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International Organizations OPEC

  • Commodities tomorrow:

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

  • In Iraq, OPEC's second-biggest producer, oil exports from the southern Basra ports reached a record high of 3.51 million barrels per day in December, the oil ministry said. OPEC members agreed in November on the first deal to cut oil output since 2008, limiting supplies to 32.5 million bpd starting Jan. 1 for six months. Iraq's oil ministry underscored that the...

  • An oil pump jack in the oil town of Gonzales, Texas.

    Oil prices tumbled on concern record Iraqi crude exports and rising U.S. output would undermine OPEC's efforts to curb global oversupply.

  • NEW YORK, Jan 9- Oil prices fell on Monday on signs growing U.S. output could undermine plans by other producers to cut supply, while sterling slumped following comments by British Prime Minister Theresa May alluding to an aggressive exit from the European Union. "We see the optimism surrounding OPEC and non- OPEC production cuts being counterbalanced by fears of...

  • NEW YORK, Jan 9- Oil prices were down 2.5 percent on Monday as signs that growing U.S. production and record Iraqi exports raised concerns that additional output would weigh on the market, effectively undermining efforts by OPEC to curb supplies. In Iraq, OPEC's second-biggest producer, oil exports from the southern Basra ports reached a record high of 3.51...

  • The Nigeria Union of Petroleum and Natural Gas Workers said it would make a final decision after its leaders meet officials from the ministries of petroleum and labour, as well as the state oil company, on Tuesday in the capital, Abuja. OPEC member Nigeria has already been hit by low crude prices and a wave of militant attacks in its southern Niger Delta oil hub...

  • *Russia cuts supply by 100,000 bpd in early Jan- sources. LONDON, Jan 9- Oil fell more than 2 percent on Monday as signs of growing U.S. production outweighed optimism that many other producers, including Russia, were sticking to a deal to cut supplies in a bid to bolster the market. "We see the optimism surrounding OPEC and non- OPEC production cuts being...

  • *Russia cuts supply by 100,000 bpd in early Jan- sources. LONDON, Jan 9- Oil fell 2 percent on Monday as signs of growing U.S. production outweighed optimism that many other producers, including Russia, were sticking to a deal to cut supplies in a bid to bolster the market. "We see the optimism surrounding OPEC and non- OPEC production cuts being counterbalanced by fears...

  • Prices have risen about 21 percent since the OPEC, which accounts for a third of global oil output, signed an agreement in November to curb supply. Brent crude futures were down 2.03 percent at $55.94 a barrel at 1214 GMT on Monday. "With OPEC putting a floor on oil prices, operators have greater confidence to drill and complete, although the early stages of the...

  • *Russia cuts supply by 100,000 bpd in early Jan- sources. LONDON, Jan 9- Oil fell on Monday as signs of growing U.S. production outweighed optimism that many other producers, including Russia, were sticking to a deal to cut supplies in a bid to bolster the market. "We see the optimism surrounding OPEC and non- OPEC production cuts being counterbalanced by fears of higher...

  • *Iran steps up sales from floating storage. LONDON, Jan 9- Oil fell by $1 a barrel on Monday as signs of growing U.S. production outweighed optimism that many other producers, including Russia, were sticking to a deal to cut supplies in a bid to bolster the market. "We see the optimism surrounding OPEC and non- OPEC production cuts being counterbalanced by fears of...

  • MOSCOW, Jan 9- Russia cut its oil production in early January by around 100,000 barrels per day from the previous month after an agreement with OPEC to cap global crude output, two sources from the energy sector told Reuters on Monday. He also said that Russia plans to reduce oil output by 200,000 bpd in the first quarter and reach the cuts of 300,000 bpd thereafter,...

  • *Iran exempted from OPEC output cut agreement. LONDON, Jan 6- Iran has sold more than 13 million barrels of oil that it had long held on tankers at sea, capitalising on an OPEC output cut deal from which it is exempted to regain market share and court new buyers, according to industry sources and data. The oil sold in recent months has gone to buyers in Asia including...

  • *Iran exempted from OPEC output cut agreement. LONDON, Jan 6- Iran has sold more than 13 million barrels of oil that it had long held on tankers at sea, capitalizing on an OPEC output cut deal from which it is exempted to regain market share and court new buyers, according to industry sources and data. The oil sold in recent months has gone to buyers in Asia including...

  • *Saudi Arabia, Abu Dhabi both cutting supplies. *Analysts doubt all OPEC producers will implement cuts. NEW YORK, Jan 6- Oil rose slightly on Friday on futures buying, ending the week higher, but gains were limited by a strong U.S. dollar and lingering doubts about whether OPEC producers would stick to a deal to cut output.

  • *Oil edges up; strong dollar, OPEC doubts make buyers cautious. NEW YORK, Jan 6- Stocks overcame early weakness, and the dollar and U.S. "There's still improvement to be made, especially with the labor force participation rate being low, but conditions seem to be close to what the Fed might be happy with," said Brian Jacobsen, chief portfolio strategist, at Wells Fargo...

  • Pump jacks in an oil field over the Monterey Shale formation near Lost Hills, Calif.

    Oil prices were choppy on Friday on concerns that not all OPEC producers will cut output in line with an agreement reached in November.

  • *Saudi Arabia, Abu Dhabi both cutting supplies. *Analysts doubt all OPEC producers will implement cuts. NEW YORK, Jan 6- Oil rose slightly on Friday as investors bought futures ahead of the weekend, but a strong U.S. dollar limited gains, as did lingering doubts about whether all OPEC producers would cut output in line with an agreement.

  • *Saudi Arabia, Abu Dhabi are both cutting supplies. NEW YORK, Jan 6- Oil rose slightly on Friday on increased buying ahead of the weekend, but a strong U.S. dollar and lingering doubts that not all OPEC producers would cut output in line with an agreement, pressured prices. Brent crude futures were trading 19 cents higher at $57.08 per barrel at 11:34 a.m. EST, after...

  • Oil worker drilling rig

    The pain in the U.S. energy sector — the biggest job cutter in both 2015 and 2016 — appears to be easing, according to recent data.