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International Organizations OPEC

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  • Commodities Tomorrow: Oil Tops $99 a Barrel Tuesday, 7 Feb 2012 | 4:00 PM ET
    Commodities Tomorrow: Oil Tops $99 a Barrel

    CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.

  • Saudis Aren't Keeping Lid on $100 Oil Price Everywhere Tuesday, 7 Feb 2012 | 11:16 AM ET

    Despite pronouncements by Saudi royalty and oil officials that that country will not let the price of oil go above $100 a barrel, Brent crude prices now appear poised to breach $120 a barrel.

  • BP to Keep Dividend Policy If Oil Rises: CEO Tuesday, 7 Feb 2012 | 6:13 AM ET
    Bob Dudley, the Executive Director of BP, arrives at their headquarters in St James's Square on July 26, 2010 in London, England.

    BP will continue its raised dividend policy on the back of higher profits for the oil company as long as oil prices continue their upward trajectory, the company's CEO Bob Dudley told CNBC Tuesday.

  • Saudi Arabia Will Not Let Oil Go Above $100: Prince Monday, 6 Feb 2012 | 5:29 PM ET
    prince_alwaleed_bin_talal_140.jpg

    An "element of fear" over Iran is playing into the price of oil despite higher supply and decreasing demand, Saudi Prince Alwaleed bin Talal al Saud told CNBC Monday.

  • Member of Iran's Revolutionary Guard

    An Iranian missile under construction, caught up in a mysterious blast in November, had a range of 6,000 miles, a senior Israeli official said Thursday in a speech outside Tel Aviv, the Christian Science Monitor reports.

  • Navistar, Pickens Group in Natural Gas Truck Deal Wednesday, 1 Feb 2012 | 12:02 PM ET
    Boone T. Pickens

    Clean Energy Fuels, noted investor T. Boone Pickens' natural gas distribution vehicle, got more gas Wednesday when Navistar International said it would start making truck engines that use alternative fuels.

  • Commodities Tomorrow: Oil Below $100 Tuesday, 31 Jan 2012 | 4:00 PM ET
    Commodities Tomorrow: Oil Below $100

    CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.

  • Iran Oil Ban Would Hurt EU, Boost Price: OPEC Monday, 30 Jan 2012 | 11:49 AM ET
    oilbarrels_money2.jpg

    Any decision by Iran to cut oil exports to the European Union will affect the price of oil and hurt the region's economy, OPEC Secretary General Abdalla Salem El-Badri told CNBC on Monday.

  • Gold

    Gold priced in euros broke above of key trend line Monday morning, as safe-haven buying and upward technical momentum continue to help the precious metal rally.

  • Commodities Tomorrow: Gas Futures Biggest Gainer Tuesday, 24 Jan 2012 | 4:00 PM ET
    Commodities Tomorrow: Gas Futures Biggest Gainer

    CNBC's Sharon Epperson discusses the day's activity in the commodities markets, including a number of refinery closures that could help drive the price of gasoline higher.

  • Iran: Closing Hormuz Strait to Deal With EU's Embargo? Tuesday, 24 Jan 2012 | 12:00 PM ET
    This satellite image shows the Strait of Hormuz, between the Persian Gulf and the Gulf of Oman. The Strait of Hormuz runs between Iran and United Arab Emirates.

    Iranian authorities have reacted to the decision by the European Union on an embargo by calling for an immediate halt to oil sales to the continent. In a statement on its website, the Iranian Oil Ministry described the European Union’s decision as “hasty” and “a political game”.

  • Commodities Next Week: EU's Iran Embargo & Oil Prices

    CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks ahead to where oil, natural gas and precious metals are likely headed next week.

  • Natural Gas Outlook: How Low Can it Go? Thursday, 19 Jan 2012 | 4:00 PM ET
    Natural Gas Outlook: How Low Can it Go?

    CNBC's Sharon Epperson reports on the continuous slide in natural gas prices, now at a 10-year low, and how investors who bet on a bounce are getting burned.

  • Inflation Falls in World's Top Oil Exporter Tuesday, 17 Jan 2012 | 9:56 AM ET
    Main roads in Riyadh are decorated with national flags and portraits of King Abdullah bin Abdul Aziz of Saudi Arabia on February 21, 2011 amid preparations to welcome the Saudi royal back as he is expected to return home later this week after convalescing in Morocco from operations in New York, according to a source close to the oil-rich Gulf monarchy. AFP PHOTO/FAYEZ NURELDINE (Photo credit should read FAYEZ NURELDINE/AFP/Getty Images)

    Inflation in the world’s top oil exporter Saudi Arabia has slowed to a four-year low of 5 percent in 2011, despite a significant ramp-up in government spending in the wake of the Arab Spring.

  • Iran Studying 'Hormuz Letter,' Warns Gulf Producers Monday, 16 Jan 2012 | 4:46 AM ET
    Straight of Hormuz map

    The Iranian Foreign Ministry has confirmed it has received a letter from the United States concerning the Strait of Hormuz, “via three different channels.” Authorities were considering whether to reply, although the contents of the letter were not divulged.

  • Iran Tension Will Keep Oil Prices High: Analyst Tuesday, 10 Jan 2012 | 6:30 AM ET
    Iranian navy conducts the "Velayat-90" naval wargames in the Strait of Hormuz in southern Iran on January 1, 2012. Iran defiantly announced that it had tested a new missile and made an advance in its nuclear programme after the United States unleashed extra sanctions that sent its currency to a record low.

    The tensions over Iran and threats from the West to apply sanctions on Iranian oil will see crude prices facing more of an upside risk in the near future, a commodities analyst told CNBC.

  • Euro Impact on Oil Tuesday, 10 Jan 2012 | 6:30 AM ET
    Euro Impact on Oil

    The fundamentals in the market are most likely to get more bearish because of the situation in Europe, says Michael Lynch, Strategic Energy & Economic Research president, who also adds any headlines coming out of the Middle East will spark concerns from traders.

  • Straight of Hormuz satellite image

    If Iran were to shut down the Strait of Hormuz, Brent crude would surge to between $150 and $200 a barrel, according to an oil analyst with Societe Generale.

  • Iran Looks to Venezuela as it Scrambles for Allies Monday, 9 Jan 2012 | 8:32 AM ET
    This satellite image shows the Strait of Hormuz, between the Persian Gulf and the Gulf of Oman. The Strait of Hormuz runs between Iran and United Arab Emirates.

    Iranian President Mahmoud Ahmadinejad’s five-day tour of Latin American countries comes at a time of rising tensions with the United States and growing international isolation. The US State Department described Iran’s search for friends as “desperate,” while US Treasury Secretary Timothy Geithner is expected to ratchet up the pressure in a visit to China and Japan.

  • What OPEC, the IEA Say About an Iran Embargo Thursday, 5 Jan 2012 | 6:28 AM ET
    Iranian Oil Imports.jpg

    Any European embargo of oil imports from Iran would have a direct effect not just on Iran, but also on the most prominent consumers of Iranian oil and refiners in the Mediterranean, according to a series of recent reports.