International Organizations OPEC

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  • CARACAS, June 23- Oil prices will likely rise by $10 per barrel this summer, Venezuela's oil minister said on Thursday, adding that the South American OPEC nation's output could increase as much as 200,000 barrels per day in the next six months. Del Pino said state oil company PDVSA has launched a broad effort that includes co-operation with joint ventures and new...

  • ABUJA, June 22- Nigeria's distributable revenues to the three tiers of government rose in May to 305 billion naira, up from 281.5 billion in April, boosted by higher oil prices and tax revenues, the finance minister said on Wednesday. Nigeria, an OPEC member with Africa's biggest economy which relies on crude sales for about 70 percent of national income, has been...

  • *Militants want greater share of Nigeria's oil wealth. The militants say they want a greater share of Nigeria's oil wealth to go to the impoverished Delta region. OPEC member Nigeria was Africa's top oil producer until the spate of attacks pushed it behind Angola.

  • *OPEC oil export revenues fall 46 percent in 2015. *Crude exports by OPEC rise only "slightly". They earned $518.2 billion from petroleum exports last year, OPEC said in its Annual Statistical Bulletin, the lowest level since 2005..

  • DUBAI, June 22- Iran named oil ministry senior analyst Behrouz Beik Alizadeh as its new representative at the Organization of the Petroleum Exporting Countries, the ministry's news agency SHANA reported on Wednesday.

  • *OPEC, non- OPEC producers may consult at Sept forum. Despite the collapse of talks on restraining production among OPEC and non- OPEC members earlier this year, he thinks the discussions were a success that might soon be repeated. "It paved the way for a reversal of negative trends in the oil markets," Novak told reporters last week after meeting OPEC member...

  • Oil production

    Oil prices reversed their losses in post-settlement trade after API data showed a bigger-than-expected draw on inventory.

  • BUENOS AIRES, June 21- Venezuela has badly mismanaged its vast oil resources, a senior U.S. diplomat told Reuters in an interview on Tuesday in which he said a change in government could quickly turn the OPEC member's fortunes around. Tensions have been high between Washington and Venezuela, where the president is facing a possible recall referendum amid...

  • ABUJA, June 21- Incoming OPEC Secretary-General Mohammed Barkindo said on Tuesday that he had been told Nigeria's oil production is beginning to rise. He made the comments after a meeting with Nigeria's President Muhammadu Buhari and Emmanuel Ibe Kachikwu, the oil minister, in the capital, Abuja. He also said that the Nigerian government was trying to resolve...

  • OPEC SECRETARY-GENERAL MOHAMMED BARKINDO SAYS HAS BEEN TOLD NIGERIA'S OIL PRODUCTION IS BEGINNING TO RISE AGAIN- SPEAKING AFTER MEETING WITH BUHARI AND OIL MINISTER KACHIKWU.

  • Commodities tomorrow:

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

  • Oil rally on?

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

  • Can oil really hit $80?

    Raymond James' Pavel Mochanov discusses his projection that oil could hit $80/barrel next year.

  • While not as obvious as the role Saudi Arabia played as the market balancer for crude in the previous glory days of the Organization of the Petroleum Exporting Countries, the dynamics for China and metals may be somewhat similar. Up until fairly recently China was an insignificant player in the export market for most industrial, or semi-refined, metals such as...

  • While not as obvious as the role Saudi Arabia played as the market balancer for crude in the previous glory days of the Organization of the Petroleum Exporting Countries, the dynamics for China and metals may be somewhat similar. Up until fairly recently China was an insignificant player in the export market for most industrial, or semi-refined, metals such as...

  • HOUSTON, June 20- Two years into the worst oil price rout in a generation, large and mid-sized U.S. independent producers are surviving and eyeing growth again as oil nears $50 a barrel, confounding OPEC and Saudi Arabia with their resiliency. That shale giants Hess Corp, Apache Corp and more than 25 other companies have beaten back OPEC's attempt to sideline them...

  • The Fed will refrain from interest rate increases during the election year to keep financial markets stable.

  • Commodities tomorrow:

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

  • Commodities tomorrow:

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

  • A floorhand works on an oil rig in the Bakken shale formation outside Watford City, North Dakota.

    The collapse in crude prices is turning into a trillion-dollar retrenchment for the global oil industry.