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International Organizations OPEC

  • Adherence to OPEC deal will be key: Pro

    Michael O'Sullivan, chief investment officer for international wealth management at Credit Suisse, talks about where the market goes from here after OPEC secured a production deal.

  • ‘Big elephant in room’ at OPEC meeting was US shale: Pro

    Chris Weafer, senior partner at Macro-Advisory Ltd, talks about the price of oil and where it’s heading, when commenting on Russia’s involvement in the market.

  • TOKYO, Dec 1- Japan's Nikkei ended at its highest since last December on Thursday, led by mining stocks after OPEC agreed to cut crude output for the first time since 2008 to support oil prices, while a weak yen lifted overall sentiment. The Nikkei share average gained 1.1 percent to 18,513.12, the highest closing level since Dec. 30, 2015. The broader Topix added 0.9...

  • Nigeria oil min: Non-OPEC countries helping carry burden

    CNBC’s Steve Sedgwick sits down with Nigeria’s oil minister, who explains why the OPEC deal is so important, and the significance of compliance.

  • *OPEC agrees 1st cut since 2008; Russia also to join. SINGAPORE, Dec 1- Oil prices shot up 13 percent, smashing trading volume records, after OPEC and Russia cut a deal to reduce output to drain a global supply glut, but analysts warned they could remain modest by historical comparison as other producers fill the gap. The deal also included the group's first...

  • SHANGHAI, Dec 1- China's yuan weakened against the dollar on Thursday, but losses were capped by state-owned banks selling the U.S. currency in the domestic market to offset pressure from the stronger greenback, traders said. The dollar's renewed strength came as oil prices jumped around 9 percent as oil cartel OPEC agreed to cut output. The People's Bank of China...

  • OPEC deal just a short term boost: Morningstar

    Lorraine Tan at Morningstar is skeptical the OPEC deal will hold as the structural oversupply persists.

  • *OPEC agrees 1st cut since 2008; Russia also to join. SINGAPORE, Dec 1- Oil prices shot up more than 12 percent, smashing trading volume records, after producer club OPEC and Russia cut a deal to reduce output to drain a global supply glut, but analysts warned prices could recede as other producers stand by to fill the gap. The deal also included the group's first...

  • SHANGHAI, Dec 1- Hong Kong stocks rose to a three-week high on Thursday morning as energy sector rallied after OPEC agreed to a deal to reduce production, while markets in China rebounded after a survey showed factory activity picked up speed last month. Zhang Qi, analyst at Haitong Securities in Shanghai, said markets cheered an oil price surge and expects...

  • *Euro capped by concerns over Italy's referendum. TOKYO, Dec 1- The dollar touched a 9-1/ 2- month high against the yen on Thursday, as oil prices surged after OPEC agreed to output cuts- lifting inflation expectations and U.S. bond yields. The dollar's rebound came as oil prices jumped around 9 percent on Wednesday as OPEC members agreed to cut production, its first...

  • *Higher oil prices power dollar above 114 yen, lifting shares. TOKYO, Dec 1- A weaker yen helped power Japan's Nikkei share average to 11- month highs on Thursday, while many energy shares made strong gains after OPEC agreed to cut crude output for the first time since 2008 in order to boost oil prices. The Organization of the Petroleum Exporting Countries, which...

  • Spot gold was down 0.4 percent at $1,168.60 an ounce earlier. The U.S. dollar was broadly firm, hitting 9-1/ 2 month highs against the yen, as oil prices surged after OPEC agreed to output cuts- lifting inflation expectations and U.S. bond yields. "Gold has been sensitive to the U.S. monetary policy and dollar movements," said Mark To, head of research at Hong Kong's Wing...

  • *OPEC agrees 1st cut since 2008; Russia also to join. SINGAPORE, Dec 1- Oil shot up over 10 percent after producer club OPEC and Russia cut a deal to reduce output to drain a global supply glut, but analysts warned prices could recede as other producers stand ready to fill the gap. An additional cut of 0.6 million bpd from non- OPEC countries could significantly add to...

  • *OPEC agrees on first output cut since 2008. TOKYO, Dec 1- Oil prices, and energy shares swept higher on Thursday after OPEC agreed to cut crude output to clear a glut, while the dollar and bond yields rose sharply on prospects that resulting inflationary pressures will lead to higher interest rates. The Organization of the Petroleum Exporting Countries on...

  • Not a lot of further upside for oil prices: Economist

    OPEC compliance issues may limit a big increase in oil prices, says AMP Capital Investors' Shane Oliver.

  • *OPEC agrees 1st cut since 2008; Russia also to join. SINGAPORE, Dec 1- Oil shot up over 10 percent after producer club OPEC and Russia cut a deal to reduce output to drain a global supply glut, but analysts warned prices could recede this month, while other producers stand ready to fill the gap in the longer term. An additional cut of 0.6 million bpd from non- OPEC...

  • When it comes to OPEC, proof is in the pudding: Expert

    OPEC spent the past year jawboning so the output cut might just bring production back to original levels, says Stephen Schork, editor of The Schork Report.

  • Indonesia suspends OPEC- membership after recently rejoining. VIENNA, Dec 1- OPEC has agreed its first oil output cuts since 2008 after Saudi Arabia accepted "a big hit" on its production and dropped its demand on arch-rival Iran to slash output, pushing up crude prices by around 10 percent. "OPEC has proved to the sceptics that it is not dead.

  • The logo of OPEC is pictured at the OPEC headquarters on the eve of the 171th meeting of the Organization of the Petroleum Exporting Countries in Vienna, on November 29, 2016.

    OPEC on Wednesday agreed to its first oil output limits in eight years, triggering an oil rally, but market watchers were asking whether members will cheat.

  • *Spot gold was mostly unchanged at $1,172.24 an ounce by 0046 GMT. *The U.S. dollar was broadly firm, hitting 9-1/ 2 month highs against the yen as oil prices surged after OPEC agreed to output cuts- lifting inflation expectations and U.S. bond yields. *With the U.S. economy making good progress toward full employment and inflation heading toward the Fed's 2- percent...