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International Organizations OPEC

  • A worker checks the valve of an oil pipe at an oil field owned by Bashneft company near Nikolo-Berezovka, Bashkortostan, Russia.

    Russia's government will not order Russian oil companies to cut output as part of a deal with OPEC, RIA cited Deputy PM.

  • *Jury out on proposed OPEC oil production cuts. LONDON, Dec 8- Oil prices steadied around $50 a barrel on Thursday, close to the week's lows, on doubts proposed OPEC production cuts would be sufficient to balance the market, although a weaker dollar supported sentiment. OPEC members and oil producers outside the group will meet again this weekend in Vienna to...

  • SEOUL/ SINGAPORE, Dec 8- Oil prices erased early gains to trade almost flat in Asian session on Thursday on mixed U.S. crude stocks data and doubts over OPEC's implementation of an output cut, although a weaker dollar aided sentiment. International Brent crude futures were trading up 2 cents at $53.02 a barrel at 0807 GMT. U.S. benchmark West Texas Intermediate...

  • SEOUL/ SINGAPORE, Dec 8- Oil prices gave up some early gains to turn lower in Asian trade on Thursday on mixed U.S. crude stocks data and doubts over OPEC's implementation of an output cut, although a weaker dollar put a floor under prices. International Brent crude futures were trading down 16 cents at $52.84 a barrel at 0659 GMT from their last close.

  • OPEC is relying on continued growth in U.S. gasoline consumption, as well as other fuels, coupled with faster growth in demand from emerging markets, to help rebalance the oil market in 2017.. Gasoline demand depends on continued GDP growth in the United States, where the expansion is becoming increasingly mature, and the transition to a new administration has...

  • *Oil dips on U.S. inventory date, doubts on impact of OPEC deal. NEW YORK, Dec 7- U.S. stocks jumped to record levels and bond prices climbed on Wednesday as investors prepared for the European Central Bank to signal an extension of its bond-buying at its Thursday meeting. "The market does not have a lot of clarity on what the ECB would do tomorrow," said Jeffery Elswick,...

  • Commodities tomorrow:

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

  • *Oil dips on U.S. inventory date, doubts on impact of OPEC deal. NEW YORK, Dec 7- U.S. stocks rose along with bond prices on Wednesday as investors prepared for the European Central Bank to signal an extension of its bond-buying at its Thursday meeting. "There's a little bit of a bond market rally going on certainly in the long end so that means dividend stocks feel better,"...

  • NEW YORK, Dec 7- Oil prices slid on Wednesday on bearish U.S. petroleum inventory data and doubts that production cuts promised by OPEC and Russia would be deep enough to end a supply overhang that has weighed on markets for more than two years. Brent futures fell 93 cents, or 1.7 percent, to settle at $53.00 a barrel, while U.S. crude lost $1.16, or 2.3 percent, to settle at...

  • Pipeline and crude storage tanks in Cushing Oklahoma.

    Oil prices fell for second day as the market worried cuts promised by OPEC and Russia would not be deep enough to end a supply overhang.

  • *Nigeria plans to raise oil output sharply. NEW YORK, Dec 7- Oil prices eased on Wednesday on bearish U.S. petroleum inventory data and doubts that production cuts promised by OPEC and Russia would be deep enough to end a supply overhang that has weighed on markets for more than two years. "The report was bearish despite the overall crude oil drawdown," said John...

  • *Banks lead European shares higher, Wall St seen lower. *Oil dips on doubts over impact of OPEC deal. NEW YORK, Dec 7- Wall Street's rise was held back by health stocks on Wednesday while European stocks rose on reports Italy would step in to rescue troubled bank Monte dei Paschi and on expectations the European Central Bank would extend its bond-buying.

  • MOSCOW, Dec 7- Russian companies support Energy Ministry proposals to cap oil output as part of a global deal, a ministry spokeswoman said on Wednesday as Moscow prepares to finalize the agreement with OPEC and other producer nations this weekend. Novak plans to visit Vienna on Dec. 10 following OPEC's output decision last week. CEO Igor Sechin, Russia's most...

  • NEW YORK, Dec 7- Oil prices slipped on Wednesday ahead of a U.S. petroleum inventory report and on doubts production cuts promised by OPEC and Russia would be deep enough to end a supply overhang that has weighed on markets for more than two years. The U.S. Energy Information Administration will release crude data for the week ended Dec. 2 at 10:30 a.m. EST on...

  • LONDON/ NEW YORK, Dec 7- As far as one of the world's biggest commodities traders, Glencore's chief Ivan Glasenberg, is concerned, the oil market will be at the mercy of "a cat and mouse game" between OPEC and its U.S. shale rivals in the coming year. This will probably mean no life-support for the higher-cost producers, at least as further-out prices remain below $60 per...

  • LONDON, Dec 7- Oil prices slipped on Wednesday on doubts production cuts promised by OPEC and Russia would be deep enough to end a supply overhang that has weighed on markets for more than two years. Oil prices surged almost 20 percent after the Organization of the Petroleum Exporting Countries and Russia announced last week that they would cut production next...

  • TORONTO, Dec 7- The Canadian dollar was little changed against its U.S. counterpart on Wednesday, trading in a narrow range as oil fell and the market braced for the Bank of Canada's interest rate decision. But data on Tuesday showed a disappointing drop in export volumes and oil, one of Canada's major exports, has pared some gains since the OPEC deal.

  • LONDON/ NEW YORK, Dec 7- As far as one of the world's biggest commodities traders, Glencore's chief Ivan Glasenberg, is concerned, the oil market will be at the mercy of "a cat and mouse game" between OPEC and its U.S. shale rivals in the coming year. This will probably mean no life-support for the higher-cost producers, at least as further-out prices remain below $60 per...

  • OPEC is relying on continued growth in U.S. gasoline consumption, as well as other fuels, coupled with faster growth in demand from emerging markets, to help rebalance the oil market in 2017.. Gasoline demand depends on continued GDP growth in the United States, where the expansion is becoming increasingly mature, and the transition to a new administration has...

  • LONDON, Dec 7- Oil prices slipped on Wednesday on doubts production cuts promised by OPEC and Russia would be deep enough to end a supply overhang that has weighed on markets for more than two years. Oil prices surged almost 20 percent after the Organization of the Petroleum Exporting Countries and Russia announced last week that they would cut production next...