International Organizations OPEC

  • Oct 7- OPEC is back in charge of determining oil prices as Saudi Arabia works with Russia and archrival Iran to achieve output cuts, and only "a brave person" bets against this combination, closely followed oil bull Andy Hall says in his latest investor letter. "What is important is that Saudi Arabia and its GCC allies Kuwait and the UAE have agreed with their...

  • In an informal meeting in Algiers last month, OPEC agreed to reduce output to a range of 32.5-33.0 million barrels per day, in a bid to end the "production war" that has caused a supply glut and led to an over 50- percent slump in prices since mid-2014. The cartel is likely to seek support from non- OPEC members like Russia ahead of its next formal meeting in late November,...

  • Asia markets stumbled on Friday, with sentiment weighed by the pound's sharp drop, while traders awaited a key U.S. jobs report.

  • Commodities tomorrow:

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

  • NEW YORK, Oct 6- Oil rose more than 1 percent to four-month highs on Thursday, spurred by another informal OPEC meeting on output cuts and plunging U.S. crude inventories, with some saying the market has overshot itself with a near 15- percent gain in seven sessions. Saudi, Iranian and Iraqi energy ministers will be among key OPEC representatives to meet non- OPEC...

  • Oil

    Oil prices hit new highs going back to June after a surprisingly large drop in U.S. inventory levels provided support.

  • NEW YORK, Oct 6- Oil rose more than 1 percent to four-month highs on Thursday, spurred by another informal OPEC meeting on output cuts and plunging U.S. crude inventories, with some saying the market has overshot itself with a 15- percent gain in seven sessions. Saudi, Iranian and Iraqi energy ministers will be among key OPEC representatives to meet non- OPEC member...

  • NEW YORK, Oct 6- Oil rose about 1 percent, hitting four-month highs on Thursday, underpinned by news of another informal OPEC meeting on output cuts and surprise drop in U.S. crude stocks, though trading was choppy after a price gain of 15 percent in seven sessions. Saudi, Iranian and Iraqi energy ministers will be among key OPEC representatives to meet non- OPEC...

  • *Algerian oil minister says OPEC could cut more. A number of OPEC oil ministers plus Russia's energy minister set to attend an energy conference in Istanbul are expected to meet together informally although they are unlikely to make any new decisions, OPEC sources said. "It's' the trend is your friend' and that Russia will attend next week's producer meeting in...

  • ALGIERS, Oct 6- OPEC could cut production at its late-November meeting in Vienna by another 1 percent more than the amount agreed in Algiers last month if producers reckon it is needed, Algerian Energy Minister Nouredine Bouterfa told local Ennahar TV. He also told Ennahar that OPEC and non- OPEC members would hold an informal meeting in Istanbul on Oct. 8-13 to...

  • A man stands near gas burning off from a well in Saudi Arabia.

    Saudi Arabia's decision to cut crude oil prices raises serious questions about the kingdom's commitment to limiting production, analysts said.

  • *Algerian oil minister says OPEC could cut more. Brent crude futures were virtually unchanged at $51.85 per barrel at 1120 GMT, after hitting a high of $52.09 the previous day. "Optimism on the OPEC deal and surprising storage declines pushed oil prices to the upper end of the recent trading range.

  • ALGIERS, Oct 6- OPEC could cut production at its late November meeting in Vienna by another one percent more than the amount agreed in Algiers last month, if producers reckon it is needed, Algeria's Energy Minister Nouredine Bouterfa has told local Ennahar TV. He also told Ennahar that OPEC and non- OPEC members would hold an informal meeting in Istanbul Oct. 8-13 to...

  • LONDON, Oct 6- Oil prices were steady on Thursday, underpinned by a surprisingly large drop in U.S. inventory levels the previous day to stay within sight of this year's highs hit in June. Brent crude futures were unchanged at $51.86 per barrel at 0913 GMT, after hitting a high of $52.09 the previous day. "Optimism on the OPEC deal and surprising storage declines...

  • ALGIERS, Oct 6- OPEC could cut production at its November meeting in Vienna by another one percent more than the amount agreed in Algiers last month, if producers evaluate it is needed, Algeria's Energy Minister Nouredine Bouterfa has told local Ennahar TV. "We will evaluate the market in Vienna by the end of November and if 700,000 barrels are not enough, we will go...

  • OPEC COULD CUT PRODUCTION BY MORE THAN ALGIERS AGREEMENT IF NEEDED IN NOVEMBER- ALGERIA ENERGY MINISTER.

  • Will OPEC deal help oil prices rise?

    Valentijn van Nieuwenhuijzen, head of strategy, multi-asset, at NN Investment Partners, says he's not convinced oil prices will stabilize.

  • Oil won't go above $66, not even in 2019: Analyst

    There is a short-term floor on oil prices but rebalancing in oil is likely only in 2019, says Johannes Benigni, chairman of JBC Energy Group.

  • Commodities tomorrow:

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

  • *OPEC to meet with other producers in Istanbul next week. PIRA Energy Group, an influential New York- based consultancy, said it expects the glut that brought crude prices crashing from above $100 a barrel over two years ago will be gone by the second quarter of 2017. It also believes OPEC kingpin Saudi Arabia is trying to sustain prices at $50- $60.