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International Organizations OPEC

  • Oil tanker

    The Baltic Dry Index climbed 50 percent over the course of November, but the OPEC deal to reduce oil production could hurt tanker shipping.

  • *Focus shifts to implementation and impact of OPEC deal. LONDON, Dec 2- Oil prices steadied at around $53.50 a barrel on Friday after the biggest weekly rally since 2009 following OPEC's decision this week to cut crude output in order to rein in a global glut. The market focus now shifts to the implementation and impact of OPEC's first production agreement since...

  • SINGAPORE, Dec 2- Oil prices dipped on Friday on concerns whether major producers would implement an OPEC-Russia deal to reduce production, compounded by data showing output in Russia rose to a post-Soviet high ahead of the announced cutback. The Organization of the Petroleum Exporting Countries and non- OPEC oil production giant Russia this week said they...

  • "While OPEC's adherence to the new allocations will be critical, the group demonstrated more cohesiveness than at any point since at least the 1.5 million barrels per day cut in 2008," said Jason Gammel of U.S. investment bank Jefferies in a report on Friday. International Brent crude oil futures were trading at $53.52 per barrel at 0704 GMT, down 42 cents, or 0.78...

  • OPEC taken good deal of share of output cuts: WL Ross & Co

    Shaia Hosseinzadeh, MD & head of energy and natural resources at WL Ross & Co, talks about whether we can expect more cuts from OPEC in the coming years.

  • OPEC consistent in putting floor on oil prices: WL Ross & Co

    Shaia Hosseinzadeh, MD & head of energy and natural resources at WL Ross & Co, talks about OPEC’s relationship with Russia when it comes to the oil market.

  • Brent and WTI futures had jumped more than 10 percent since Wednesday's agreement by OPEC members and Russia to reduce crude production by a combined 1.5 million barrels per day. Analysts are now focusing their attention on implementation of the deal, the first agreement since 2001 by the Organization of the Petroleum Exporting Countries and Russia to...

  • Credit Suisse explains why it likes emerging market debts, Chinese equities and oil-related currencies for 2017.

  • Oil prices in 2017 will be $45: Expert

    Tim Condon of ING Financial Markets talks about the OPEC output cut deal and how to play the global reflation trade.

  • International Brent crude oil futures were trading at $53.66 per barrel at 0242 GMT, down 28 cents, or 0.52 percent, from their last close. Brent and WTI futures had jumped more than 10 percent since Wednesday's agreement by OPEC members and Russia to reduce crude production by a combined 1.5 million barrels per day. Analysts are now focusing their attention on...

  • SINGAPORE, Dec 2- Oil prices extended gains early on Friday as producer cartel OPEC and Russia agreed to rein in a global oversupply in crude on Wednesday with analysts now focusing their attention on implementation of the deal. The Organization of the Petroleum Exporting Countries agreed on Wednesday its first oil output reduction since 2008 after de-facto...

  • SINGAPORE, Dec 2- Oil prices extended gains early on Friday as producer cartel OPEC and Russia agreed to rein in a global oversupply in crude on Wednesday with analysts now focusing their attention on implementation of the deal. The Organization of the Petroleum Exporting Countries agreed on Wednesday its first oil output reduction since 2008 after de-facto...

  • *Canadian dollar near 3- week high after OPEC- induced oil rally. TOKYO, Dec 2- The dollar sagged early on Friday against its peers as investors were cautious ahead of a looming U.S. jobs report that could set the tone in coming days. It was on track to lose 0.5 percent this week, with the index pulling back from a 13-1/ 2- year high of 102.05 scaled on Nov. 24 when it had...

  • The Organization of the Petroleum Exporting Countries reached the agreement on Wednesday after de-facto leader Saudi Arabia accepted "a big hit" and dropped a demand that archrival Iran also slash production. The Canadian dollar settled at C $1.3317 to the greenback, or 75.09 U.S. cents, stronger than Wednesday's close of C $1.3429, or 74.47 U.S. cents and its...

  • TORONTO, Dec 1- Canada's main stock index fell on Thursday, pulling back from an earlier new 17- month high as higher bond yields pressured defensive stocks, offsetting further gains for energy shares after a deal by OPEC to cut output boosted oil prices. The Toronto Stock Exchange's S&P/TSX composite index unofficially closed down 55.32 points, or 0.37 percent,...

  • Commodities tomorrow:

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

  • *Analysts say U.S. shale could fill supply gap left by OPEC. NEW YORK, Dec 1- Oil prices surged 4 percent on Thursday, with Brent crude at its highest in about 16 months, extending gains after OPEC and Russia agreed to restrict output to reduce the global supply glut more quickly. "It remains to be seen how well they stick to the plan, but if OPEC hadn't come to an agreement...

  • Workers connecting tubes on the Raven Oil Drilling rig near Watford City N.D.

    Brent crude rose above $54 a barrel for the first time in 2016 after OPEC and Russia agreed to restrict production.

  • Up to Wednesday's close, U.S. crude prices had fallen more than 52 percent since June 2014, after factoring in a 9 percent rise on Wednesday on news of an OPEC deal to cut output for the first time since 2008. Exxon Mobil Corp $20.50 $31.10 down 34 pct -10.60 down 19 pct Chevron Corp $26.60 $34.00 down 22 pct -7.40 down 16 pct. Devon Energy Corp $1.51 $5.30 down 72 pct...

  • *OPEC deal boosts oil sector. MILAN, Dec 1 (Reuters)- Italian shares rose to a three-week high on Thursday, outshining weaker European markets, with banks in demand as concerns eased over Sunday's referendum on Prime Minister Matteo Renzi's constitutional reform. The Pan-European STOXX 600 index fell 0.3 percent, while the Milan blue chip index rose 1 percent to...