×

International Organizations OPEC

  • *Russian oil major says U.S. shale growth imperils OPEC deal. NEW YORK, March 13- Oil hovered around three-month lows on Monday, as rising inventories and drilling activity in the United States, the world's top energy consumer, offset optimism over OPEC's efforts to restrict crude output and reduce a global glut. Brent crude futures fell 7 cents to $51.30 a barrel by...

  • A worker stands at a pipeline, watching a flare stack at the Saudi Aramco oil field complex facilities at Shaybah in the Rub' al Khali ('empty quarter') desert in Shaybah, Saudi Arabia.

    Oil could easily hit 2016 lows. Here's what could crater the market, says John Kilduff.

  • *Rosneft sees "significant risk" OPEC won't extend cuts. MOSCOW, March 13- A recovery in U.S. oil output may deter OPEC and non- OPEC producers from extending production cuts beyond June and might lead to a new price war, Russia's top oil major said on Monday. Russia agreed to join OPEC supply curbs late last year despite initial opposition from Rosneft's boss Igor...

  • U.S. stock index futures pointed to a flat to slightly higher open on Monday morning as traders prepared for a probable interest rate hike later in the trading week.

  • SEOUL, March 13- Oil prices dropped to their lowest in three months on Monday despite OPEC efforts to curb crude output, dragged down as U.S. drillers kept adding rigs. Brent crude was down 11 cents, or 0.21 percent, at $51.26 per barrel by 0755 GMT, its lowest since Nov. 30. West Texas Intermediate crude declined 19 cents, or 0.39 percent, to $48.30 a barrel, also the lowest...

  • SEOUL, March 13- Oil prices dropped to their lowest in three months on Monday despite OPEC efforts to curb crude output, dragged down as U.S. drillers kept adding rigs. Brent crude had fallen 39 cents, or 0.8 percent, to at $50.98 per barrel by 0553 GMT, its lowest since Nov. 30. West Texas Intermediate crude declined 45 cents, or 0.9 percent, to $48.04 a barrel, also the...

  • SEOUL, March 13- Oil prices dropped to their lowest in three months on Monday despite OPEC efforts to curb crude output, dragged down as U.S. drillers kept adding rigs. Brent crude had fallen 35 cents, or 0.68 percent, to its lowest since Nov. 30 at $51.02 per barrel by 0231 GMT. OPEC and other major oil producers including Russia reached a landmark agreement late last...

  • OPEC members led by Saudi Arabia have reported nearly full compliance with output cuts announced last November, though performance remains very uneven across the group. OPEC enlisted support from 11 other countries to spread the burden of rebalancing and protect its market share but compliance from non- OPEC countries has been much lower.

  • SEOUL, March 13- Oil prices dropped to their lowest in three months on Monday despite OPEC efforts to curb crude output, dragged down as U.S. drillers kept adding rigs. Brent crude had by 0011 GMT fallen 42 cents, or 0.82 percent, to its lowest since Nov. 30 at $50.95 per barrel. OPEC and other major oil producers including Russia reached a landmark agreement last year to...

  • *OPEC's willingness to extend production cuts in doubt. NEW YORK, March 10- Oil skidded again on Friday, pushing prices to three-month lows as investors continued to flee bullish positions on worries that OPEC- led production cuts have not yet reduced a global glut of crude. U.S. crude settled down 79 cents, or 1.6 percent, to $48.49 a barrel, while Brent crude ended...

  • Oil prices gave up early gains under pressure from heavy oversupply despite OPEC-led production cuts.

  • *OPEC's willingness to extend production cuts in doubt. NEW YORK, March 10- Oil skidded again on Friday, pushing prices to three-month lows as investors continued to flee bullish positions on worries that OPEC- led production cuts have not yet reduced a global glut of crude. U.S. crude fell 84 cents, or 1.8 percent, to $48.44 a barrel, as of 1:22 p.m. ET.

  • March 10- U.S. drillers added oil rigs for an eighth week in a row to the most since September 2015, extending a ten-month recovery as energy companies boost spending to take advantage of a recovery in crude prices since OPEC agreed to cut production late last year. "We will not see the impact of this week's crude price collapse for another couple of months," James...

  • NEW YORK, March 10 (Reuters)- Oil prices fell for a third day on Friday, extending a selloff on heightened worries that OPEC- led production cuts have not yet reduced a global glut of crude. Senior Saudi officials told U.S. oil firms in a closed-door meeting they should not assume OPEC would extend output curbs to offset rising production from U.S. shale fields,...

  • *U.S. crude oil dropped below $50 on Thursday. LONDON, March 10- Oil prices steadied on Friday after dropping to their lowest in more than three months, pressured by heavy oversupply despite OPEC- led production cuts. Brent crude oil was down 10 cents at $52.09 a barrel by 1445 GMT, after falling 1.7 percent on Thursday and 5 percent the day before in its biggest...

  • OPEC members led by Saudi Arabia have reported nearly full compliance with output cuts announced last November, though performance remains very uneven across the group. OPEC enlisted support from 11 other countries to spread the burden of rebalancing and protect its market share but compliance from non- OPEC countries has been much lower.

  • LONDON, March 10- Oil prices recovered a little on Friday after dropping to their lowest in more than three months, pressured by heavy oversupply despite OPEC- led production cuts. Brent crude oil was up 20 cents at $52.39 a barrel by 1320 GMT, after falling 1.7 percent on Thursday and 5 percent the day before in its biggest percentage decline in a year.

  • *OPEC's willingness to extend production cuts in doubt. LONDON, March 10- Oil prices recovered a little on Friday after dropping to their lowest in more than three months, pressured by heavy oversupply despite OPEC- led production cuts. Brent crude oil was up 30 cents at $52.49 a barrel by 1200 GMT, after falling 1.7 percent on Thursday and 5 percent the day before in...

  • *OPEC's willingness to extend production cuts in doubt. LONDON, March 10- Oil prices recovered a little on Friday after dropping to their lowest in more than three months, pressured by heavy oversupply despite OPEC- led production cuts. Brent crude oil was up 35 cents at $52.54 a barrel by 0950 GMT, after falling 1.7 percent on Thursday and 5 percent the day before in...

  • *OPEC's willingness to extend production cuts in doubt. LONDON, March 10- Oil prices recovered a little on Friday after dropping to their lowest in more than three months, pressured by heavy oversupply despite OPEC- led production cuts. Brent crude oil was up 15 cents at $52.34 a barrel by 0900 GMT, after falling 1.7 percent on Thursday and 5 percent the day before in...