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International Organizations OPEC

  • LaForge: Oil is best energy source we have

    John LaForge, Wells Fargo Investment Institute head of real asset strategy, discusses where the oil market is heading as well as whether U.S. energy independence is likely.

  • An oil pump jack in the oil town of Gonzales, Texas.

    Oil prices fell below $51 a barrel as crude output rose in virtually every major export region despite plans to cut production.

  • *OPEC, Russian oil output at record highs. *Saudi price war could undermine OPEC promise. After rising over 15 percent over the four sessions since the Nov. 30 OPEC meeting, Brent futures fell $1.06, or 1.9 percent, to $53.88 a barrel by 1:26 p.m. EST.

  • Dec 6- U.S. stocks were little changed on Tuesday, as gains in telecom services were offset by losses in energy stocks following a drop in oil prices. Brent crude prices fell over 2 percent, the first decline in five days, after data showed an increase in output from major producers, just days after OPEC and Russia agreed to a production cut. U.S. stocks have climbed...

  • *OPEC, Russian oil output at record highs. *Saudi price war, Neutral Zone plan undermine OPEC promise. After rising over 15 percent over the four sessions since the Nov. 30 OPEC meeting, Brent futures were down $1.25, or 2.3 percent, to $53.69 a barrel at 10:13 a.m. EST.

  • Dec 6- Wall Street was slightly lower on Tuesday morning, as gains in financial stocks failed to make up for losses in energy stocks following a drop in oil prices. Brent crude prices fell 2.5 percent, the first decline in five days, after data showed an increase in output from major producers, just days after OPEC and Russia agreed to a production cut.

  • *Brent crude slipped 0.3 percent to $54.80, its first decline in five days as output rose in every major region despite plans by OPEC and Russia to cut production. *U.S. stocks have climbed since the Nov. 8 election, fueled by expectations of significant economic stimulus and cuts in corporate taxes and regulations under President-elect Donald Trump.

  • LONDON, Dec 6- OPEC will achieve some but not all of the production cuts the organization agreed last month, according to an informal survey of energy professionals conducted after the agreement was announced. Most energy professionals expect OPEC output will decline to around 33.0 million barrels per day in January 2017, down from 33.6 million bpd in October...

  • LONDON, Dec 5- OPEC has finally agreed to cut production, but only after two years of fruitless negotiations. So what changed to make an agreement possible now, after it had eluded negotiators at previous OPEC meetings? Saudi officials have long stated that it would only be possible to reach an OPEC agreement once Iran had normalized its output following the...

  • LONDON, Dec 5- OPEC has finally agreed to cut production, but only after two years of fruitless negotiations. So what changed to make an agreement possible now, after it had eluded negotiators at previous OPEC meetings? Saudi officials have long stated that it would only be possible to reach an OPEC agreement once Iran had normalized its output following the...

  • LONDON, Dec 5- OPEC has finally agreed to cut production, but only after two years of fruitless negotiations. So what changed to make an agreement possible now, after it had eluded negotiators at previous OPEC meetings? Saudi officials have long stated that it would only be possible to reach an OPEC agreement once Iran had normalized its output following the...

  • LONDON, Dec 5- OPEC has finally agreed to cut production, but only after two years of fruitless negotiations. So what changed to make an agreement possible now, after it had eluded negotiators at previous OPEC meetings? Saudi officials have long stated that it would only be possible to reach an OPEC agreement once Iran had normalized its output following the...

  • *Russia reported 30- year high output of 11.21 million bpd. *Russia, OPEC produce almost half of global oil demand. SINGAPORE, Dec 6- Oil prices eased on Tuesday as crude output rose in virtually every major export region despite plans by OPEC and Russia to cut production, triggering fears that a fuel glut that has dogged markets for over two years might last well into...

  • India's short-term growth is expected to slow as consumption falls but experts predict a strong rebound in fiscal 2018.

  • India's demand for oil is increasing

    Simon Flowers at Wood Mackenzie discusses how India will deal with potentially higher oil prices.

  • *Russia, OPEC produce almost half of global oil demand. SINGAPORE, Dec 6- Oil prices eased early in Asia as crude output rises in virtually every major export region despite plans by OPEC and Russia to cut production, triggering fears that a fuel glut that has dogged markets for over two years might last well into 2017.. That means that OPEC and Russia alone produced...

  • Italian Prime Minister Matteo Renzi give a speech after the results of the referendum on constitutional reforms at Palazzo Chigi on December 5, 2016 in Rome, Italy.

    U.S. equities closed higher on Monday, unfazed by a key vote in Italy which led to Prime Minister Matteo Renzi's resignation.

  • *Brent up 19 pct, WTI up 16 pct since OPEC deal on Nov. 30. *Iran to attend producers' meeting in Vienna. NEW YORK, Dec 5- U.S. crude futures strengthened Monday before retreating in post-settlement trade as the market lost confidence OPEC cuts would be sufficient to reduce oversupply given increased U.S. drilling.

  • Commodities tomorrow:

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

  • MEXICO CITY, Dec 5- Mexico will attend the upcoming Organization of the Petroleum Exporting Countries meeting in Vienna, Mexico's Energy Minister Pedro Joaquin Coldwell said on Monday. The meeting, between OPEC members and other oil producers, is set to take place on December 10. Joaquin Coldwell was speaking on the sidelines of a historic deep water oil tender...