International Organizations OPEC

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  • *OPEC- member Venezuela lobbies for producer meeting to cut output. SINGAPORE, Feb 4- U.S. crude oil prices extended gains from the previous session on Thursday, as a weaker dollar and ongoing yet unconfirmed talk of producers potentially meeting to discuss output cuts lifted the market despite record U.S. stocks. West Texas Intermediate crude futures were...

  • This is the pied piper for stocks Wednesday, 3 Feb 2016 | 7:04 PM ET
    A trader on the floor of the New York Stock Exchange.

    Oil and the dollar could be keys to Thursday's trading, after the dynamic duo sent markets on a wild ride Wednesday.

  • Oil jumps 8% as dollar tumbles after US data Wednesday, 3 Feb 2016 | 3:48 PM ET
    Workers at an oil well operated by a subsidiary of the KazMunayGas Exploration Production JSC in Kazakhstan, January 21, 2016.

    Oil prices jumped 8 percent higher, snapping a two-day rout, after investors took advantage of a weaker U.S. dollar.

  • Comments by Russia's Foreign Minister reiterating the major producer's willingness to meet if there was consensus among the OPEC and non- OPEC members, also reignited hopes of a deal to trim output and helped to boost prices as much as 7 percent. Brent futures rose $1.95, or 5.9 percent, to $34.67 a barrel by 1:12 p.m. EST, after rising as high as $34.93.

  • Recession odds 40 percent: Deutsche's LaVorgna Wednesday, 3 Feb 2016 | 11:37 AM ET
    A worker TIG welds aluminum on the production line at the Littman Brands Troy-CSL Lighting Inc. manufacturing facility in Los Angeles.

    The odds of a U.S. recession this year have risen to 40 percent, according to Deutsche Bank's chief U.S. economist, Joseph LaVorgna.

  • LONDON, Feb 3- Oil rose on Wednesday after Russia repeated its willingness to take part in talks with OPEC producers to cut output and boost prices, although analysts said rising U.S. crude inventories could put a brake on a bigger rally. Russian Foreign Minister Sergei Lavrov said if there is consensus among the Organization of the Petroleum Exporting...

  • NEW YORK, Feb 3- U.S. Oil rose after Russia reiterated its openness to talking with OPEC about output cuts, which helped revive hope among investors that the world's largest producers could act to boost prices. "Oil is up slightly and the ADP number was maybe a little bit stronger than what the market was looking for," said Gary Pollack, head of fixed income trading at...

  • Oil prices pared some losses after Russia reiterated its openness to talking with OPEC about output cuts, which helped revive hope among investors that the world's largest producers could act to boost prices. Oil prices have fallen about 70 percent in the past 18 months, hit by a growing glut and cooling economic growth in China and other emerging markets.

  • Stressed-out market may find some relief in this Wednesday, 3 Feb 2016 | 7:35 AM ET
    Traders work on the floor of the New York Stock Exchange

    Stressed-out markets will get a look Wednesday at the health of the U.S. services sector.

  • *Oil prices pared some losses after Russia reiterated its openness to talking with OPEC about output cuts, which helped revive hope among investors that the world's largest producers could act to boost prices. *Oil prices have fallen about 70 percent in the past 18 months, hit by a growing glut and cooling economic growth in China and other emerging markets.

  • LONDON, Feb 3- Oil rose on Wednesday, paring earlier losses after Russia reiterated its openness to talking with OPEC about output cuts, which helped revive hope among investors that the world's largest producers could act to boost prices. Russian Foreign Minister Sergei Lavrov said if there is consensus among the Organization of the Petroleum Exporting...

  • LONDON, Feb 3- Oil rose on Wednesday, paring earlier losses after fresh comments from Russia about its openness to talk with OPEC over output cuts helped revive hope among investors that the world's largest producers could act to boost prices. Russian Foreign Minister Sergei Lavrov said if there is consensus among the Organization of the Petroleum Exporting...

  • Asia sells off, Nikkei down 3.1%, ASX down 2.3% Wednesday, 3 Feb 2016 | 2:10 AM ET

    Asian stocks closed sharply lower on Wednesday, after Wall Street sold off as much as 2 percent overnight amid a plunge in oil prices.

  • US oil extends losses after inventory data Tuesday, 2 Feb 2016 | 4:48 PM ET
    An oil pumpjack operates near Williston, North Dakota.

    U.S. oil futures extended losses after data from the American Petroleum Institute showed a 3.8 million inventory build.

  • Shares of Exxon fell 2.3 percent to $74.54 after the oil major reported its smallest quarterly profit in more than a decade and forecast a 25- percent drop in capital spending from 2015 levels. Brent oil and U.S. crude fell as hopes faded for a deal between OPEC and Russia on output cuts. "The fact that slashed capex so much is an indication that another oil company is...

  • * "Highly unlikely" OPEC, Russia will cooperate- Goldman. The oil markets erased most of last week's four-day rally, when soared almost 20 percent from the lows touched in mid-January, after Russia's Energy Minister said OPEC kingpin Saudi Arabia suggested a production cut. This week though, those hopes have dimmed as no deal has emerged and talks between Russia's...

  • Feb 2- U.S. stocks extended their selloff in early afternoon trading on Tuesday as falling oil prices heightened concerns regarding the health of the global economy and investors sought safer investments. Brent oil fell nearly 6 percent, while U.S. crude briefly slid below $30 per barrel, as hopes for a deal between OPEC and Russia on output cuts faded.

  • Oil has fallen from $107 to around $30 in the past 19 months. Furious production by the U.S. and OPEC led to an oversupply. In a recent research note, Goldman Sachs predicted "the path to a rebalanced market will be protracted and arduous."

  • US STOCKS-Wall St dips as oil extends selloff Tuesday, 2 Feb 2016 | 11:35 AM ET

    Feb 2- Wall Street was sharply lower on Tuesday as falling oil prices heightened concerns regarding the health of the global economy and investors sought safer investments. Brent oil fell more than 5 percent, while U.S. crude briefly slid below $30 per barrel, as hopes for a deal between OPEC and Russia on output cuts faded. "We still haven't broken the correlation...

  • * "Highly unlikely" OPEC, Russia will cooperate- Goldman. NEW YORK, Feb 2- Oil fell on Tuesday, with U.S. crude briefly slipping below $30, dented by worries about demand amid a mild winter and concerns of rising supply as hopes for a deal between OPEC and Russia on output cuts fade. The oil market rallied for four straight days last week after Russia's Energy Minister said...