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International Organizations OPEC

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  • How long can the Saudis hang on with cheap oil? Wednesday, 26 Aug 2015 | 1:52 PM ET
    Workers at an oil facility near Riyadh, Saudi Arabia.

    Saudi Arabia derives 80 percent of its revenue from oil and has a budgetary "break-even" point almost double the current per-barrel price of $40.

  • Commodities tomorrow: Traders sell gas futures Tuesday, 25 Aug 2015 | 4:00 PM ET
    Commodities tomorrow: Traders sell gas futures

    CNBC's Bertha Coombs discusses the day's activity in the commodities markets.

  • *Algeria, Iran air prospect of emergency OPEC meeting. *OPEC has not held emergency meeting for years. Although OPEC's statutes say support from a simple majority of the 12 members can trigger an extraordinary meeting, none will occur without support from Saudi Arabia, which has yet to give its blessing, OPEC delegates say.

  • Battle for oil dominance Tuesday, 25 Aug 2015 | 10:00 AM ET
    Battle for oil dominance

    CNBC's Phil Han reports on how some of the world's leading oil exporters are playing a game of chicken to see who will survive near record low oil prices.

  • LONDON, Aug 25- Saudi Arabia and its OPEC allies are counting on strong growth in demand coupled with slower growth in non- OPEC supply to rebalance the oil market in 2016.. But the experience of the "lost decade" after prices slumped in 1986 suggests rebalancing could take longer than some OPEC members and market analysts expect. Non- OPEC supplies were flat between...

  • DUBAI, Aug 25- Iran will ramp up crude oil production and reclaim its lost share of exports shortly after international sanctions on the OPEC member are lifted, Iran's oil minister Bijan Zanganeh said on Tuesday. Iran and six world powers agreed a deal in July to curb Tehran's nuclear programme, but sanctions imposed in 2012 will not be lifted until Iran has...

  • Oil rebound isn’t about fundamentals: Analyst Tuesday, 25 Aug 2015 | 3:30 AM ET
    Oil rebound isn’t about fundamentals: Analyst

    Neil Atkinson, head of analysis at Lloyd's List Intelligence, says Tuesday’s oil price rebound is on the back of the mild recovery in equities following Monday’s drubbing.

  • DUBAI, Aug 25- Iran plans to bring online two new gas operations in October after the OPEC member completes development of another section of the world's largest gas field, its oil minister said on Tuesday. Iran and Qatar share the field, which Iran calls South Pars and Qatar calls the North Field. It exports small quantities to Turkey but has been unable to increase...

  • Why OPEC will not reduce production Tuesday, 25 Aug 2015 | 12:17 AM ET
    Why OPEC will not reduce production

    Previous comments from the Organization of the Petroleum Exporting Countries (OPEC) indicate that member countries will likely stand firm on oil production at the next scheduled meeting in December, says OCBC's economist Barnabas Gan.

  • Commodities tomorrow: Crude's wild ride Monday, 24 Aug 2015 | 4:00 PM ET
    Commodities tomorrow: Crude's wild ride

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

  • OPEC 'feels the heat' on oil, but will they cut? Monday, 24 Aug 2015 | 1:19 PM ET
    The oil ministers of Qatar, Saudi Arabia and the United Arab Emirates attend the opening session of the Arab Energy Conference in Abu Dhabi.

    As the selloff in global markets drive down oil prices, analysts weigh odds that OPEC could be forced into a production cut.

  • LONDON, Aug 24- Saudi Arabia's strategy for rebalancing the oil market through a period of lower prices shows few signs of working so far- with rival producers claiming they will raise output even as prices slide to new lows. Within OPEC, other producers, principally Iraq and Iran, are determined to continue raising their output even as prices slump.

  • *Iran says OPEC meeting could help stabilise prices. It's all about China, " Carsten Fritsch, senior oil analyst at Commerzbank in Frankfurt, told Reuters Global Oil Forum. Brent oil was trading down $1.20, or 2.6 percent, at $44.26 a barrel at 0750 GMT, after hitting an intraday low of $44.00, its weakest since March 2009.

  • Brent oil lost 44 cents at $45.02 a barrel as of 0125 GMT after hitting its intraday low of $45.00 earlier the day. Iran's Oil Minister Bijan Zanganeh said on Sunday that holding an emergency OPEC meeting may be "effective" in stabilising the oil price, Iran's oil ministry news agency Shana reported. There was a similar call by Algeria earlier this month, which other...

  • SEOUL, Aug 24- U.S. crude futures edged down to around $40 a barrel on Monday, close to a 6-1/ 2- year low as investors continue to worry about weak demand as China's economy slows amid a global supply surplus. *Iran's Oil Minister, Bijan Zanganeh, said on Sunday that holding an emergency OPEC meeting may be "effective" in stabilizing the oil price, Iran's oil ministry news...

  • DUBAI, Aug 23- Iran's Oil Minister, Bijan Zanganeh, said on Sunday that holding an emergency OPEC meeting may be "effective" in stabilizing the oil price, Iran's oil ministry news agency Shana reported. Algeria said earlier this month that the Organization of Petroleum Exporting Countries could hold an emergency meeting to discuss the drop in oil prices but other...

  • DUBAI, Aug 23- Iran's Oil Minister, Bijan Zanganeh, said on Sunday that holding an OPEC emergency meeting may be "effective" to stop the oil price slump, Iran's oil ministry news agency Shana reported. "Iran endorses an emergency OPEC meeting and would not disagree with it," he told reporters in Tehran, according to Shana. While OPEC rules say a simple majority of the 12...

  • Commodities next week: China data hits oil Friday, 21 Aug 2015 | 4:00 PM ET
    Commodities next week: China data hits oil

    CNBC's Courtney Reagan discusses the day's activity in the commodities markets and looks ahead at where oil and precious metals are likely headed next week.

  • Barrel of US crude drops below $40 Friday, 21 Aug 2015 | 1:32 PM ET

    U.S. Oil bounced back a bit to close down 87 cents at $40.45, the lowest close since March 3, 2009. Meanwhile, even with sharply lower prices, Saudi Arabia and other OPEC nations haven't cut production. Meanwhile, OPEC production averaged 31.5 million barrels a day in July, a three-year high.

  • *Calls for emergency OPEC meeting rebuffed. DUBAI/ LONDON, Aug 21- Some of OPEC's Gulf members are concerned about the latest drop in oil prices which had not been expected, OPEC delegates said, but they see little chance of the exporting group diverting from its policy of defending market share. "There is a concern about the health of the Chinese economy, but as...