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OPEC

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  • SINGAPORE, July 16- Saudi Arabia, the world's top crude oil exporter, has turned itself into a major refined-fuels power, offering customers millions of barrels of diesel and potentially triggering a price war with Asian competitors as its exports feed into a glut. Saudi Arabia, a leading member in the Organization of Petroleum Exporting Countries, had pledged...

  • Commodities tomorrow: Dollar drives oil down Thursday, 16 Jul 2015 | 4:00 PM ET
    Commodities tomorrow: Dollar drives oil down

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

  • *UK's biggest oilfield shut by power outage- traders. *OPEC output 2.5 mln barrels per day higher than demand. LONDON, July 16- Oil prices rose on Thursday after a power outage closed the UK's largest oilfield and following data showing a fall in crude inventories and strong demand from refineries in the United States.

  • UPDATE 5-Oil rises after UK North Sea oilfield outage Thursday, 16 Jul 2015 | 6:56 AM ET

    *UK's biggest oilfield shut by power outage- traders. *OPEC output 2.5 mln barrels per day higher than demand. LONDON, July 16- Oil prices rose on Thursday after a power outage closed the UK's largest oilfield, restricting flows to the North Sea's main oil stream that underpins the global benchmark Brent crude.

  • UPDATE 4-Oil prices rise as stock draw balances supply Thursday, 16 Jul 2015 | 5:35 AM ET

    *OPEC production around 2.5 mln bpd higher than demand. LONDON, July 16- Oil prices rose on Thursday after data showed U.S. crude inventories dropped and refinery demand was robust despite ample supply in the global oil market. Brent crude for August was up 75 cents at $57.80 a barrel by 0925 GMT.

  • *OPEC production around 2.5 mln bpd higher than demand. LONDON, July 16- Oil prices steadied on Thursday after data showed U.S. crude inventories dropped and refinery demand was robust, although the global market remained extremely well supplied. U.S. crude inventories fell by 4.3 million barrels last week, according to the Energy Information Administration, as...

  • Front-month U.S. crude futures were trading at $51.71 per barrel at 0115 GMT, up 30 cents from their last settlement. Iran, a member of the Organization of the Petroleum Exporting Countries has some of the world's biggest oil reserves. "Although Iran has around 20 million barrels of oil in storage, some of it is needed for operational reasons domestically and is...

  • Commodities tomorrow: Inventory down, dollar up Wednesday, 15 Jul 2015 | 4:00 PM ET
    Commodities tomorrow: Inventory down, dollar up

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

  • Commodities tomorrow: Dollar down, oil up Tuesday, 14 Jul 2015 | 4:00 PM ET
    Commodities tomorrow: Dollar down, oil up

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

  • CARACAS, July 14- Venezuela must refinance its foreign debt to improve government cash flow in the face of recession and soaring inflation, opposition leader Henrique Capriles said on Tuesday, but added a default would have "terrible consequences" for the country. The OPEC nation is struggling with the shrinking economy and chronic shortages of basic goods...

  • Commodities tomorrow: Traders eye Iran Monday, 13 Jul 2015 | 4:00 PM ET
    Commodities tomorrow: Traders eye Iran

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

  • UPDATE 1-OPEC sees more balanced oil market in 2016 Monday, 13 Jul 2015 | 7:20 AM ET

    *OPEC sees world oil demand growth to increase in 2016. LONDON, July 13- The global oil market should be more balanced next year as China and the developing world increase oil consumption while supply of shale oil from North America and other regions grows more slowly, OPEC said on Monday. World oil demand growth should outpace any increase in oil supply from non-...

  • Oil prices tank as Iran nuke deal looms Monday, 13 Jul 2015 | 6:25 AM ET
    Oil prices tank as Iran nuke deal looms

    The "Squawk Box" news team reports a deal with Iran on its nuclear program is expected soon.

  • OPEC sees more balanced oil market in 2016 Monday, 13 Jul 2015 | 6:21 AM ET

    *OPEC sees world oil demand growth to increase in 2016. LONDON, July 13- The global oil market should be more balanced next year as China and the developing world increase oil consumption while supply of shale oil from North America and other regions grows more slowly, OPEC said on Monday. This would outpace the growth of oil supply from non- OPEC sources and...

  • *Market awaits news on Iran nuclear talks; U.S. says no rush. Brent crude oil was up 31 cents at $58.92 a barrel by 0839 GMT. The IEA, the West's energy watchdog, said it expected global demand growth to slow next year to 1.2 million barrels per day from 1.4 million this year- far less than needed to balance stubbornly growing non- OPEC and OPEC supply.

  • Oil may have further to fall due to oversupply-IEA Friday, 10 Jul 2015 | 3:59 AM ET

    LONDON, July 10- Massive oversupply is likely to push oil prices down even further, the International Energy Agency said on Friday, adding that the rebalancing of the market was likely to last well into 2016.. Core members of the Organization of the Petroleum Exporting Countries have been pumping strongly for most of the last year in an attempt to regain market...

  • CARACAS, July 9- Venezuela's bolivar tumbled to a rate of more than 600 per U.S. dollar on Thursday, less than a week after it broke 500, according to a widely used website, as the socialist-run country's currency crisis balloons. A severe recession and a drop in oil prices have slammed the OPEC nation's ability to provide dollars through a complex three-tiered...

  • Commodities tomorrow: Buying the dip Thursday, 9 Jul 2015 | 4:00 PM ET
    Commodities tomorrow: Buying the dip

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

  • CARACAS, July 8- Venezuela's request to review a $46 million compensation claim it has been ordered to pay to oil service company Tidewater was rejected and the stay on the award's execution lifted, a World Bank tribunal said in a decision posted on its website on Wednesday. The South American OPEC country had sought a revision "based on what it describes as an...

  • Commodities tomorrow: Inventories up, crude down Wednesday, 8 Jul 2015 | 4:00 PM ET
    Commodities tomorrow: Inventories up, crude down

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