International Organizations OPEC

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  • NEW YORK, Feb 5- Oil prices ended the week lower in choppy trading on Friday, snapping two weeks of gains, as a frenzy of speculation about a possible deal between top oil producers clashed with concerns about a growing supply glut. After a volatile week's trading, much is riding on Sunday's meeting between Venezuelan Oil Minister Eulogio Del Pino and his Saudi...

  • NEW YORK, Feb 5- Oil prices were little changed in choppy trading on Friday, as a frenzy of speculation about a possible deal between top oil producers clashed with concerns about a growing supply glut. After a volatile week's trading, much is riding on Sunday's meeting between Venezuelan Oil Minister Eulogio Del Pino and his Saudi counterpart Ali al-Naimi in...

  • *Iran says it supports meeting between OPEC, other producers. *Venezuela oilmin meets with counterparts in Qatar, Oman. NEW YORK, Feb 4- Oil fell 2 percent in volatile trading on Thursday, as support from a weakening dollar was overshadowed by scepticism that cash-strapped OPEC member Venezuela's effort to lobby crude producers for joint output cuts would...

  • Qatar's Energy Minister Mohammed al-Sada is the current holder of the rotating OPEC presidency. Del Pino later met Oman's Oil Minister Mohammad bin Hamad al-Rumhy, who "reiterated his support of the actions Venezuela has taken to stabilize the market," according to statements from the Oil Minister and state oil company PDVSA, over which Del Pino presides.

  • *Iran says it supports meeting between OPEC, other producers. NEW YORK, Feb 4- Oil prices were volatile on Thursday, reversing earlier gains as scepticism that cash-strapped OPEC member Venezuela's effort to lobby crude producers for output cuts would succeed offset a weakening dollar. Venezuelan Oil Minister Eulogio del Pino said he had a "good and productive"...

  • These are early signs of capitulation for oil Thursday, 4 Feb 2016 | 1:07 PM ET
    A worker checks a valve at the Lukoil company owned Imilorskoye oil field outside the West Siberian city of Kogalym, Russia.

    Early signs of capitulation by oil producers could mean a bottom is getting closer.

  • *Iran says it supports meeting between OPEC, other producers. Crude added to the previous session's 7 percent jump after an Iranian official was quoted as saying Tehran supported a meeting between OPEC and other oil producers. "Headlines continue to fly about an OPEC/ non- OPEC meeting.

  • *OPEC's Venezuela lobbies for producer meet to cut output. Crude rebounded from an earlier decline after an Iranian official was quoted as saying Tehran supported a meeting between OPEC and other oil producers- raising hopes they could take action to support prices despite widespread scepticism in the market. "Headlines continue to fly about an OPEC/ non- OPEC...

  • Qatar's Energy Minister Mohammed al-Sada is the current holder of the rotating OPEC presidency. Cash-strapped OPEC member Venezuela has been calling for an emergency meeting of producers to discuss steps to prop up prices, which are close to their lowest since 2003.. On Wednesday, Iranian news agency Shana quoted Del Pino as saying six producing countries,...

  • *Oil prices held on to most of their previous day's gains of 7 percent as the dollar weakened and Venezuela appeared to be gaining support from more members of OPEC and other producers for a meeting. *Fed policymaker William Dudley said in an interview published on Wednesday that monetary conditions had tightened since the Fed raised rates and that...

  • *OPEC- member Venezuela lobbies for producer meeting to cut output. *Morgan Stanley cuts 2016 Brent forecast to $30/ b, 2017 to $40/ b. U.S. crude futures were trading at $32.68 per barrel at 0119 GMT on Thursday, up 40 cents from the previous session's close when they rallied 8 percent from below $30 per barrel.

  • *OPEC- member Venezuela lobbies for producer meeting to cut output. SINGAPORE, Feb 4- U.S. crude oil prices extended gains from the previous session on Thursday, as a weaker dollar and ongoing yet unconfirmed talk of producers potentially meeting to discuss output cuts lifted the market despite record U.S. stocks. West Texas Intermediate crude futures were...

  • Oil jumps 8% as dollar tumbles after US data Wednesday, 3 Feb 2016 | 3:48 PM ET
    Workers at an oil well operated by a subsidiary of the KazMunayGas Exploration Production JSC in Kazakhstan, January 21, 2016.

    Oil prices jumped 8 percent higher, snapping a two-day rout, after investors took advantage of a weaker U.S. dollar.

  • Comments by Russia's Foreign Minister reiterating the major producer's willingness to meet if there was consensus among the OPEC and non- OPEC members, also reignited hopes of a deal to trim output and helped to boost prices as much as 7 percent. Brent futures rose $1.95, or 5.9 percent, to $34.67 a barrel by 1:12 p.m. EST, after rising as high as $34.93.

  • Recession odds 40 percent: Deutsche's LaVorgna Wednesday, 3 Feb 2016 | 11:37 AM ET
    A worker TIG welds aluminum on the production line at the Littman Brands Troy-CSL Lighting Inc. manufacturing facility in Los Angeles.

    The odds of a U.S. recession this year have risen to 40 percent, according to Deutsche Bank's chief U.S. economist, Joseph LaVorgna.

  • LONDON, Feb 3- Oil rose on Wednesday after Russia repeated its willingness to take part in talks with OPEC producers to cut output and boost prices, although analysts said rising U.S. crude inventories could put a brake on a bigger rally. Russian Foreign Minister Sergei Lavrov said if there is consensus among the Organization of the Petroleum Exporting...

  • NEW YORK, Feb 3- U.S. Oil rose after Russia reiterated its openness to talking with OPEC about output cuts, which helped revive hope among investors that the world's largest producers could act to boost prices. "Oil is up slightly and the ADP number was maybe a little bit stronger than what the market was looking for," said Gary Pollack, head of fixed income trading at...

  • Oil prices pared some losses after Russia reiterated its openness to talking with OPEC about output cuts, which helped revive hope among investors that the world's largest producers could act to boost prices. Oil prices have fallen about 70 percent in the past 18 months, hit by a growing glut and cooling economic growth in China and other emerging markets.

  • Stressed-out market may find some relief in this Wednesday, 3 Feb 2016 | 7:35 AM ET
    Traders work on the floor of the New York Stock Exchange

    Stressed-out markets will get a look Wednesday at the health of the U.S. services sector.

  • *Oil prices pared some losses after Russia reiterated its openness to talking with OPEC about output cuts, which helped revive hope among investors that the world's largest producers could act to boost prices. *Oil prices have fallen about 70 percent in the past 18 months, hit by a growing glut and cooling economic growth in China and other emerging markets.