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  • *Russia's Sechin floats idea of oil output cuts. NEW YORK, Feb 10- Oil prices seesawed in choppy trade on Wednesday, with U.S. crude slipping and Brent paring gains as worries about a global supply glut offset data showing a surprise drop in U.S. crude stockpiles. OPEC data pointed to a larger oil supply surplus on the world market this year than previously thought, as...

  • *Russia's Sechin floats idea of oil output cuts. NEW YORK, Feb 10 (Reuters)- U.S. oil prices fell on Wednesday, reversing an early rally, and Brent also pared gains as worries about the global supply glut offset encouraging U.S. government data showing a surprise drop in domestic crude stockpiles. "We believe there's been short covering on the headline and we feel we...

  • NEW YORK, Feb 10- U.S. crude stockpiles fell unexpectedly last week as imports slumped, while gasoline inventories hit a record high for a second week, data from the Energy Information Administration showed on Wednesday. U.S. crude futures initially rose on the news, topping $29 a barrel, but quickly retreated, and was at $27.85, down 9 cents on the day by 11:03 a.m....

  • *Budget shortfall up to $30 bln if oil prices stay at $30. MOSCOW, Feb 10- Russia is running out of options to plug a yawning hole in its budget- and steps unthinkable before oil prices began to plunge 20 months ago are now being considered. It could face an additional shortfall of up to 2.5 trillion roubles this year if crude prices stay at around $30 per barrel, putting...

  • Oil cartel OPEC has cut its forecasts for how much its rival producers will produce in 2016, while the 12-member group ramps up its own output.

  • *Iran says open to cooperation with Saudi Arabia. LONDON, Feb 10- Oil rose towards $31 a barrel on Wednesday after four days of declines, supported by the prospect of OPEC and rival producers cooperating to tackle a supply glut that has sent prices to a 12- year low. Iran's oil minister said Tehran was ready to negotiate with Saudi Arabia and the Kremlin's oil tsar...

  • What's the outlook for the oil market?

    Edward Morse, managing director and global head of commodities at Citi, shares his views on oil, commodity prices and Chinese demand.

  • *Iran says open to cooperation with Saudi Arabia. SINGAPORE, Feb 10- Crude oil prices pushed higher on Wednesday after Iran said it was open to cooperation with Saudi Arabia, partly recovering from an 8 percent fall in the previous session on concerns over demand and weak equities. Prices were supported by comments from Iran's oil minister that Tehran is ready to...

  • A worker grabs a nozzle at a PTT gas station in Bangkok, Thailand, January 5, 2016.

    Oil prices rose sharply in Asian trade on Wednesday on glimmers of hope of a producer cut-back and after a steep sell-off overnight.

  • An oil pump jack in Russia

    Oil prices seesawed on Wednesday as worries about a global supply glut offset a surprise drop in U.S. crude stockpiles.

  • *Iran says open to cooperation with Saudi Arabia. SINGAPORE, Feb 10- Crude oil prices pushed higher on Wednesday after Iran said it was open to cooperation with Saudi Arabia, partly recovering from an 8 percent fall in the previous session led by concerns over demand and weak equities. Prices were supported by comments from Iran's oil minister that Tehran is ready...

  • *U.S. crude for March delivery was 47 cents higher at $28.41 a barrel by 0113 GMT. *The front-month Brent contract was 50 cents higher at $30.82 a barrel, after it had closed $2.56, or 7.8 percent, down on Tuesday. *Meanwhile, the International Energy Agency predicted the world will store unwanted oil for most of 2016 as declines in U.S. output take time and that OPEC is...

  • Iranian workers walk at a unit of South Pars Gas field in Asalouyeh Seaport, north of Persian Gulf, Iran November 19, 2015.

    Iran's oil minister said Tehran was ready to negotiate with Saudi Arabia over the conditions in oil markets, Iran's Press TV reported.

  • Oil Rollercoaster

    Oil plunged Tuesday, but what does the future hold for the commodity? Analysts weigh in.

  • A worker stands at a pipeline, watching a flare stack at the Saudi Aramco oil field complex facilities at Shaybah in the Rub' al Khali ('empty quarter') desert in Shaybah, Saudi Arabia.

    Here are the countries that are most resilient to the impact of oil prices—and those hit hardest.

  • Pisani: Oil plunge hits stocks Tuesday, 9 Feb 2016 | 3:01 PM ET
    Pisani: Oil plunge hits stocks

    CNBC's Bob Pisani looks at the reaction in energy stocks after oil settled near $28, and consumer stocks at new highs.

  • Oil prices will be worse before better: Analyst Tuesday, 9 Feb 2016 | 2:40 PM ET
    Oil prices will be worse before better: Analyst

    Darren Horowitz, Raymond James, predicts short term, oil prices may get worse and the dollar could be a headwind if it re-gains upward momentum.

  • Big drop in crude Tuesday, 9 Feb 2016 | 2:00 PM ET
    Big drop in crude

    CNBC's Jackie DeAngelis reports on crude's decline on the heels of the recent Energy Information Administration report.

  • Beware of energy stocks: Pro Tuesday, 9 Feb 2016 | 1:33 PM ET
    Beware of energy stocks: Pro

    Ben Pace, CIO at HPM Partners, and Intrepid Capital portfolio manager Mark Travis discuss where long-term investors can find value in a down market.

  • Oil 'has to go back' to $50 next 12-18 months: Pro Tuesday, 9 Feb 2016 | 1:01 PM ET
    Oil 'has to go back' to $50 next 12-18 months: Pro

    Nearly every oil company stock is lower again, after the IEA saying the risk of oil prices falling further has increased. This can be fixed through a small amount of demand, and supply discipline, explains Kris Kelley, Janus Capital Group's equity research analyst.