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International Organizations OPEC

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  • 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.

  • *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.

  • 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...

  • *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.

  • *OPEC says worried about prices, ready to talk to producers. NEW YORK, Aug 31- Oil futures soared on Monday for a third consecutive day, rising more than 8 percent, as a downward revision of U.S. crude production data and OPEC's readiness to talk with other producers helped extend the biggest three-day price surge in 25 years. U.S. crude gained $3.98, or 8.8 percent, to...

  • Check out this stock on oil bounce: Expert Monday, 31 Aug 2015 | 5:47 PM ET
    Monterey Shale fracking oil

    With a brief recovery in oil prices, investors could start picking away at companies with stable dividends, one expert said.

  • Not so fast. Oil may test $30 again: Trader Monday, 31 Aug 2015 | 4:31 PM ET
    Two oil rigs at the Ladeira Heights oil field in Los Angeles.

    U.S. crude capped its best three-day gain in 25 years Monday, but traders may see $30 oil again this year, Anthony Grisanti said.

  • *OPEC says worried about prices, ready to talk to producers. NEW YORK, Aug 31- Oil futures soared on Monday for a third consecutive day, rising more than 8 percent, as a downward revision of U.S. crude production data and OPEC's readiness to talk with other producers helped extend the biggest price surge in 25 years. U.S. crude gained $3.98, or 8.8 percent, to settle at...

  • *OPEC says worried about prices, ready to talk to producers. NEW YORK, Aug 31- Oil soared on Monday for a third consecutive day, with Brent crude rising more than 8 percent, as a downward revision of U.S. output data and OPEC's readiness to talk with other producers helped extend the biggest price surge in 25 years. OPEC will protect its own interests, "according to the...

  • Shale showing signs of weakening: Pro Monday, 31 Aug 2015 | 2:58 PM ET
    Shale showing signs of weakening: Pro

    Steven Kopits, Princeton Energy Advisors, responds to today's oil rally and whether OPEC will actually take action to bolster prices.

  • Oil ends 8.8% higher, capping huge 3-day gain Monday, 31 Aug 2015 | 2:44 PM ET

    Oil prices surged nearly 9 percent Monday, capping a three-day rally that added more than 27 percent to the commodity's price.

  • *China worries, Fed outlook spook investors. NEW YORK, Aug 31- World stock indexes edged lower on Monday amid persistent investor concerns about slowing growth in China and the prospect of higher U.S. interest rates, while oil prices rallied. Oil was up more than $2 a barrel, rebounding from early losses, as data showed contracting U.S. production and OPEC...

  • *OPEC says worried about prices, ready to talk to other producers. NEW YORK, Aug 31- Oil prices surged more than 5 percent Monday, continuing a three-day rally that has erased August's price declines, after U.S. oil production data showed output falling and OPEC said it would talk with other producers about low prices. Since November, OPEC countries led by Saudi...

  • Oil jumps 6% Monday, 31 Aug 2015 | 12:14 PM ET
    Oil jumps 6%

    The market is digesting monthly energy production numbers. Insight on today's big move in oil prices, with CNBC's Jackie DeAngelis.