Construction company Saudi Binladin, founded by Osama bin Laden's father, reportedly laid off 50,000 staff, as cheap oil spurs government spending cuts. » Read More
*OPEC output at near record high in April- Reuters survey. *Technicals show resistance if prices rise above $50. U.S. crude futures closed 11 cents lower at $45.92 a barrel, after hitting a year-to-date high at $46.78.
CNBC's Jackie DeAngelis reports just how far oil prices have come this month.
Paul Hickey, Bespoke Investment Group Co-Founder, and Jeff Knight, Columbia Threadneedle Investments Global Head of Investment Solutions and Asset Allocation, discuss the current state of the markets going into May.
Stewart Glickman, S&P Global Market Intelligence Energy Equity Analyst, and Kyle Cooper, ION Energy Group Consultant, discuss the oil market and big players in the space.
April 29- Spot U.S. crude oil futures' discount to the next trading month, known as contango, hit its smallest levels since January on Friday, reducing the advantages of storing oil in the United States for later delivery. The discount narrowed to 74 cents a barrel earlier in the session to its smallest since Jan. 11. "To a certain degree, this reduces the economics of...
CNBC's Michelle Caruso-Cabrera reports from Iran about the country's push to diversify its economy away oil and towards tourism and exports.
CNBC's Dominic Chu reports the weekly Baker Hughes U.S. oil and gas rig count data.
Discussing Exxon Mobil and Chevron earnings, after Exxon reported a quarterly earnings and revenue beat, and Chevron reported a mixed report, with Pavel Molchanov, Raymond James.
CNBC's Michelle Caruso-Cabrera reports on Iran's oil buyers.
Billionaire investor Warren Buffett is offering little in the way of reassurance about "very slow" economic growth.
*OPEC output near record high in April. Brent futures were trading at $48.26 a barrel at 1351 GMT, up 12 cents from their last close. "The issue is that we haven't seen price rallies... correlate with fundamentals," said Hamza Khan, senior commodity strategist at ING.
A number of crude exporters have similar plans as the Saudis to diversify their economy.
April 29- Imperial Oil Ltd, Canada's integrated oil producer and refiner, reported a slightly bigger-than-expected quarterly loss, hurt by continued weakness in crude prices. Imperial's net loss was C $101 million, or 12 Canadian cents per share, in the first quarter ended March 31, compared with net income of C $421 million, or 50 Canadian cents per share, a year...
Anish Kapadia, Tudor, Pickering, Holt & Company, breaks down Exxon's quarterly numbers, which posted EPS of $0.43 on revenues of $48.707 billion, and shares his outlook on the company.
By Libby George and Karolin Schaps. LONDON, April 29- Brent crude was heading for its biggest monthly rise in seven years on Friday, touching fresh 2016 highs as a weak dollar and falling U.S. production tempered concerns about a lingering excess of physical oil. Brent futures were trading at $48.26 a barrel at 1211 GMT, up 12 cents from their last close.
The oil giant reported a bigger-than-expected quarterly earnings loss but beat estimates on revenue.
Raymond James analyst Pavel Molchanov says the oil giant is in an unrecognizable state right now.
April 29- Imperial Oil Ltd, Canada's integrated oil producer and refiner, reported a quarterly loss, compared with a year ago profit as lower global crude prices continue to hurt its results. The company's net loss was C $101 million, or 12 Canadian cents per share, in the first-quarter ended March 31, compared with a net income of C $421 million, or 50 Canadian cents...
*Venezuela output to fall, state may face default- analysts. LONDON, April 29- Brent crude reached fresh 2016 highs on Friday and was poised for its biggest monthly gain in seven years as a weak dollar and falling U.S. production tempered concerns about a lingering excess of physical oil. Brent futures were trading at $48.35 a barrel at 0949 GMT, up 21 cents from their...
Exxon and Chevron report before the bell but can the top two oil producers in the U.S. ride out the downturn in oil as the number of puts on the stock - betting the price will go down - rises.