International Organizations OPEC

  • *Putin says Russia ready to join the proposed OPEC cap. ISTANBUL, Oct 11- Igor Sechin, Russia's most influential oil executive and the head of state-controlled energy giant Rosneft, said his company will not cap oil production as part of a possible agreement with OPEC. President Vladimir Putin told an energy congress on Monday that Russia was ready to join a...

  • LONDON, Oct 11- Global oil supply could fall in line with demand more quickly if OPEC and Russia agree to a steep enough cut in production, but it is unclear how rapidly this might happen, the International Energy Agency said on Tuesday. OPEC, led by Saudi Arabia, agreed last month to cut production to around 32.5 to 33 million barrels per day and Russia has signalled it...

  • Oil prices jumped as much as 3 percent on Monday, with Brent hitting a one-year peak, after Russia and Saudi Arabia both said a deal between the Organization of the Petroleum Exporting Countries and non- OPEC members like Russia in curbing crude output was possible. "Higher production from Libya, Nigeria and Iraq are reducing the odds of such a deal rebalancing the...

  • During the long weekend in Japan, German 10- year Bunds yield rose to a four-week high of 0.065 percent while U.S. 10- year Treasuries yield hit a four-month high of 1.771 percent. Brent oil futures hit a one-year high of $53.73 per barrel on Monday after Russia and Saudi Arabia both said a deal between the Organization of the Petroleum Exporting Countries and non-...

  • Will Russian-OPEC cooperation be a game changer?

    Russia might have agreed to back OPEC but the extent of their cooperation is unclear, says Azlin Ahmad, editor at Argus Media.

  • SINGAPORE, Oct 11- Asian shares were mostly lower on Tuesday, while oil prices hovered near one-year highs on growing expectations of an output cut by OPEC producers. The overnight gains came after Russia said it was ready to join the Organization of Petroleum Exporting Countries in limiting crude output and Algeria called for similar commitments from other...

  • Same old, same old in the oil markets?

    A tentative oil agreement might have been drawn up but no concrete action has been taken yet, says David Sokulsky, CIO at Crestone Wealth.

  • Russia president Vladimir Putin, said at the 23rd World Energy Congress in Istanbul that Russia was ready to join OPEC in curbing crude output.

    Russia may be ready to join OPEC’s efforts to curb oil supply, but concerns remain about whether the deal will rebalance the oil market.

  • Oct 11- Goldman Sachs said a planned oil output cut by producer cartel OPEC and other exporters like Russia has become a "greater possibility", but warned that any reduction likely won't be deep enough to re-balance markets in 2017.. OPEC's top producer Saudi Arabia said on Monday that a global deal to cut supplies could be reached at the group's next formal...

  • SINGAPORE, Oct 11- Oil prices edged down on Tuesday but held near one-year highs touched on growing expectations of an output cut by OPEC producers, with traders saying the price outlook remains bullish as confidence in crude markets rises. Oil prices jumped as much as 3 percent on Monday, with Brent hitting a one-year peak, after Russia and Saudi Arabia both said a...

  • SINGAPORE, Oct 11- Asian shares were mixed in early Asian trading on Tuesday after oil prices surged to a one-year high and optimism over Hillary Clinton's widening lead in the U.S. presidential election campaign pushed Wall Street higher. The gains came after Russia said it was ready to join the Organization of Petroleum Exporting Countries in limiting crude...

  • LONDON, Oct 10- Saudi Arabia successfully confounded hedge funds with bearish views on oil by reaching an unexpected production deal with OPEC members in Algiers on Sept. 28, sending prices soaring in a short-covering rally. Hedge funds' net position surged from 471 million barrels on the eve of the OPEC meeting to 612 million barrels seven days later.

  • SINGAPORE, Oct 11- Oil prices edged down early on Tuesday but held near one-year highs touched on growing expectations of an output cut by OPEC producers, and traders said the price outlook remains bullish as confidence in crude markets rises. "Oil rose to a one-year high on optimism regarding a future agreement between OPEC and major producers to restrict...

  • Oil prices won't go above $55: Strategist

    Oil markets are pushing towards a more balanced position and will be more rangebound, says Daniel Hynes, senior commodity strategist at ANZ.

  • Pressure on for Saudi Arabia in oil deal: Expert

    It's up Saudi Arabia to do the heavy lifting for any sort of agreement to work, says Matt Smith, director of commodity research at ClipperData.

  • Gartman: OPEC cheats

    Dennis Gartman, The Gartman Letter, discusses a potential OPEC agreement on production limits with the "Fast Money" traders.

  • Traders on the floor of the New York Stock Exchange.

    Stocks closed higher, led by energy, following the second presidential debate while investors digested a rise in oil prices.

  • Commodities tomorrow:

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

  • *Algeria expects non- OPEC "commitments" in Istanbul talks. NEW YORK, Oct 10- Oil prices jumped as much as 3 percent on Monday, with Brent hitting a one-year high, after Russia said it was ready to join OPEC in curbing crude output and Algeria called for similar commitments from other non- OPEC producers. "Russia is ready to join the joint measures to cap production and is...

  • LAGOS, Oct 10- General Electric confirmed its a "keen interest" in acquiring a Nigeria railway concession project worth around $2 billion, the U.S. company said on Monday. Growth in Nigeria- an OPEC member whose economy has slipped into recession for the first time in more than 20 years after being hammered by low oil prices- has been stunted for decades by a lack of...