International Organizations OPEC

  • MOSCOW, Dec 7- Russian companies support Energy Ministry proposals to cap oil output as part of a global deal, a ministry spokeswoman said on Wednesday as Moscow prepares to finalize the agreement with OPEC and other producer nations this weekend. Novak plans to visit Vienna on Dec. 10 following OPEC's output decision last week. CEO Igor Sechin, Russia's most...

  • NEW YORK, Dec 7- Oil prices slipped on Wednesday ahead of a U.S. petroleum inventory report and on doubts production cuts promised by OPEC and Russia would be deep enough to end a supply overhang that has weighed on markets for more than two years. The U.S. Energy Information Administration will release crude data for the week ended Dec. 2 at 10:30 a.m. EST on...

  • LONDON/ NEW YORK, Dec 7- As far as one of the world's biggest commodities traders, Glencore's chief Ivan Glasenberg, is concerned, the oil market will be at the mercy of "a cat and mouse game" between OPEC and its U.S. shale rivals in the coming year. This will probably mean no life-support for the higher-cost producers, at least as further-out prices remain below $60 per...

  • LONDON, Dec 7- Oil prices slipped on Wednesday on doubts production cuts promised by OPEC and Russia would be deep enough to end a supply overhang that has weighed on markets for more than two years. Oil prices surged almost 20 percent after the Organization of the Petroleum Exporting Countries and Russia announced last week that they would cut production next...

  • TORONTO, Dec 7- The Canadian dollar was little changed against its U.S. counterpart on Wednesday, trading in a narrow range as oil fell and the market braced for the Bank of Canada's interest rate decision. But data on Tuesday showed a disappointing drop in export volumes and oil, one of Canada's major exports, has pared some gains since the OPEC deal.

  • LONDON/ NEW YORK, Dec 7- As far as one of the world's biggest commodities traders, Glencore's chief Ivan Glasenberg, is concerned, the oil market will be at the mercy of "a cat and mouse game" between OPEC and its U.S. shale rivals in the coming year. This will probably mean no life-support for the higher-cost producers, at least as further-out prices remain below $60 per...

  • OPEC is relying on continued growth in U.S. gasoline consumption, as well as other fuels, coupled with faster growth in demand from emerging markets, to help rebalance the oil market in 2017.. Gasoline demand depends on continued GDP growth in the United States, where the expansion is becoming increasingly mature, and the transition to a new administration has...

  • LONDON, Dec 7- Oil prices slipped on Wednesday on doubts production cuts promised by OPEC and Russia would be deep enough to end a supply overhang that has weighed on markets for more than two years. Oil prices surged almost 20 percent after the Organization of the Petroleum Exporting Countries and Russia announced last week that they would cut production next...

  • LONDON, Dec 7- Oil prices steadied on Wednesday as investors waited to see if OPEC and Russia would deliver promised production cuts designed to end a supply overhang that has weighed on the market for more than two years. Oil prices surged almost 20 percent after the Organization of the Petroleum Exporting Countries and Russia announced last week that they...

  • *Oil dips on doubts over impact of OPEC deal. LONDON, Dec 7- European shares followed Asian stocks higher on Wednesday, buoyed by reports Italy would step in to rescue troubled bank Monte dei Paschi and expectations the European Central Bank would extend its bond-buying stimulus scheme this week. The pan-European STOXX 600 index rose 0.8 percent, led by banks, and...

  • LONDON, Dec 7- Oil prices steadied on Wednesday as investors waited to see if OPEC and Russia would deliver promised production cuts designed to end a supply overhang that has weighed on the market for more than two years. Oil prices surged as much as 19 percent after the Organization of the Petroleum Exporting Countries and Russia announced last week that they...

  • ABU DHABI, Dec 7- OPEC's deal to cut oil production will go ahead even if Russia becomes the only non- OPEC country to commit to reduce output at a meeting this week, Nigeria said on Wednesday, while the UAE voiced optimism that other producers would participate. "Yes, we will go ahead, but we will continue to work on the rest to come onboard," Nigerian Oil Minister Emmanuel...

  • LONDON, Dec 7- Oil prices slipped on Wednesday on doubts that promised production cuts by OPEC and Russia would be deep enough to end a supply overhang that has weighed on the markets for more than two years. Oil prices surged as much as 19 percent after the Organization of the Petroleum Exporting Countries and Russia announced last week that they would cut...

  • SINGAPORE, Dec 7- Oil prices slipped on Wednesday on persistent doubts whether a planned crude production cut led by OPEC and Russia would be deep enough to end a supply overhang that has dogged markets for over two years. Since the deal was announced, both OPEC and Russia have since reported record production. "With both Russia and OPEC producing at record, the...

  • SINGAPORE, Dec 7- Oil prices slipped on Wednesday on persistent doubts whether a planned crude production cut led by OPEC and Russia would be deep enough to end a supply overhang that has dogged markets for over two years. Since the deal was announced, both OPEC and Russia have since reported record production. "With both Russia and OPEC producing at record, the...

  • *Oil snaps rally that followed OPEC meeting. TOKYO, Dec 7- Asian shares rose on Wednesday as investors covered short positions and looked to the coming policy meeting of the European Central Bank for comfort after a referendum defeat tipped Italy into political turmoil. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.25 percent while...

  • SINGAPORE, Dec 7- Oil prices slipped on Wednesday on persistent doubts whether a planned crude production cut led by OPEC and Russia would be deep enough to end a supply overhang that has dogged markets for over two years. OPEC and non- OPEC oil producers will meet this weekend in Austria's capital to agree details of the output cut, which targets an overall...

  • *Seven tankers send U.S. crude worth about $150 million to Asia. SINGAPORE, Dec 7- Oil major BP is shipping almost 3 million barrels of U.S. crude to customers across Asia, pioneering a lengthy and complex operation likely to become more popular after OPEC last week announced deep production cuts. Now, using its global shipping and trading network, BP was able to...

  • *Oil snaps rally since OPEC meeting. TOKYO, Dec 7- Asian shares edged up on Wednesday as investors covered short positions and looked to the upcoming policy meeting of the European Central Bank for comfort after a referendum defeat tipped Italy into political turmoil. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.25 percent while Japan's...

  • SINGAPORE, Dec 7- Oil prices fell on Wednesday on persistent doubts a planned crude production cut led by OPEC and Russia would be deep enough to end a supply overhang that has dogged markets for over two years. "With both Russia and OPEC producing at record amounts, the market is scratching its head about how both blocs will manage to comply with the Vienna...