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International Organizations OPEC

  • *OPEC- led production cut is main support for prices. LONDON, Feb 7- Oil prices steadied on Tuesday as lower production by OPEC and other exporters balanced growing evidence of a revival in U.S. shale production and sluggish demand. "The general perception is that OPEC is cutting production, which is supporting prices, but high stock levels, rising rig counts and...

  • *OPEC cuts to have limited impact on BP in Abu Dhabi. LONDON, Feb 7- BP missed quarterly profit forecasts as annual earnings fell for a second year after average yearly oil prices hit their lowest in 12 years but said it expected producers' output cuts to keep prices above $50 a barrel this year. The oil major said it expected to be able to balance its books with an oil...

  • *OPEC- led production cut is main support for prices. Brent crude futures, the international benchmark for oil prices, were trading at $55.77 per barrel at 0753 GMT, up 5 cents from the last close. "$55 per barrel is quite obviously the pivot point in this market... and it has been for some time," said Matt Stanley, a fuel broker with Freight Investor Services in Dubai.

  • *OPEC- led production cut is main support for prices. Brent crude futures, the international benchmark for oil prices, were trading at $55.92 per barrel at 0245 GMT, up 20 cents from the last close. While OPEC and Russia have together cut at least 1.1 million bpd so far, rising output elsewhere as well as signs of slowing demand growth threaten to undermine these...

  • Brent crude futures, the international benchmark for oil prices, were trading at $55.96 per barrel at 0151 GMT, up 24 cents from the last close. While OPEC and Russia have together cut at least 1.1 million bpd so far, rising output elsewhere as well as signs of slowing demand growth threaten to undermine these efforts, traders said. "The number of oil rigs in the U.S. now...

  • Commodities tomorrow:

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

  • *OPEC and Russian oil supply cuts lend support. NEW YORK, Feb 6- Oil fell on Monday as ample U.S. supplies and excess speculative length outweighed OPEC output curbs and rising tensions between the United States and Iran. "We feel that the bulk of the price decline related to the larger-than-expected increase in net WTI speculative length as well as another hefty...

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

    Oil prices fell as a stronger dollar and ample U.S. supplies offset OPEC output cuts and rising tensions between the United States and Iran.

  • *U.S. dollar edges higher amid Europe political uncertainty. *OPEC and Russian oil supply cuts lend support. NEW YORK, Feb 6- Oil fell more than 1 percent on Monday as a stronger dollar, ample U.S. supplies and excess speculative length outweighed OPEC output curbs and rising tensions between the United States and Iran.

  • *Brent "rangebound" as buyers shy away above $57- PVM. *OPEC and Russian oil supply cuts lend support. LONDON, Feb 6- Oil slipped further below $57 barrel on Monday as a stronger dollar and ample U.S. supplies outweighed OPEC output curbs and rising tensions between the United States and Iran.

  • *OPEC and Russian oil supply cuts lend support. LONDON, Feb 6- Oil steadied near $57 barrel on Monday as OPEC supply cuts and rising tensions between the United States and Iran were countered by ample inventories and signs that higher prices will revive U.S. output. Despite the OPEC cuts, U.S. crude inventories rose by more than expected last week.

  • *Iran vows "roaring missiles" if threatened, defies new sanctions. *OPEC, Russia oil supply cuts lend support. LONDON, Feb 6- Oil steadied close to $57 barrel on Monday as rising tensions between the United States and Iran and OPEC supply cuts were countered by ample inventories and signs that higher prices will revive U.S. output.

  • A worker stands next to a pump jack at an oil field Sergeyevskoye owned by Bashneft company north from Ufa, Bashkortostan, Russia.

    The United States imposed sanctions on some Iranian individuals and entities after the White House put Tehran "on notice."

  • NEW YORK/ SINGAPORE Feb 3- Oil majors and trading houses are set to ship an unprecedented volume of U.S. crude oil to Asia in coming weeks, boosting already high flows to the region due to higher prices from OPEC production cuts. Traders have estimated that some 700,000 to 900,000 barrels per day is set to leave the United States in February, with the majority of the...

  • Feb 3- U.S. energy companies added oil rigs for a 13th week in the last 14, extending a nine-month recovery as drillers take advantage of crude prices that have held mostly over $50 a barrel since OPEC agreed to cut supplies in late November. Baker Hughes oil rig count plunged from a record 1,609 in October 2014 to a six-year low of 316 in May as U.S. crude collapsed...

  • *Trump prepared for new Iran sanctions. LONDON, Feb 3- Oil prices edged higher on Friday in response to the possibility of new sanctions on Iran after U.S. Comments by Russian energy minister Alexander Novak that oil producers had cut their output as agreed under a deal with OPEC also helped to support prices, analysts said.

  • President Donald Trump prepared for new Iran sanctions. LONDON, Feb 3- Oil prices edged higher on Friday in response to the possibility of new sanctions on Iran after U.S. Comments by Russian energy minister Alexander Novak that oil producers had cut their output as agreed under a deal with OPEC, also helped to support prices, analysts said.

  • ‘Encouraging’ signs that OPEC production has been cut back: IEA

    Neil Atkinson, head of the oil industry and markets division at IEA, talks about where the optimum level for the oil price is.

  • Neil Atkinson, head of the oil industry and markets division at IEA, comments on whether Trump’s travel ban has had any impact on the oil industry.

  • Commodities tomorrow:

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