International Organizations OPEC

  • OPEC a dying organization of little relevance: Analyst

    History shows that Russia and OPEC haven't had much success by working together, says Gaurav Sodhi, senior analyst at Intelligent Investor.

  • Oil prices are a financial tool: Expert

    A stabilization rather than a reduction in oil production is more realistic in the oil markets, says Juerg Kiener, CIO at Swiss Asia Capital.

  • *OPEC pumps 33.39 mln bpd in Sept, highest in at least 8 yrs. SINGAPORE, Oct 13- Oil prices fell on Thursday after OPEC said its production had risen to the highest level in at least eight years and following reports of an increase in U.S. crude stockpiles. OPEC on Wednesday reported its oil production climbed in September to the highest in at least eight years and...

  • *OPEC pumps 33.39 million bpd in Sept, highest in at least 8 yrs. SINGAPORE, Oct 13- Oil prices fell on Thursday after OPEC said that its production had risen to its highest level in at least eight years and following reports of an increase in U.S. crude stockpiles. OPEC on Wednesday reported its oil production rose in September to the highest in at least eight years and...

  • *OPEC pumps 33.39 million bpd in Sept, highest in at least 8 yrs. SINGAPORE, Oct 13- Oil prices fell early on Thursday after OPEC said that its production had risen to its highest level in at least eight years and following reports of an increase in U.S. crude stockpiles. OPEC on Wednesday reported its oil production rose in September to the highest in at least eight...

  • Oil prices unlikely to go below $40: Analyst

    OPEC doesn't have a good track record in implementing oil production cuts but tough times call for tough measures, says Bernstein's Neil Beveridge.

  • MEXICO CITY, Oct 12- Mexico's currency and stocks fell on Wednesday after the U.S. Markets in Latin America's second largest economy were also hit by a slide in oil prices after OPEC reported that oil production rose in September to the highest in at least eight years. Mexico's peso slid 0.07 percent to 18.9135 per dollar.

  • *OPEC output hits 8- year highs in September. NEW YORK, Oct 12- Oil prices fell on Wednesday after OPEC reported another monthly hike in output and extended losses in post-settlement trade as industry data suggested the first U.S. crude inventory build in six weeks. It also forecast a rise in 2017 non- OPEC supply.

  • CARACAS, Oct 12- Venezuelan President Nicolas Maduro on Wednesday said oil was heading toward a "fair and realistic" price on the back of an OPEC deal to cut output.

  • Commodities tomorrow:

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

  • *Oil retreats after OPEC reports output at 8- year high. NEW YORK, Oct 12- Global equity markets remained slightly lower and the dollar a bit higher on Wednesday after minutes from a meeting of Federal Reserve policymakers last month indicated raising U.S. interest rates was warranted if the economy continued to strengthen. Sterling rebounded from a brutal...

  • *OPEC output hits 8- year highs in September. NEW YORK, Oct 12- Oil prices settled 1 percent lower on Wednesday after OPEC reported its September oil output hit eight-year highs, offsetting optimism over the group's pledge to bring a global crude glut under control. Adding weight to the market was the possibility that the American Petroleum Institute could...

  • People work at the Halfaya oilfield in Amara, southeast of Baghdad, Iraq.

    Three OPEC members expected to be exempt from a deal to cap production and Iraq increased output by a combined 300,000 barrels a day in September.

  • Oil

    Oil prices fell after OPEC reported its September oil output was at an eight-year high.

  • *OPEC output hits 8- year highs in September. NEW YORK, Oct 12- Oil prices fell about 1 percent on Wednesday after OPEC reported its September oil output at eight-year highs, offsetting optimism over the group's pledge to bring a global crude glut under control. Adding weight to the market was the possibility that the American Petroleum Institute could report the...

  • *Oil retreats after OPEC reports output at 8- year highs. NEW YORK, Oct 12- Global equity markets traded slightly lower and the dollar edged higher ahead of the release of Federal Reserve minutes on Wednesday that should provide a clearer picture on when policymakers will raise U.S. interest rates. Sterling rebounded slightly from a brutal selloff since last...

  • NEW YORK, Oct 12- Oil prices fell more than 1 percent on Wednesday after OPEC reported its September oil output at eight-year highs, offsetting optimism over the group's pledge to bring a global crude glut under control. Prices have rallied more than 10 percent this month on prospects that the Saudi-dominated Organization of the Petroleum Exporting Countries...

  • ISTANBUL, Oct 12- OPEC sought on Wednesday to build momentum for its plan to cap global oil production, saying it will extend invitations to more non-member producers after holding informal talks with Russia and Mexico in Istanbul. Representatives of OPEC and non- OPEC countries will hold a technical meeting on October 28-29 in Vienna to continue to discuss "a...

  • LONDON, Oct 12- Oil prices edged up on Wednesday, supported by record Indian crude imports and talks between OPEC producers and other oil exporters on curbing output to end a glut in the global market. Brent crude futures were up 26 cents at $52.67 a barrel by 1115 GMT. The prospect of countries from the Organisation of the Petroleum Exporting Countries and non- OPEC...

  • ABUJA, Oct 12- Nigeria's government is in advanced talks with its sovereign wealth fund and stock exchange to create a $500 million exploration fund and corporate mining bonds to attract investment, its mining minister said. The OPEC member has made boosting the mining sector a priority as a slump in crude sales, which provide 70 percent of government revenues,...