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International Organizations OPEC

  • *Analysts doubt OPEC's ability to tighten the market. *Rising U.S. output undermines OPEC- led efforts to cut. The weak markets are a result of doubts over OPEC's ability to rein in a fuel supply overhang that has dogged markets since 2014 as production has largely outpaced consumption.

  • The weak markets are a result of doubts over OPEC's ability to rein in a fuel supply overhang that has dogged markets since 2014 as production has largely outpaced consumption. "Markets remain sceptical of OPEC's ability to balance supplies," ANZ bank said on Friday. At the heart of the glut is that rising production levels from the traditional suppliers of OPEC...

  • LONDON, June 22- Oil traders have become increasingly doubtful that OPEC will manage to cut crude stocks down to the five-year average in 2018 and keep them there. Calendar spreads for Brent futures throughout the rest of 2017 and 2018 have weakened significantly since OPEC agreed to roll over its production allocations at the end of May. Calendar spreads are...

  • *European shares flat, Wall Street modestly higher. Brent edged up from November lows hit in the prior session, when U.S. crude hit its lowest intraday level since August 2016, but sentiment remained negative as a supply glut has persisted despite OPEC- led cuts to output. "I would not be surprised if it breaks down, considering momentum is still in that direction as...

  • Commodities tomorrow:

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

  • NEW YORK, June 22- Oil rose on Thursday, a day after hitting 10- month lows, but market sentiment remained negative because the global crude glut has persisted despite OPEC- led output cuts. Brent crude futures ended 40 cents higher to $45.22 a barrel, after falling as low as $44.53. Crude has dropped around 20 percent since late February, erasing gains after OPEC and...

  • An oil pump jack in the oil town of Gonzales, Texas.

    Oil rose but market sentiment remained negative due to ongoing pressure from a persistent supply glut.

  • *European shares flat, Wall Street modestly higher. Oil edged up from November lows hit in the prior session, when U.S. crude hit its lowest intraday level since August 2016, sentiment remained negative from a supply glut that has persisted despite OPEC- led efforts to balance the market. Those declines weighed on European shares but the picture was reversed on...

  • *Some U.S. shale producers can profit with oil below $40. NEW YORK, June 22- Oil rose on Thursday, a day after sliding to 10- month lows, but market sentiment remained negative due to ongoing pressure from a persistent supply glut despite OPEC- led efforts to balance the market. Brent crude futures were up 70 cents at $45.52 a barrel at 11:58 a.m. ET, after falling as low...

  • Mohammed bin Salman of Saudi Arabia

    Oil prices have further to fall, says John Kilduff. But traders should watch the geopolitical situation carefully.

  • *European shares flat, Wall Street modestly higher. Oil edged up from November lows hit in the prior session, but prices remained under pressure from a supply glut that has persisted despite OPEC- led efforts to balance the market. Those declines weighed on European shares but the picture was reversed on Wall Street, with energy up 0.5 percent, among the best...

  • LONDON, June 22- Oil edged up from multi-month lows on Thursday, but prices remained under pressure from a supply glut that has persisted despite OPEC- led efforts to balance the market. Brent crude futures were up 60 cents at $45.42 a barrel at 1407 GMT, after falling as low as $44.53. U.S. crude futures were up 40 cents at $42.93 a barrel, after also slipping.

  • LONDON, June 22- Oil traders have become increasingly doubtful that OPEC will manage to cut crude stocks down to the five-year average in 2018 and keep them there. Calendar spreads for Brent futures throughout the rest of 2017 and 2018 have weakened significantly since OPEC agreed to roll over its production allocations at the end of May. Calendar spreads are...

  • *American Airlines up after reports of Qatar Airways seeks stake. Since peaking in late February, crude has dropped around 20 percent, skidding into bear market territory, despite OPEC- led efforts to stabilize the market. "I think this a situation where OPEC is ceding market share and is no longer able to control prices."

  • *OPEC sources determined not to rush to deepen cuts. OPEC members appear determined not to rush into deeper output curbs despite market pressure. As a result, the oil market posted its worst performance in the first six months in two decades effectively signaling its refusal to accept the effectiveness of the OPEC statement and its desire for further...

  • *American Airlines up after reports of Qatar Airways seeks stake. Since peaking in late February, crude has dropped around 20 percent, skidding into bear market territory, despite OPEC- led efforts to stabilize the market. "I think this a situation where OPEC is ceding market share and is no longer able to control prices."

  • LONDON, June 22- Oil edged up from multi-month lows on Thursday, but prices remained under pressure from a supply glut that has persisted despite OPEC- led efforts to balance the market. Brent crude futures were up 43 cents at $45.25 a barrel at 1229 GMT, after falling as low as $44.53 earlier in the day. U.S. crude futures were up 30 cents at $42.83 a barrel, after also...

  • *U.S. crude futures were up 0.4 percent at $42.70 per barrel. Global benchmark Brent traded at around $45.24. *Since peaking in late February, crude has dropped around 20 percent, skidding into bear market territory, despite OPEC- led efforts to balance the market.

  • LONDON, June 22- Oil edged up from multi-month lows on Thursday, but prices remained under pressure from a supply glut that has persisted despite OPEC- led efforts to balance the market. Brent crude futures were up 40 cents at $45.22 a barrel at 1017 GMT, after falling as low as $44.53 earlier in the day. U.S. crude futures were up 29 cents at $42.82 a barrel, after also...

  • LONDON, June 22- Oil slid back towards multi-month lows on Thursday, after a brief recovery early in the session, as traders warily eyed a glut of physical supply that has persisted despite OPEC- led efforts to balance the market. Brent crude futures were down 15 cents at $44.67 a barrel at 0850 GMT, after spending much of the Asian trading day in positive territory.