A slump in oil below $50 a barrel—a level it has held above for most of the past decade—has raised the prospect of a new era of lower prices.» Read More
With a lot more information now stored in the cloud, energy companies need to invest more to safeguard these valuable materials, says John Licata, founder & chief energy strategist at Blue Phoenix.
Johannes Benini, founder & managing director of JBC Energy, explains why it's too early to tell whether Saudi Arabia's strategy of maintaining its oil production levels is working.
NEW YORK, June 3- A sudden wave of sell orders early on Wednesday, followed by a bout of buying a couple of hours later whipsawed U.S. crude oil prices, puzzling even veteran traders used to big gyrations in the run-up to an OPEC meeting. While some traders blamed a high frequency algorithmic trade for the move, most agreed it reflected a jumpy market on rising concerns...
CNBC's Bertha Coombs discusses the day's activity in the commodities markets. Still too much supply with no big production cut in sight.
The French bank increased its average Brent price forecast by $5 to $65 per barrel in the third quarter of 2015. It left its fourth quarter and 2016 outlooks unchanged at $65 per barrel and $65, respectively. SocGen saw average WTI prices at $60 per barrel in the third quarter of 2015, an upward revision of $5 compared to its previous outlook, and $60 in the fourth...
Peter Tuz, Chase Investment Counsel, and Sandy Lincoln BMO Asset Management U.S.
Discussing his economic and employment forecast for the year, with Richard Clarida, PIMCO Global Strategic Advisor.
The Federal Reserve is out with its Beige Book, with CNBC's Steve Liesman.
*OPEC expected to keep output target unchanged on Friday. OPEC, which pumps more than a third of the world's oil, is expected to reject any calls for output cuts, continuing to produce about 2 million barrels per day above demand. Crude oil futures, already volatile from the combination of a flighty dollar and the bearish mood over OPEC, briefly cut losses on the EIA...
NEW YORK, June 3- U.S. crude oil stockpiles fell for the fifth week in a row even as refinery operating rates eased, data from the Energy Information Administration showed on Wednesday. July crude was down 90 cents at $60.36 a barrel at 11:07 a.m. EDT, having swung from $59.69 to $61.43. Brent July crude was down $1.32 at $64.17, having traded from $63.74 to $65.40.
OIL PRICES PARE LOSSES AFTER EIA DATA SHOWS CRUDE STOCK DROP OF ALMOST 2 MLN BARRELS LAST WEEK.
CNBC's Bertha Coombs reports the latest crude oil and gasoline inventories data.
*OPEC expected to keep output target unchanged on Friday. LONDON, June 3- Oil prices fell in volatile trade on Wednesday as the dollar rose and investors adjusted positions ahead of a key meeting of OPEC oil producers. "There is consensus among Gulf OPEC countries, and others, to keep the ceiling unchanged," the OPEC delegate told Reuters in Vienna.
Patrick Pouyanné, CEO of Total, says that oil price is not just a question of supply and demand, but of geopolitics, especially with turmoil in the Middle East.
Charles Whall, portfolio manager at Investec Asset Management Global Energy Fund, explains why there's "no discipline within OPEC" and if it chooses to do nothing, price volatility will continue.
This week’s meeting of OPEC is widely expected to be newsworthy for the absence of news – but the cartel may have a surprise up its sleeve.
*OPEC expected to keep output target unchanged on Friday. LONDON, June 3- Oil prices fell on Wednesday as the dollar strengthened and as oversupply weighed on markets ahead of a key meeting of OPEC oil producers. "There is consensus among Gulf OPEC countries, and others, to keep the ceiling unchanged," the OPEC delegate told Reuters in Vienna.
*OPEC not expected to cut output at Friday meeting. *Some analysts say OPEC quota could rise. SINGAPORE, June 3- Crude oil prices fell on Wednesday as oversupply weighed on markets, with OPEC not expected to announce a production cut at its meeting on Friday.
Traders and investors ignored a fifth straight weekly decline in U.S. crude stockpiles to focus instead on a big build in distillates.
Bob Dudley, CEO of BP, says the oil giant remains a "deeply viable company" and is not susceptible to a takeover.