×

International Organizations OPEC

  • *OPEC cut compliance around 90 pct, but U.S. output rising. Top OPEC exporter Saudi Arabia's crude oil shipments fell in December to 8.014 million barrels per day from 8.258 million bpd in November, official data showed on Monday. Brent futures were up 37 cents at $56.18 a barrel at 1:05 p.m. EST, while U.S.

  • *OPEC cut compliance around 90 pct, but U.S. output rising. NEW YORK/ LONDON, Feb 20- Oil edged up on Monday, as investor optimism over the effectiveness of producer cuts encouraged record bets on a sustained price rise, although growing U.S. output and stubbornly high stockpiles kept price gains in check. Top OPEC exporter Saudi Arabia's crude oil shipments fell in...

  • LONDON, Feb 20- Hedge funds and other money managers have amassed a very large bullish position in crude oil futures and options without so far having much impact on oil prices. The combined net long position has a notional valuation of more than $49 billion, which is the highest since July 2014. Fund managers now have the most bullish view on oil since the first half...

  • *OPEC cut compliance around 90 pct, but U.S. output rising. Investors have certainly taken OPEC members at their word on their commitment to cut production and now hold more crude futures and options than at any time on record. "There is still a general consensus that the OPEC/ non- OPEC agreement helps supply to get in line with demand.

  • LONDON, Feb 20- Hedge funds and other money managers have amassed a very large bullish position in crude oil futures and options without so far having much impact on oil prices. The combined net long position has a notional valuation of more than $49 billion, which is the highest since July 2014. Fund managers now have the most bullish view on oil since the first half...

  • *OPEC cut compliance around 90 pct, but U.S. output rising. Investors have certainly taken OPEC members at their word on their commitment to cut production and now hold more crude futures and options than at any time on record. "There is still a general consensus that the OPEC/ non- OPEC agreement helps supply to get in line with demand.

  • *OPEC cut compliance around 90 pct, but U.S. output rising. Investors have certainly taken OPEC members at their word on their commitment to cut production and now hold more U.S. crude futures and options than at any time on record. "There is still a general consensus that the OPEC/ non- OPEC agreement helps supply to get in line with demand.

  • Brent futures were up 23 cents at $56.04 a barrel at 0750 GMT, while U.S. "Sustained gains above $55 a barrel, and a hoped for rally to $60 a barrel, both proving incredibly tough nuts to crack," said Jeffrey Halley, senior market analyst at futures brokerage OANDA in Singapore. "At the crux of the matter is that 90 percent OPEC compliance is being balanced by ever...

  • Brent futures were up 17 cents at $55.98 a barrel at 0616 GMT, while U.S. "Sustained gains above $55 a barrel, and a hoped for rally to $60 a barrel, both proving incredibly tough nuts to crack," said Jeffrey Halley, senior market analyst at futures brokerage OANDA in Singapore. "At the crux of the matter is that 90 percent OPEC compliance is being balanced by ever...

  • Brent futures were down 5 cents at $55.75 a barrel at 0245 GMT, while U.S. "Sustained gains above $55 a barrel, and a hoped for rally to $60 a barrel, both proving incredibly tough nuts to crack," said Jeffrey Halley, senior market analyst at futures brokerage OANDA in Singapore. "At the crux of the matter is that 90 percent OPEC compliance is being balanced by ever...

  • TOKYO, Feb 20- Oil prices rose on Monday, but gains were minimal as investors gauged whether an increase in U.S. drilling and record stockpiles would undermine efforts by producers to cut output and bring the market into balance. Brent futures were up 1 cent at $55.82 a barrel at 0050 GMT, while U.S. The Organization of the Petroleum Exporting Countries and other...

  • We don't believe in rapid escalation in oil prices: Saudi Arabia

    Adel al-Jubeir, foreign minister of Saudi Arabia, talks about his country's oil policy and diversifying the Saudi economy.

  • BAGHDAD— Iraq says new exploration has revealed an additional 10 billion barrels of oil, bringing its total proven reserves to 153 billion barrels. He says Iraq will ask the Organization of the Petroleum Exporting Countries to adopt the new figure. Iraq will remain the fourth largest OPEC member, after Venezuela, Saudi Arabia and Iran.

  • Globally, the Organization of the Petroleum Exporting Countries and other producers, including Russia, agreed to cut output almost 1.8 million barrels per day during the first half of 2017.. Estimates suggest compliance by OPEC is around 90 percent, and Reuters reported on Thursday that OPEC could extend the pact or apply deeper cuts from July if global crude...

  • U.S. energy companies added oil rigs for a fifth straight week, Baker Hughes said, extending a nine-month recovery as drillers take advantage of crude prices that have held mostly over $50 a barrel since OPEC agreed to cut supplies in late November. Estimates suggest compliance by OPEC is around 90 percent, and Reuters reported on Thursday that OPEC could extend...

  • A Shell Oil facility in Carson, California

    Oil was pressured by growing global stocks, but hope that an output cut by producers might balance the market helped to cap losses.

  • U.S. energy companies added oil rigs for a fifth straight week, Baker Hughes said, extending a nine-month recovery as drillers take advantage of crude prices that have held mostly over $50 a barrel since OPEC agreed to cut supplies in late November. Estimates suggest compliance by OPEC is around 90 percent, and Reuters reported on Thursday that OPEC could extend...

  • Feb 17- U.S. energy companies added oil rigs for a fifth straight week, extending a nine-month recovery as drillers take advantage of crude prices that have held mostly over $50 a barrel since OPEC agreed to cut supplies in late November. RIG-OL-USA- BHI> During the same week a year ago, there were 413 active oil rigs. Baker Hughes oil rig count plunged from a record...

  • *Demand growth falters in China, India. Estimates suggest compliance by OPEC is around 90 percent, and Reuters reported on Thursday that OPEC could extend the pact or even apply deeper cuts from July if global crude inventories fail to drop to a targeted level. "It's encouraging that it may not be a six-month deal but one of the issues is if you look at OPEC and other...

  • *Demand growth falters in China, India. Both appeared on track for losses on the week, though prices had moved higher earlier in the session in response to news that producer group OPEC could extend an output cut aimed at reining in a global supply overhang. The Organization of the Petroleum Exporting Countries and other producers, including Russia, agreed to cut...