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International Organizations OPEC

  • *OPEC cut 900,000 bpd in January- Petro-Logistics. Global benchmark Brent crude oil prices were down 5 cents at $55.47 a barrel at 1226 GMT, while U.S. crude futures traded up 9 cents at $53.26. First indications of compliance to that deal show that members have cut production by 900,000 barrels per day in January, according to Petro-Logistics, a company that tracks...

  • *OPEC cut 900,000 bpd in January- Petro-Logistics. Global benchmark Brent crude oil prices were down 25 cents at $55.26 a barrel at 1010 GMT, while U.S. crude futures slipped 8 cents to $53.09. He also added that Petro-Logistics' report that OPEC members had cut production by 900,000 barrels per day in January was "not very encouraging" because it implied that only 75...

  • *OPEC cuts will quickly reduce global crude inventory- ANZ. TOKYO, Jan 30- Oil prices extended declines on Monday, dragged down by signs of growing production in the United States that could partly offset output cuts by OPEC and other producers. London Brent crude for March delivery had dropped 28 cents to $55.24 a barrel by 0657 GMT, after settling down 72 cents on...

  • *OPEC cuts, Chinese output drop impact sour crude. From China to the United States to the shores of West Africa, the fastest-selling oil this year has been the so-called "heavy" or "sour" grades with a higher proportion of sulfur, which can make road fuels toxic and usually has to sell at a discount to other grades. The only two large OPEC producers of desirable "light"...

  • *OPEC cuts will quickly reduce global crude inventory- ANZ. TOKYO, Jan 30- Oil prices extended declines on Monday, dragged down by signs of growing output in the United States that could partly offset output cuts by OPEC and other producers. London Brent crude for March delivery had dropped 28 cents to $55.24 a barrel by 0417 GMT, after settling down 72 cents on Friday.

  • TOKYO, Jan 30- Oil prices extended declines on Monday, dragged down by signs of growing output in the United States that would partly offset production cuts by OPEC and other producers. London Brent crude for March delivery was down 26 cents at $55.26 a barrel by 0005 GMT after settling down 72 cents on Friday. "However we expect the reductions being made by OPEC will...

  • CARACAS, Jan 29- Venezuela's president on Sunday created an executive vice president post and named new vice presidents to lead PDVSA in what he described as a shake-up of the state oil company and an effort to root out corruption in the OPEC nation's principal industry. Venezuelan President Nicolas Maduro kept Eulogio Del Pino as PDVSA president but created a...

  • *OPEC- led group aims for 1.8 million bpd cut in first half. NEW YORK, Jan 27- Oil prices slipped on Friday, extending losses after data suggested drilling is ramping up in the United States, prompting investor concern about how effective OPEC and other producers will be at supporting prices by cutting supplies. "Supply is a big factor right now and you have the U.S....

  • Oil jack pumps are pictured in the Kern River oil field in Bakersfield, Calif.

    Oil prices slipped, giving up gains from earlier in the day, as market shifted its focus towards production increases in the United States.

  • Jan 27- U.S. energy companies this week added oil rigs for a 12th week in the last 13, extending an eight-month recovery as drillers take advantage of a deal by OPEC to cut production that has kept crude prices over $50 a barrel since early December. U.S. crude collapsed from over $107 a barrel in June 2014 to near $26 in February 2016. U.S. crude futures were trading...

  • *OPEC- led group aims for 1.8 million bpd cut in first half. NEW YORK, Jan 27- Oil prices slipped on Friday, extending losses after data suggested drilling is ramping up in the United States, easing the focus on efforts by OPEC and other producers to support prices by cutting supplies. U.S. crude futures for March delivery fell 98 cents, or 1.8 percent, to $52.80 a barrel at...

  • The results showed that Wall Street analysts overestimated how much the No. 2 U.S. oil producer could improve with cost cuts in the quarter after two years of lackluster results. Like many U.S. oil producers, Chevron has benefited from the OPEC oil cartel's move to curtail production, which has helped lift crude prices in recent months. The California- based...

  • Jan 27- U.S. energy companies this week added oil rigs for a 12th week in the last 13, extending an eight-month recovery as drillers take advantage of a deal by OPEC to cut production that has kept crude prices over $50 a barrel since early December. U.S. crude collapsed from over $107 a barrel in June 2014 to near $26 in February 2016. U.S. crude futures were trading...

  • People walk past UBS offices in New York

    European markets closed lower on Friday with investors digesting corporate earnings and fluctuations in currency markets.

  • A Chevron gas station in San Francisco.

    Chevron reported a second straight quarter of profits, but low oil and gas prices dragged the company to an annual loss.

  • LONDON Jan 27- OPEC oil output is set to fall by 900,000 barrels per day this month, a company that tracks OPEC supply said on Friday, pointing to a strong start by the exporter group in implementing a supply cut deal. "OPEC supply is on track to decrease by 900,000 bpd in January, suggesting a high level of compliance thus far into the production curtailment agreement,"...

  • *OPEC- led group aims for 1.8 million bpd cut in first half. NEW YORK, Jan 27- Oil prices slipped on Friday, giving up gains from earlier in the day, as the market shifted its focus towards production increases in the United States and away from efforts by OPEC and other producers to support prices by cutting supplies. "Supply is a big factor right now and you have the U.S....

  • TORONTO, Jan 27- Canada's main stock index slipped on Friday as some heavyweight natural resource stocks weighed, while electronics manufacturer Celestica Inc jumped to a 12- year high. The energy group retreated 0.6 percent as oil prices slipped on an increased focus on U.S. production increases that could lessen the impact of an OPEC agreement to reduce...

  • *Canadian dollar at C $1.3111, or 76.27 U.S. cents. U.S. crude prices were down 1.15 percent at $53.16 a barrel, giving up gains from earlier in the day, as the market shifted its focus towards production increases in the United States from efforts by OPEC and other producers to support prices by cutting output. At 9:32 a.m. ET, the Canadian dollar was trading at C...

  • *OPEC- led group aims for 1.8 million bpd cut in H1. LONDON, Jan 27- Oil prices slipped on Friday, giving up gains from earlier in the day, as the market shifted its focus towards production increases in the United States from efforts by OPEC and other producers to support prices by cutting supplies. "The market is really torn between a relatively healthy compliance...