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International Organizations OPEC

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  • An oil pump jack in Russia

    Russia could be the key to unlocking production cuts from Saudi Arabia, the world's top oil exporter, Nasdaq energy analyst Tamar Essner told CNBC.

  • CARACAS, Sept 4- Venezuelan president Nicolas Maduro arrived in fellow OPEC nation Qatar on Friday in an unannounced visit to push for action on oil prices. Venezuela's Oil Ministry did not immediately respond to a request for further details. Cash-strapped Venezuela has for months been pushing for an emergency OPEC meeting and joint coordination with...

  • Oil prices have hit bottom? This expert thinks so Wednesday, 2 Sep 2015 | 6:17 PM ET
    Oil prices have hit bottom? This expert thinks so

    Barry Dawes, head of resources at Paradigm Securities, explains why crude oil prices may have reached the bottom.

  • Commodities tomorrow: Crude comeback Wednesday, 2 Sep 2015 | 3:40 PM ET
    Commodities tomorrow: Crude comeback

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.

  • Saudis to talk output cuts at THIS level: Trader Wednesday, 2 Sep 2015 | 1:06 PM ET
    The sun sets over an oil refinery in Saudi Arabia.

    Saudi Arabia will try to jockey the oil market with comments about cutting production once crude prices fall below $44, Phillip Streible said.

  • More pain in the oil patch? Wednesday, 2 Sep 2015 | 8:45 AM ET
    More pain in the oil patch?

    Roger Diwan, IHS Financial Services vp, shares his outlook on oil and weighs in on what's prompting the slide in crude prices.

  • CARACAS, Sept 1- Venezuela and China have signed a deal for a $5 billion loan designed to increase the OPEC country's oil production, Venezuelan President Nicolas Maduro said. A source at Venezuelan state-run oil company PDVSA told Reuters in March that China was set to extend a "special" $5 billion loan that would likely stipulate hiring Chinese companies to...

  • CARACAS, Sept 1- President Nicolas Maduro said Venezuela has signed a deal with China for a $5 billion loan to increase the OPEC country's oil production.

  • Here's why the three-day rally in oil ended Tuesday, 1 Sep 2015 | 7:43 PM ET
    Here's why the three-day rally in oil ended

    Tim Evans, energy analyst for Futures Research at Citigroup, says data from the American Petroleum Institute (API) underscore a larger oversupply in the global crude oil market.

  • *China manufacturing contracts at fastest in 3 years- PMI. "It was primarily the China fear factor," Carsten Fritsch at Commerzbank in Frankfurt told the Reuters Global Oil Forum. And an OPEC magazine commentary that some traders interpreted on Monday as signaling a possible subtle policy shift was nothing of the sort, OPEC insiders said.

  • said Phil Flynn, energy analyst at the Price Futures Group. " Starting last summer oil began to fall, sliding from near $100 to under $45 in March. U.S. oil production was booming, OPEC nations kept oil flowing and even rising demand wasn't enough to absorb the flood of oil.

  • Commodities tomorrow: Crude down 8% Tuesday, 1 Sep 2015 | 3:38 PM ET
    Commodities tomorrow: Crude down 8%

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.

  • OPEC op-ed that fueled oil rally baffles insiders Tuesday, 1 Sep 2015 | 11:52 AM ET
    The logo of the Organization of the Petroleum Exporting Countries (OPEC) is pictured at its headquarters in Vienna, Austria, August 21, 2015.

    The commentary in the OPEC Bulletin said downward pressure on prices due to higher production "remains a cause for concern."

  • LONDON, Sept 1- An OPEC publication written by the exporter group's public relations team helped oil prices jump and prompted speculation over a possible shift in output policy- to the bafflement of some OPEC insiders. The commentary on Monday in the OPEC Bulletin, a magazine issued by OPEC's Vienna headquarters, said downward pressure on prices due to higher...

  • Saudi's oil balancing act Tuesday, 1 Sep 2015 | 10:17 AM ET
    Saudi's oil balancing act

    Discussing whether OPEC forecast the downturn in oil prices, with Helima Croft, RBC Capital Markets.

  • *World still over-supplied with oil- Morgan Stanley report. *China manufacturing contracted at fastest pace in three years- official PMI data. The surge was fuelled by an OPEC commentary saying the cartel was willing to talk to other producers to achieve reasonable oil prices, as well as by the downward revision of U.S. output data by the U.S. Energy Information...

  • *World still over-supplied with oil- Morgan Stanley report. *China manufacturing contracted at fastest pace in three years- official PMI data. The surge was fuelled by an OPEC commentary saying the cartel was willing to talk to other producers to achieve reasonable oil prices, as well as by the downward revision of U.S. output data by the U.S. Energy Information...

  • Why the oil price rebound will be short lived Monday, 31 Aug 2015 | 10:09 PM ET
    Why the oil price rebound will be short lived

    Andy Lipow, president at Lipow Oil Associates, doubts that the Organization of Petroleum Exporting Countries (OPEC) will strike an agreement with other oil producers to achieve a balanced market.

  • The surge was fuelled by an OPEC commentary saying the cartel was willing to talk to other producers to achieve reasonable oil prices, as well as by the downward revision of U.S. output data by the U.S. Energy Information Administration. Brent crude for October delivery had dropped $1.85 to $52.30 a barrel, or 3.4 percent, as of 0030 GMT after climbing $4.10, or 8.2...

  • Oil's rebound is 'somewhat unjustified': Pro Monday, 31 Aug 2015 | 6:04 PM ET
    Oil's rebound is 'somewhat unjustified': Pro

    Matt Smith, director of commodity research at ClipperData, says oil prices are getting ahead of market fundamentals on the back of heavy short-covering.