Longstanding tensions between Saudi Arabia and Iran will hold OPEC back from an oil production freeze in the near term, analysts said.
Oil prices rose as much as 6 percent on Wednesday on a report OPEC members have reached a deal to limit crude supply.
OPEC does not want to give the markets any negative signals but Saudi Arabia-Iran consensus remain a key issue, says Energy Aspects' Virendra Chauhan.
Saudi Arabia is actually well-positioned to reduce overproduction as it is near maximum output, says Argus Media's Alejandro Barbajosa.
TOKYO, Sept 28- Asian stocks edged up early on Wednesday following an overnight rise for U.S. stocks, while reduced hopes that a meeting of major producers would reduce a oversupply weighed heavily on crude oil prices. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1 percent. Oil fell about 3 percent on Tuesday after Saudi Arabia and Iran...
The OPEC meeting in Algeria may not have resulted in a resolution as of Tuesday, but at least one person is optimistic.
The slump in energy prices means oil-producing countries face a “clear need” to diversify their economies and improve competitiveness, WEF says.
Kent Moors, Energy Capital Research Group, shares his forecast on oil following the API oil inventory data release of its unexpected drawdown.
OIL PRICES PARE LOSSES IN POST-SETTLEMENT TRADE AFTER API DATA SHOWS SURPRISE IN U.S.
BAGHDAD, Sept 27- Iraq is carrying out a mediation between Saudi Arabia and Iran to bring about an agreement that would lift crude prices, at a meeting of crude-producing nations in Algiers, Iraqi Oil Minister Jabar Ali al-Luaibi said on Tuesday. Iran on Tuesday rejected a proposal from Saudi Arabia to limit its oil output in exchange for Riyadh cutting supplies,...
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.
CNBC's Jackie DeAngelis reports the close of the oil markets as OPEC meets in Algeria.
Jeffrey Currie, Goldman Sachs Head of Commodities Research, discusses cutting his year-end forecast for oil and the OPEC meeting in Algiers.
Jeff Currie, Goldman Sachs Head of Commodities Research, discusses his market forecasts for oil, gold and the dollar.
OIL PRICES PARE LOSSES, BRENT AND U.S.
The Futures Now team discusses what's contributing to crude oil's fall today and where they see the commodity heading next.
A house exploded Tuesday morning in the Bronx killing a FDNY battalion chief and injuring at least 12 people, according to a NBC New York report.
CNBC's Seema Mody reports on all the market moving events in Europe today, including a sell-off in European banks.
The S&P 500 energy sector shed more than about half a percent on Tuesday amid concerns about a supply glut.
OIL PRICES EXTEND LOSSES; U.S., BRENT CRUDE DOWN BY ABOUT 3.5 PCT.