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International Organizations OPEC

  • Today on cnbc.com

    Our quote of the day comes from the late stage and film actress Tallulah Bankhead: "If I had my life to live again, I'd make the same mistakes, only sooner." There's no mistaking OPEC's latest move--as the oil organization seems to have agreed to cut production by some 500,000 barrels a day in February.

  • CNBC's Sharon Epperson: OPEC And Oil Dominate News

    It's all OPEC for the next 24 hours. But today on the floor of the New York Mercantile Exchange it was all about inventories. Crude prices rallied after a bullish inventory report from the U.S. Energy Department showed U.S. oil inventories slid by 4.3 million barrels, due to a large drop in crude imports.

  • U.S. Oil Inventories Down, While OPEC Reconsiders Output Cuts

    Oil prices jumped on news that U.S. crude inventory fell a surprising 4.3 million barrels last week when  analysts were only looking for a 600,000 barrel decline.  OPEC appears willing to pull back from more oil output cuts.

  • OPEC: Cutting Oil Production Or Not?

    The Organization of Petroleum Exporting Countries (OPEC) meets tomorrow in Abuja, Nigeria. The cartel is sending mixed signals about its next move. Some ministers are pushing for an additional cut on top of the 1.2 million-barrel reduction made back in October. But still other ministers are urging moderation. Mark Haines had two energy analysts on “Squawk on the Street” this morning.....

  • CNBC's Domm: The Market Outlook

    U.S. stocks are taxiing towards a slightly higher opening today as airline takeover activity is set to give the transports a lift. Retail sales data for November could also give the market some direction and provide further clues to the consumer this holiday season. MERGERS AT THE GATE: Our Phil Lebeau is reporting on takeover talks...

  • Wednesday Highlights

    Energy. Media. International Investing. Look for interviews on those subjects in our look at the year ahead. Our guests today are Tom Petrie, Vice Chairman of Merrill Lynch, Audrey Kaplan of Rochdale Investment International and Brian Stelter of TVnewser. We’ll also continue our “7 For ‘07” series of reports on important sectors of the economy, featuring Bob Pisani on stocks and Julia Boorstin on media and entertainment

  • CNBC's Domm: Markets Preview

    It's all about the jobs report today. World stock markets trend flat to lower ahead of the report and U.S. stocks are mixed ahead of the opening. The dollar remains in a tight range and oil traded higher over night on expectations OPEC may limit production again when it meets next week.

  • chavez_hugo_photo.jpg
    Venezuela's Chavez: More Oil Production Cuts

    Hugo Chavez easily won re-election as president of Venezuela on Sunday. Chavez called his re-election--a defeat for U.S. President George Bush. Chavez said he will continue to use Venezuela's oil to expand social welfare programs--and continue to challenge the U.S. in Latin America. It's no secret the two men don't like each other.

  • OPEC Sends Conflicting Signals on Cut

    OPEC ministers sent conflicting signals  on whether the group needed to reduce oil production further to bring markets back into equilibrium.

  • OPEC Chief Says Output Cut Likely

    OPEC is likely to trim production again, the president of the oil cartel said this morning, adding that he expects a cut of at least 500,000 barrels a day.

  • Angola Will Apply for OPEC Membership

    Angola, sub-Saharan Africa's second biggest oil producer, said it will apply to join OPEC, a move that should add more clout to the global producer group and the southern African nation.

  • Saudi Oil Minister Ali Naimi Hints At Even More Production Cuts

    OPEC could make oil production cuts for the second time this year--so says the Saudi Oil Minister Ali Naimi. He says supply continues to outweigh demand. But it's not a done deal. The oil organization could wait until their December meeting in Nigeria-- to assess the impact of the October cuts--before cutting even more production

  • Commodities tomorrow: Nat gas down, still above $5
    Commodities tomorrow: Nat gas down, still above $5   

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Nat gas was down on the day, but remained above $5. Oil was up slightly on the day. And gold was up, as well.