Oil exporters in the Middle East will see their budget deficits shrink as austerity, taxes and stable oil prices begin to take effect, the IMF told CNBC.
IMF Director of the Middle East and Central Asia Department Jihad Azour takes a look at where the oil price is heading, with comment on OPEC's future production strategy.
TOKYO, May 2- Oil prices edged down on Tuesday, as a recovery in Libyan output and rising U.S. supplies raised worries that OPEC- led production cuts may not significantly tighten a bloated market. London Brent crude for July delivery was down 6 cents, or 0.1 percent, at $51.46 by 0227 GMT, after settling down 53 cents on Monday. The Organization of the Petroleum...
Rising U.S. output continues to hurt oil prices, notes Vandana Hari of Vanda Insights.
Oil futures gave up gains on Tuesday as concerns about stubbornly high global crude stockpiles offset news of Russian production declines.
TOKYO, May 2- Oil prices edged down on Tuesday, as a recovery in Libyan output and rising U.S. supplies raised worries that OPEC- led production cuts may not significantly tighten a bloated market. London Brent crude for July delivery was down 7 cents, or 0.1 percent, at $51.45 by 0021 GMT, after settling down 53 cents on Monday. The Organization of the Petroleum...
*Canadian dollar at C $1.3674, or 73.13 U.S. cents. TORONTO, May 1- The Canadian dollar weakened on Monday against its U.S. counterpart as oil prices fell and investors braced for an interest rate decision midweek from the U.S. trading at C $1.3674 to the greenback, or 73.13 U.S. cents, down from Friday's official close of at C $1.3650, or 73.26 U.S. cents.
Chevron CEO John Watson said the oil industry needs contributions from many sources beyond U.S. shale to meet future demand growth.
Bank shares rebound after Trump discusses breaking up the big banks.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.
After two straight weeks of losses, U.S. crude futures are set to drop, yet again.
CNBC's Eamon Javers reports that White House Press Secretary Sean Spicer is clarifying comments made by President Donald Trump about potentially increasing the gas tax in order to fund infrastructure projects.
Chevron CEO John Watson speaks with CNBC's Brian Sullivan on the US shale boom and how US energy producers are faring against OPEC.
Chevron CEO John Watson speaks with CNBC's Brian Sullivan on whether he'd support the White House increasing the gas tax to fund infrastructure projects.
Port of Corpus Christi CEO John LaRue discusses the new petrochemical plant venture at the Texas port and how it will effect the U.S. economy and energy sector.
President Donald Trump claims truckers would support a higher gas tax "if we earmarked money toward the highways."
A historical correlation between US oil prices and GDP data bodes ill for West Texas Intermediate futures this week.
Even with a fractious OPEC holding firm on production cuts, oil prices and energy stocks can't go higher. Why?
Home Capital Group Inc, Canada's biggest non-bank. barrel as rising oil output and drilling in the United States countered Organization of the Petroleum Exporting Countries-led production cuts. Oil is one of Canada's major exports.
Russia has launched its biggest military build-up in the Arctic since the fall of the Soviet Union, according to NBC News.