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International Organizations OPEC

  • *OPEC production seen hitting another record in Oct. NEW YORK, Nov 2- Oil prices tumbled 3 percent on Wednesday after a record weekly build in U.S. crude inventories stoked investor worries about a global supply glut, days after analysts estimated higher monthly OPEC crude output. The U.S. Energy Information Administration said crude inventories rose 14.4...

  • A Shell Oil facility in Carson, California

    Government data showed U.S. crude inventories rose by 14.4 million barrels, far beyond what the market was expecting.

  • YENAGOA, Nigeria Nov 2- Militants in Nigeria's southern Niger Delta oil hub attacked a pipeline operated by the Nigerian National Petroleum Corporation, the military and a witness said on Wednesday. It comes a day after leaders from the region, which is the source of most of the OPEC member's oil, met President Muhammadu Buhari and asked him to pull the army out of...

  • *OPEC production seen hitting another record in Oct. NEW YORK, Nov 2- Oil prices tumbled 3 percent on Wednesday after a record weekly build in U.S. crude inventories stoked investor worries about a global supply glut, days after analysts estimated higher monthly OPEC crude output. The U.S. Energy Information Administration said crude inventories rose 14.4...

  • Pipeline and crude storage tanks in Cushing Oklahoma.

    Oil prices plunged after a record 14.4 million barrel jump in U.S. crude supply, and they could continue to fall toward $40 a barrel, unless OPEC and global producers make progress on a production deal.

  • *OPEC production seen hitting another record in Oct. NEW YORK, Nov 2- Oil prices tumbled 3 percent on Wednesday after a record weekly build in U.S. crude inventories stoked investor worries about a global supply glut, days after analysts estimated higher monthly OPEC crude output. The U.S. Energy Information Administration said crude inventories rose 14.4...

  • NEW YORK, Nov 2- Oil prices tumbled 3 percent on Wednesday after a record weekly build in U.S. crude stocks added to worries of all-time highs in OPEC production that suggested little could be done to rein in a global glut. Crude prices have swung in recent weeks, with Brent hitting one-year highs of $53.73 and WTI 15- month peaks of $51.93 on OPEC plans to cut output...

  • *OPEC production seen hitting another record in Oct. NEW YORK/ LONDON, Nov 2- Oil prices fell for a fourth straight day on Wednesday, hitting five-week lows, as jittery investors awaited U.S. government data on crude stockpiles after a stunning build reported by a trade group that underlined the market's oversupply. The American Petroleum Institute said after...

  • *Nigeria and Libya boosting output. *Prices also pressured by fading hopes for OPEC output cut. "We have increasing production from Libya and Nigeria helping to create more surplus.

  • Dennis Gartman

    Dennis Gartman, editor and publisher of The Gartman Letter, says the group of oil producers often misleads markets.

  • *Nigeria and Libya boosting output. *Prices also pressured by fading hopes for OPEC output cut. "We have increasing production from Libya and Nigeria helping to create more surplus.

  • Oil prices likely lower as inventories build

    Matt Smith, Clipper Data, shares his outlook on oil prices as oil supplies build and uncertainty remains ahead of the OPEC meeting.

  • Oil jack pumps are pictured in the Kern River oil field in Bakersfield, Calif.

    A weak dollar boosted greenback-denominated commodities, but worries that OPEC cannot reduce a global glut kept oil prices near one-month lows.

  • Commodities tomorrow:

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

  • NEW YORK, Nov 1- Oil settled down on Tuesday after hitting one-month lows, ahead of data likely to show a U.S. crude inventory build and on renewed doubts about whether OPEC will follow through with proposed output cuts. The American Petroleum Institute, an industry group, will report weekly U.S. crude stockpiles numbers at 4:30 p.m. EDT ahead of official...

  • NEW YORK, Nov 1- Oil fell 1 percent on Tuesday, hitting one-month lows, as U.S. gasoline prices pared an early rally sparked by a pipeline blast and crude was also pressured by renewed doubts about whether OPEC will follow through with proposed output cuts. The American Petroleum Institute will report weekly inventory numbers at 4:30 p.m. EDT ahead of official...

  • NEW YORK, Nov 1- Oil prices edged higher on Tuesday as a weaker dollar boosted greenback-denominated commodities, although worries that OPEC will not do much to reduce a global glut kept the market near one-month lows. Brent hit one-year highs and WTI 15- month peaks in early October as OPEC kingpin Saudi Arabia talked up the plan, inviting non-member producers...

  • The market remains weighed down by record output from the world's largest exporters, and mounting uncertainty that OPEC and its rivals can do much to tackle a two-year global surplus. "But Brent has fallen back to the lowest since the meeting in Algiers and basically, most, if not all of the OPEC premium has been wiped out and speculators are still very long in crude...

  • The market remains weighed down by record output from the world's largest exporters, and mounting uncertainty that OPEC and its rivals can do much to tackle a two-year global surplus. "But Brent has fallen back to the lowest since the meeting in Algiers and basically, most, if not all of the OPEC premium has been wiped out and speculators are still very long in crude...

  • TOKYO, Nov 1- Oil prices rose from one-month lows in Asian trading on Tuesday after OPEC agreed on a long-term strategy that was seen as an indication the cartel was reaching a consensus on managing production. West Texas Intermediate futures were up 23 cents at $47.09 a barrel at 0725 GMT. I'm still bearish on oil in the sense that the OPEC deal won't be realized, "...