International Organizations OPEC

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  • An oil pump jack in Russia

    Russia said it was prepared to push oil production to historic highs, just days after a global deal to freeze output levels collapsed.

  • NEW YORK— Gabon's president says his country is in discussions with OPEC about re-joining the bloc of oil-producing countries. Gabon would be the 13- nation OPEC's smallest oil producer. OPEC ministers next meet in June.

  • CARACAS, April 20- Venezuela's proposal "for now" is that non- OPEC producers who participated in the recent Doha meeting to try to address a global oil glut attend a June OPEC meeting as observers, the South American country's oil minister said on Wednesday. "And we can renew discussions," Eulogio Del Pino told Reuters. "I anticipate that, without a deal, prices from now...

  • NEW YORK, April 20- Oil prices jumped on Wednesday as government data showed U.S. crude stocks rose slightly less than expected last week, while the U.S. dollar advanced against the euro ahead of Thursday's European Central Bank meeting. Moscow, however, denied media reports that Russia planned to host such a meeting. Last weekend, Russia and OPEC nations failed to...

  • Commodities tomorrow:

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

  • *Moscow denies reports OPEC, other producers meeting in Russia. Moscow, however, denied media reports that Russia planned to host such a meeting. Just on Sunday, Russia and OPEC nations failed to reach an agreement on freezing production at a meeting in Doha, Qatar.

  • *Moscow denies reports OPEC, other producers meeting in Russia. NEW YORK, April 20- Oil prices rose more than 3 percent on Wednesday after a smaller-than-expected U.S. crude build offset glut worries stirred by the end of a Kuwaiti strike and on speculation that major oil producers were meeting in Russia in May for another attempt at curtailing output.

  • MOSCOW, April 20- Russia said on Wednesday it was prepared to push oil production to new historic highs, just days after a global deal to freeze output levels collapsed and Saudi Arabia threatened to flood markets with more crude. Venezuela and top non- OPEC producer Russia had been the main proponents of the output freeze deal, in the making since February, until it...

  • LONDON, April 20- Iran is determined to recover its share of the world oil market following the lifting of sanctions, and can withstand low prices since it has sold oil for as little as $6 a barrel in the past, a source close to Iranian oil policy said. He added any agreement to restrain supply at the next OPEC meeting in June depended on Saudi Arabia and non-member...

  • Obama visit Saudi Arabia

    NBC News' Ron Allen reports on President Obama's trip to Saudi Arabia.

  • Saudi oil production pressure

    Tom Petrie, Petrie Partners chairman, provides insight on assessing value on Saudi Aramco IPOs.

  • An oil pump jack in Russia

    The OPEC meeting confirmed that the era of cheap oil has not come to an end. This is what charts predict

  • SAO PAULO, April 19- Latin American stocks and currencies rose on Tuesday as a recovery in oil prices boosted investor sentiment and fostered demand for risky assets. Crude prices jumped on Tuesday after a worker strike in Kuwait nearly halved output in the OPEC member nation. After the lower house voted for her impeachment, the Senate could ratify the decision...

  • Kuwaiti oil workers arrive at the union headquarter in Al-Ahmadi, 35 km south of Kuwait city, on April 17, 2016, to protest alleged pay cuts and plans to privatise parts of the oil sector.

    Kuwaiti oil and gas workers have ended a three-day strike, the trade union said in a statement posted on its Twitter account.

  • Kuwaiti oil workers arrive at the union headquarter in Al-Ahmadi, 35 km south of Kuwait city, on April 17, 2016, to protest alleged pay cuts and plans to privatise parts of the oil sector.

    Striking Kuwaiti oil workers temporarily disrupted oil production, but their short strike may send a message to other oil producing nations implementing austerity measures.

  • DUBAI, April 19- Kuwaiti oil and gas workers have ended a three-day strike that had temporarily cut the OPEC member's crude production by nearly half, the trade union said in a statement posted on its Twitter account. First, the cancellation of the general strike and the attendance of all oil sector workers at their places of work beginning at seven in the morning...

  • April 19- Kuwaiti oil and gas workers have ended a three-day strike that had temporarily cut the OPEC member's crude production by nearly half, local newspaper Al Jarida reported late on Tuesday, citing the trade union. News that the strike was over came just hours after Kuwait's oil minister had ruled out negotiations with the employees until they stopped...

  • Kuwaiti oil workers arrive at the union headquarter in Al-Ahmadi on April 17, 2016 to protest.

    U.S oil prices rose more than 3 percent after a strike by workers in Kuwait nearly halved the OPEC member's crude production.

  • But in a television interview after the announcement, Kuwait's oil minister ruled out negotiations with the employees until they stopped their action, signalling that a dispute which has nearly halved the OPEC member's crude production is deepening. "The strike is ongoing until the implementation of the demands of the workers," Farhan al-Ajmi, head of the...

  • Commodities tomorrow:

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