International Organizations OPEC

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  • CARACAS, July 21- Venezuela's top court has ruled that the country's central bank does not need congressional approval to seek a loan from a multilateral agency to shore up the OPEC nation's flagging international reserves. The ruling paves the way for the government of President Nicolas Maduro to borrow from the Latin American Reserves Fund, part of the...

  • *Russia says will not coordinate oil output with OPEC. *Russia says oil output to reach 542-544 mln tonnes in 2016. Global benchmark Brent crude prices were up 5 cents at $46.71 a barrel at 1225 GMT.

  • *Russia says will not coordinate oil output with OPEC. *Russia says oil output to reach 542-544 mln tonnes in 2016. Global benchmark Brent crude prices were up 20 cents at $46.86 a barrel at 0947 GMT.

  • DUBAI, United Arab Emirates— The Abu Dhabi Investment Authority says it is committed to a long-term investment strategy despite a slump in oil prices and concerns about slower economic growth worldwide. ADIA is based in the capital of OPEC member United Arab Emirates and is one of the world's largest sovereign wealth funds. He also expressed confidence in...

  • *Russia says will not coordinate oil output with OPEC. *Russia says oil output to reach 542-544 mln tonnes in 2016. He told Reuters in an interview that Russia was not discussing coordination with OPEC and that Russian oil output would rise to 542-544 million tonnes this year, a 30- year high.

  • Commodities tomorrow:

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

  • ALGIERS, July 18- Algeria signed deals with Indonesia's Indorama Corporation on Monday to develop a phosphate mine and build two plants to process the crop nutrient in the North African country at a total expected cost of $4.5 billion. The contracts are part of steps to develop Algeria's long-neglected mining sector and diversify the OPEC member country's...

  • Oil pumps

    India could be a key catalyst for oil prices, according to oil expert Helima Croft of RBC Capital Markets.

  • Commodities tomorrow:

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

  • Oil

    Oil prices rose on Thursday as traders covered short positions a day after crude futures were hammered by weak U.S. demand for fuel.

  • Brent crude oil was up 60 cents at $46.86 a barrel by 1015 GMT. "The oil market is oversupplied, OPEC production is on the rise and we had a rather bearish weekly U.S. oil stats report," said Tamas Varga at London brokerage PVM Oil Associates. The IEA said a glut in the global oil market was persistent and would put a lid on crude prices despite demand growth and declines in...

  • "The oil market is oversupplied, OPEC production is on the rise and we had a rather bearish weekly U.S. oil stats report," said Tamas Varga at London brokerage PVM Oil Associates. Crude stocks in the United States fell less than expected last week, while distillate inventories rose the most since January and gasoline stocks unexpectedly increased, the Energy...

  • Commodities tomorrow:

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

  • The Philadelphia Energy Solutions oil refinery in Philadelphia.

    U.S. refiners could be helping set the stage for another day of reckoning for oil prices.

  • Two oil workers working on drilling rig

    U.S. crude oil stocks fell less than expected last week, while distillate inventories rose the most since January, the EIA said Wednesday.

  • *OPEC delegate says comments suggest change in Saudi view. LONDON, July 13- OPEC delegates say comments from top exporter Saudi Arabia, which two years ago led the group to drop its historic role of supporting oil prices, are a change in tone and a sign the kingdom is looking- verbally for now- to prop up the market. But OPEC insiders say Falih's comments, and a remark he...

  • LONDON, July 13- The global glut in oil is refusing to ease and acts as a major dampener on crude prices despite robust demand growth and steep declines in non- OPEC production, the International Energy Agency said on Wednesday. It said demand was growing thanks to good consumption in India, China and, surprisingly, Europe. Oil prices slumped to their lowest in over a...

  • LONDON, July 13- The global glut in oil is refusing to ease and acts as a major dampener on crude prices despite robust demand growth and steep declines in non- OPEC production, the International Energy Agency said on Wednesday. Oil prices slumped to their lowest in over a decade at $27 a barrel earlier this year from as high as $115 in 2014 after OPEC raised...

  • SINGAPORE, July 13- Crude futures fell on Wednesday as investors locked in gains after oil prices surged nearly 5 percent in the previous session, partly on forecasts from the U.S. government and OPEC that demand would increase next year. There is maybe a little bit of profit taking ahead of the stats, "said Ben Le Brun, market analyst at Sydney's OptionsXpress.

  • SINGAPORE, July 13- Crude futures fell on Wednesday as investors locked in gains after oil prices surged nearly 5 percent in the previous session, partly on forecasts from the U.S. government and OPEC that demand would increase next year. There is maybe a little bit of profit taking ahead of the stats, "said Ben Le Brun, market analyst at Sydney's OptionsXpress.