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International Organizations OPEC

  • TORONTO, Dec 2- Canada's main stock index eked out a small gain on Friday as miners rose as the price of gold climbed while energy stocks slipped after an OPEC deal earlier in the week propelled oil to its biggest weekly gain in years. The Toronto Stock Exchange's S&P/TSX composite index settled up 24.99 points, or 0.17 percent, at 15,052.52. "The trend is very...

  • *Oil reverses loss, marks strong week in wake of OPEC deal. NEW YORK, Dec 2- Bond yields fell on Friday as solid U.S. jobs data reinforced the view that the Federal Reserve would raise interest rates gradually, while stock and currency markets were cautious ahead of an Italian constitutional reform vote on Sunday. Crude futures rebounded on a weaker dollar, resuming a...

  • Traders work on the floor of the New York Stock Exchange.

    Stephen Weiss of Short Hills Capital Partners reviews the main factors driving stocks and how investors should be positioned for next week.

  • *Focus shifts to implementation and impact of OPEC deal. NEW YORK, Dec 2- Oil prices rallied for their best week in at least five years on Friday, steadying above $51 a barrel, following OPEC's decision to cut crude output to rein in a global glut that has weighed on prices for more than two years. After the deal was announced on Wednesday, the market focused on the...

  • A pump jack and pipes at an oil field near Bakersfield, California.

    Brent crude was on track for its biggest weekly rally since 2009 following OPEC's decision to cut crude output.

  • *Focus shifts to implementation and impact of OPEC deal. NEW YORK, Dec 2- Oil prices edged higher on Friday above $51 a barrel with Brent crude on track for its biggest weekly rally since 2009 following OPEC's decision to cut crude output in order to rein in a global glut. After the deal was announced on Wednesday, the market focused on the implementation and impact of...

  • *Focus shifts to implementation and impact of OPEC deal. NEW YORK, Dec 2- Oil prices edged higher on Friday, steady above $51 a barrel, with Brent crude on track for its biggest weekly rally since 2009, following OPEC's decision to cut crude output in order to rein in a global glut. After the deal was announced on Wednesday, the market will focus on the implementation...

  • Oil backs off OPEC deal gains

    CNBC's Jackie DeAngelis reports the latest on the oil markets.

  • *Focus shifts to implementation and impact of OPEC deal. NEW YORK, Dec 2- Oil prices steadied above $51 a barrel on Friday, with Brent crude on track for its biggest weekly rally since 2009, following OPEC's decision to cut crude output in order to rein in a global glut. After the deal was announced on Wednesday, the market's focus now shifts to the implementation and...

  • *First joint cut between OPEC and Russia since 2001. MOSCOW, Dec 2- Russia plans to use its November oil production, which was its highest in almost 30 years, as its baseline when it cuts output under this week's deal with OPEC, Deputy Energy Minister Kirill Molodtsov said on Friday. Under this week's follow-up agreement, the first between OPEC and Russia since 2001,...

  • DUBAI, Dec 2- OPEC will meet non- OPEC countries to finalise a global oil limiting pact on Dec. 10 in the Russian capital Moscow, two OPEC sources told Reuters on Friday. OPEC agreed this week to reduce output by around 1.2 million barrels per day beginning in January in a bid to reduce global oversupply and prop up prices. It hopes non- OPEC countries will contribute...

  • *First joint cut between OPEC and Russia since 2001. MOSCOW, Dec 2- Russia plans to use its post-Soviet era record high November oil production as its baseline when it cuts output under this week's deal with OPEC, Deputy Energy Minister Kirill Molodtsov said on Friday. Under this week's follow-up agreement, the first between OPEC and Russia since 2001, specific...

  • *Focus shifts to implementation and impact of OPEC deal. LONDON, Dec 2- Oil prices fell 1.5 percent to steady at around $53 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...

  • 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...