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International Organizations OPEC

  • *Some doubt OPEC will lower production as much as promised. NEW YORK, Jan 5- Oil prices rose on Thursday in an up-and-down session, lifted by news that Saudi Arabia had cut production to meet OPEC's agreement to reduce output after prices fell on data showing a surprisingly large increase in U.S. gasoline and distillate inventories. Oil has rallied 23 percent since...

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

  • A pump jack operates at a well site leased by Devon Energy Production Co. near Guthrie, Oklahoma.

    Oil prices rose in an up-and-down session, lifted by news Saudi Arabia had cut production to meet OPEC's agreement to cut output.

  • NEW YORK, Jan 5- Saudi Arabia cut oil output in January by at least 486,000 barrels per day to 10.058 million bpd, fully implementing OPEC's agreement to reduce output, according to a Gulf source familiar with Saudi oil policy. OPEC agreed to output cuts as of Jan. 1 that would bring production to 32.50 million bpd, in the first such decision since 2008.

  • *Some doubt OPEC will lower production as much as promised. NEW YORK, Jan 5- Oil prices rose on Thursday in an up-and-down session, lifted by news that Saudi Arabia had cut production to meet OPEC's agreement to cut output after falling on data showing a surprisingly large increase in U.S. gasoline and distillate inventories. Oil has rallied 23 percent since...

  • U.S. benchmark crude more than doubled in price since hitting a 13- year low in February last year to reach $55 a barrel on Tuesday, helped by producer group OPEC agreeing in late November to co-ordinate production cuts. "A lot of the budgets that we saw in the latter part of last year were factoring in a $50 oil environment and now we have touched $55 and have more...

  • *Saudi Arabia talks supply reductions with customers. *Some doubt OPEC will lower production as much as promised. NEW YORK, Jan 5- Oil prices slipped on Thursday after a surprisingly large increase in U.S. inventories of gasoline and distillates, slamming the brakes on an early rally on news that Saudi Arabia had started talks with customers about reducing crude...

  • TORONTO, Jan 5- Canada's main stock index on Thursday extended a rally that brought it near to an all-time high, as resource stocks rose with higher commodity prices and financial shares pushed higher. The energy group climbed 0.2 percent as oil prices rose after Saudi Arabia started talks with customers about a reduction in crude sales to support a plan by OPEC...

  • Jan 5- Saudi Aramco has started talks with customers globally to discuss possible cuts of 3 percent to 7 percent in February crude loadings to comply with OPEC production cuts, four sources with knowledge of the matter said on Thursday. The Organization of the Petroleum Exporting Countries agreed in late November to cut production in the first half of 2017 to...

  • *Some doubt OPEC will lower production as much as promised. LONDON, Jan 5- Oil prices rose on Thursday after Saudi Arabia started talks with customers about a reduction in crude sales to support a plan by OPEC to lower global supply. Investors have been suspicious that OPEC may not cut as much as promised, but several sources told Reuters on Thursday the world's...

  • *Loonie touches its strongest since Dec. 14 at C $1.3255. Prices of oil, one of Canada's major exports, rose after Saudi Arabia started talks with customers about a reduction in crude sales to support a plan by OPEC to reduce global supply. The currency's weakest level of the session was C $1.3312, while it touched its strongest since Dec. 14 at C $1.3255.

  • *Some doubt OPEC will lower production as much as promised. LONDON, Jan 5- Oil prices rose on Thursday after Saudi Arabia started talks with customers about a reduction in crude sales to support a plan by OPEC to lower global supply. Investors have been suspicious that OPEC may not cut as much as promised, but several sources told Reuters on Thursday the world's...

  • OPEC OUTPUT FALL IN DECEMBER LED BY NIGERIA AND SAUDI ARABIA; LIBYA, IRAQ AND IRAN PUMP MORE.

  • OPEC DECEMBER OIL OUTPUT FALLS 200,000 BPD MONTH/MONTH TO 34.18 MILLION BPD, DECLINING FROM RECORD HIGH- REUTERS SURVEY.

  • Jan 5- The following table shows OPEC crude oil output in millions of barrels per day in December and November, according to a Reuters survey published on Thursday. OPEC plans to begin reducing its output to 32.50 million bpd from Jan. 1 in its first supply cut decision since 2008 to prop up prices. *Indonesia suspended its OPEC membership on Nov. 30 although its...

  • *OPEC supply falls by 200,000 bpd to 34.18 million bpd. *OPEC output 1.68 mln bpd above output target agreed from 2017. The decline, the first since May according to Reuters surveys, occurred despite higher exports from second-largest OPEC producer Iraq and a further upward trend in Libyan output.

  • *Some doubt OPEC will cut production as much as promised. LONDON, Jan 5- Oil prices rose on Thursday after Saudi Arabia started talks with customers about a reduction in crude sales to support a plan by OPEC to reduce global supply. Investors have been suspicious that OPEC may not cut as much as promised, but several sources told Reuters on Thursday the world's...

  • *But doubts OPEC will cut production as much as promised. LONDON, Jan 5- Oil prices rose slightly on Thursday after reports Saudi Arabia had started talks with customers about a reduction of up to 7 percent in crude sales in February to support an attempt by OPEC to reduce global supply. Investors have been suspicious that OPEC may not cut as much as promised, but...

  • Jan 5- Saudi Aramco has started talks with customers globally to discuss possible cuts of 3 percent to 7 percent in February crude loadings to comply with OPEC production cuts, four sources with knowledge of the matter said on Thursday. The Organization of the Petroleum Exporting Countries agreed in late November to cut production in the first half of 2017 to...

  • Benchmark Brent crude oil was down 15 cents a barrel at $56.31 by 0900 GMT. But some investors suspect OPEC may not cut production as much as it has promised, keeping stockpiles high. "There remains a question mark over whether OPEC, with a long history of non-compliance, will actually follow through.