International Organizations OPEC

  • An oil pump jack in Russia

    Oil prices extended losses on Wednesday after data showed large weekly builds in U.S. petroleum products offset a surprise draw in crude stockpiles.

  • On Tuesday, crude futures settled down 3 percent after the world's energy watchdog and OPEC both revised forecasts that signaled the global crude glut could persist much longer than expected. "I am expecting an across-the-board build with a large build in crude oil as imports recover after the tropical storm in the Gulf," said Dominick Chirichella, senior...

  • Asia markets traded mostly lower on Wednesday, tracking U.S. losses, as uncertainty over central banks' next moves spurred jitters.

  • Oil Prices

    OPEC has been increasing their demand figures and forecasts every month, while decreasing their output, says Paradigm Securities' Barry Dawes.

  • *More driller resilience to low prices next year- OPEC. NEW YORK, Sept 13- Oil prices fell as much as 3 percent on Tuesday after both the world's energy watchdog and OPEC revised forecasts that signaled the global crude glut could persist for much longer than expected. "It seems the situation has deteriorated strongly in the eyes of OPEC, as well as the IEA," said...

  • *Oil prices fall as much as 3 pct on IEA, OPEC comments. The energy index's 2.86- percent slide led declines as oil prices tumbled as much as 3 percent after both the IEA and OPEC said the global crude glut would persist. "There is a heightened level of uncertainty regarding hikes, and investors aren't confident about any comments coming from Fed officials," said Andre...

  • MEXICO CITY/ CARACAS, Sept 13- Venezuela's state oil company PDVSA on Tuesday proposed a bond swap for $7 billion in outstanding debt to lower the financial burden on the cash-strapped company, which is at the center of the OPEC nation's unraveling socialist economy. But investors may remain skeptical that the proposal does not address underlying problems...

  • Commodities tomorrow:

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

  • *More driller resilience to low prices next year- OPEC. NEW YORK, Sept 13- Oil prices settled down as much as 3 percent on Tuesday after forecasts from producer group OPEC and a leading energy market body focused on consumers indicated a global crude supply glut could persist into next year. "It seems the situation has deteriorated strongly in the eyes of OPEC, as well...

  • *Oil prices fall more than 2 pct on IEA, OPEC comments. The energy index's 2.8 percent slide led declines as oil prices tumbled more than 2.5 percent after both the IEA and OPEC said the global crude glut would persist. "There is a heightened level of uncertainty regarding hikes and investors aren't confident about any comments coming from Fed officials," said Andre...

  • *Oil prices fall more than 2 pct on IEA, OPEC comments. The energy index's 2.6 percent slide led the decliners as oil prices tumbled more than 2.5 percent after both the IEA and OPEC said the global crude glut would persist. "Oil is acting as a barometer for the economy," said Andre Bakhos, managing director at Janlyn Capital in Bernardsville, New Jersey.

  • NEW YORK, Sept 13- Oil prices fell as much as 3 percent on Tuesday after both the world's consumers and producers revised forecasts that signaled the global crude glut persisting for much longer than previously expected. "It seems the situation has deteriorated strongly in the eyes of OPEC, as well as the IEA," said Commerzbank head of commodities strategy Eugen...

  • The IEA's latest comments follow a surprisingly bearish outlook from OPEC on Monday. Brent crude was down 47 cents at $47.85 a barrel by 1340 GMT, with U.S. "It seems the situation has deteriorated strongly in the eyes of OPEC as well as the IEA," said Commerzbank head of commodities strategy Eugen Weinberg.

  • The IEA's latest comments follow a surprisingly bearish outlook from OPEC on Monday. Brent crude prices was down 97 cents to $47.35 a barrel by 1105 GMT, while U.S. "It seems the situation has deteriorated strongly in the eyes of OPEC as well as the IEA," Commerzbank head of commodities strategy Eugen Weinberg said.

  • The IEA's latest comments follow a surprisingly bearish outlook from OPEC the day before. Brent crude prices fell 92 cents to $47.40 a barrel by 0910 GMT, while U.S. "It seems the situation has deteriorated strongly in the eyes of OPEC as well as the IEA," Commerzbank head of commodities strategy Eugen Weinberg said.

  • "If we get to $47.50 on WTI, I'm shorting it as it seems to be a channel top," said Phil Davis, a trader at PSW Investments in Woodland Park, New Jersey. "Fundamentally, there's little support for crude despite its attempts to hold to a bottom channel of $45 on empty OPEC talk of production cuts." The Organization of the Petroleum Exporting Countries is meet non- OPEC members...

  • Janet Yellen

    A Fed rate hike in September is looking more likely and the markets will see red, says John Kilduff.

  • $45-$55 the new range for oil: Analyst

    Sentiment in the oil market remains bearish because OPEC production continues to be at record high, says Amrita Sen, chief oil analyst at Energy Aspects.

  • he Wilmington ARCO refinery is seen before dawn on December 19, 2003 in Los Angeles, California.

    J.P. Morgan's Scott Darling says that it is unlikely that OPEC producers will reach a deal and that Brent will fall to $40 at the end of the month.

  • London Brent crude for November delivery was down 49 cents, or 1.0 percent, at $47.52 a barrel by 2246 GMT on Sunday after settling down 4 percent on Friday. Algeria's energy minister said there is a consensus among OPEC and non- OPEC members about the need to stabilize the oil market to support prices, state news agency APS reported on Saturday.