBC that the collapse in energy prices was a boon for the region.
May the force be with oil of you
With oil breaking below $37 Tuesday morning, this is where technical analysts see support on the chart.
Nymex oil may have a prolonged sideways consolidation between $38 and $48 but charts suggest that, long-term, it has further to fall.
Retail investors appear to have doubled down on oil as prices for the commodity approach a six-year low.
A barge carrying around 1 million gallons of naptha burst into flames after a collision in the Houston shipping channel, NBC News reports.
Exxon Mobil reports quarterly earnings and revenue that handily topped analysts' expectations.
"We think we're close to a bottom in the oil field services cycle," Kurt Hallead of RBC Capital Markets said.