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International Organizations OPEC

  • Oil workers on a rig platform in Colorado.

    Oil prices gave up early gains as U.S. crude stocks data compounded supply glut concerns, offsetting support from a weaker dollar.

  • NEW YORK, Nov 3- Oil prices dipped on Thursday as investors were still reeling from a record weekly surge in U.S. crude inventories and many remained skeptical about whether OPEC will actually implement its planned output cap. U.S. crude was down 82 cents, or 1.8 percent, at $44.52 per barrel. Brent crude was down 65 cents, or 1.4 percent, at $46.21 a barrel by 1:31 p.m....

  • NEW YORK, Nov 3- Oil prices dipped on Thursday, with losses limited as an attack on a Nigerian pipeline cut the country's output even as investors remained skeptical about OPEC's planned production limit and surprised at a big build in U.S. crude inventories. Brent crude was down 20 cents, or 0.4 percent, at $46.66 a barrel by 11:05 a.m. EDT. U.S. crude was down 31 cents,...

  • Prices were underpinned by concerns about supply disruptions after militants in the Niger Delta attacked a pipeline operated by the Nigerian National Petroleum Corporation on Wednesday. Still, futures have not recovered to levels traded in October when market participants were cautiously optimistic that a preliminary agreement by OPEC to cap or cut...

  • Excess gas is burnt off at a pipeline at Rumaila oilfield in Basra, Iraq.

    With OPEC unable to make good on production cuts, the oil markets are in for another rough year, says John Kilduff.

  • Futures hit five-week lows on Wednesday after data showed stocks of oil in the United States had risen by a record amount last week, adding negative sentiment to doubts whether OPEC has the stomach to cap record crude production. On Thursday, prices were underpinned by concerns about supply disruptions after militants in Nigeria's southern Niger Delta oil...

  • OPEC deal bullishness has been eroded: Expert

    Reports of a U.S. crude inventory build was the reason for the fall in oil prices in the U.S., says S&P Global Platts' Mriganka Jaipuriyar.

  • YENAGOA, Nigeria Nov 2- Militants in Nigeria's southern Niger Delta oil hub attacked a pipeline operated by the Nigerian National Petroleum Corporation, the state oil company said on Wednesday, a day after regional leaders put a series of demands to the president. Community leaders from the Niger Delta, which is the source of most of the OPEC member's oil, met...

  • Pipelines and oil storage tanks in Cushing, Okla.

    U.S. crude oil in storage rose by the largest amount on record, and analysts are looking overseas for answers.

  • *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.