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International Organizations OPEC

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  • NEW YORK, Aug 28- The nearly two-month-long slide in oil prices to 6-1/ 2 year-lows has been a boon to many so-called systematic funds, which trade based on technical signals or computer algorithms rather than fundamentals. While most market commentary has focused on the persistent glut in the global market caused by unrelenting OPEC output and surprisingly...

  • FOURTH OPEC DELEGATE SAYS OIL BETWEEN $50- $55' IS THE MAXIMUM OF WHAT I EXPECT IN REST OF 2015'.

  • *Delegates trim price outlooks amid oversupply, China concern. *Gulf delegates hope for price recovery to $60 by Dec. OPEC delegates, including those from core Gulf OPEC countries, see economic troubles in top energy consumer China as short term and unlikely to have much impact on demand for crude which will rise seasonally in the fourth quarter.

  • TWO OPEC DELEGATES SAY LATEST PRICE FALL TO HELP REDUCE OVERSUPPLY BY END OF YEAR, LIFT PRICES SLIGHTLY.

  • TWO GULF OPEC DELEGATES SEES OIL AROUND $40- $50 UNTIL END OF YEAR, HOPE IT WILL REACH $60.

  • *First trip as executive director will be China in September. PARIS/ BRUSSELS, Aug 28- The new head of the International Energy Agency faces dilemmas that challenge the purpose of the body set up to protect the interests of the West against the power of OPEC in the 1970 s. And major energy consumers China and India are not even members, presenting a headache for the...

  • NEW YORK, Aug 28- The nearly two-month-long slide in oil prices to 6-1/ 2 year-lows has been a boon to many so-called systematic funds, which trade based on technical signals or computer algorithms rather than fundamentals. While most market commentary has focused on the persistent glut in the global market caused by unrelenting OPEC output and surprisingly...

  • Qatar's oil minister Mohammed al-Sada, who is the president of the OPEC conference, is among those Venezuela has contacted, the Journal reported on Thursday, citing people familiar with the matter. Iran's Oil Minister Bijan Zanganeh blamed the latest drop in oil prices on some members of OPEC and questioned whether any OPEC emergency meeting would reach an...

  • President Rafael Correa explained on Tuesday, during a visit to areas threatened by the Cotopaxi volcano, that it costs the OPEC nation $39 to produce a barrel of oil for which it only receives $30. Ecuador produces 538,000 barrels a day and under current circumstances stands to lose up to $3 million a day on them, though the state-owned Petroecuador oil company...

  • *Algeria, Iran air prospect of emergency OPEC meeting. *OPEC has not held emergency meeting for years. Although OPEC's statutes say support from a simple majority of the 12 members can trigger an extraordinary meeting, none will occur without support from Saudi Arabia, which has yet to give its blessing, OPEC delegates say.

  • Battle for oil dominance Tuesday, 25 Aug 2015 | 10:00 AM ET
    Battle for oil dominance

    CNBC's Phil Han reports on how some of the world's leading oil exporters are playing a game of chicken to see who will survive near record low oil prices.

  • LONDON, Aug 25- Saudi Arabia and its OPEC allies are counting on strong growth in demand coupled with slower growth in non- OPEC supply to rebalance the oil market in 2016.. But the experience of the "lost decade" after prices slumped in 1986 suggests rebalancing could take longer than some OPEC members and market analysts expect. Non- OPEC supplies were flat between...

  • DUBAI, Aug 25- Iran will ramp up crude oil production and reclaim its lost share of exports shortly after international sanctions on the OPEC member are lifted, Iran's oil minister Bijan Zanganeh said on Tuesday. Iran and six world powers agreed a deal in July to curb Tehran's nuclear programme, but sanctions imposed in 2012 will not be lifted until Iran has...

  • Oil rebound isn’t about fundamentals: Analyst Tuesday, 25 Aug 2015 | 3:30 AM ET
    Oil rebound isn’t about fundamentals: Analyst

    Neil Atkinson, head of analysis at Lloyd's List Intelligence, says Tuesday’s oil price rebound is on the back of the mild recovery in equities following Monday’s drubbing.

  • DUBAI, Aug 25- Iran plans to bring online two new gas operations in October after the OPEC member completes development of another section of the world's largest gas field, its oil minister said on Tuesday. Iran and Qatar share the field, which Iran calls South Pars and Qatar calls the North Field. It exports small quantities to Turkey but has been unable to increase...

  • Why OPEC will not reduce production Tuesday, 25 Aug 2015 | 12:17 AM ET
    Why OPEC will not reduce production

    Previous comments from the Organization of the Petroleum Exporting Countries (OPEC) indicate that member countries will likely stand firm on oil production at the next scheduled meeting in December, says OCBC's economist Barnabas Gan.

  • Commodities tomorrow: Crude's wild ride Monday, 24 Aug 2015 | 4:00 PM ET
    Commodities tomorrow: Crude's wild ride

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

  • OPEC 'feels the heat' on oil, but will they cut? Monday, 24 Aug 2015 | 1:19 PM ET
    The oil ministers of Qatar, Saudi Arabia and the United Arab Emirates attend the opening session of the Arab Energy Conference in Abu Dhabi.

    As the selloff in global markets drive down oil prices, analysts weigh odds that OPEC could be forced into a production cut.

  • LONDON, Aug 24- Saudi Arabia's strategy for rebalancing the oil market through a period of lower prices shows few signs of working so far- with rival producers claiming they will raise output even as prices slide to new lows. Within OPEC, other producers, principally Iraq and Iran, are determined to continue raising their output even as prices slump.

  • *Iran says OPEC meeting could help stabilise prices. It's all about China, " Carsten Fritsch, senior oil analyst at Commerzbank in Frankfurt, told Reuters Global Oil Forum. Brent oil was trading down $1.20, or 2.6 percent, at $44.26 a barrel at 0750 GMT, after hitting an intraday low of $44.00, its weakest since March 2009.