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International Organizations OPEC

  • *Markets oversupplied as OPEC production surges. NEW YORK, Nov 17- Oil prices rose on Thursday, with U.S. crude briefly rising as much as $1 a barrel, as expectations of an OPEC deal to limit production outweighed oversupply concerns, but a rallying dollar capped gains. Falih said he believed the market was on its way to becoming balanced and that an agreement by OPEC...

  • *Markets oversupplied as OPEC production surges. NEW YORK, Nov 17- Oil prices rose on Thursday, with U.S. crude briefly rising as much as $1 a barrel as expectations of an OPEC deal to limit production outweighed global oversupply concerns, but a rallying dollar capped gains. Saudi Energy Minister Khalid al-Falih said he was optimistic OPEC would formalise a...

  • *OPEC ready for "forceful" deal to cut output- Maduro. LONDON, Nov 17- Oil prices rose on Thursday as expectations of an OPEC deal to limit production outweighed evidence of global oversupply and rising inventories, particularly in the United States. Saudi Energy Minister Khalid al-Falih said he was optimistic OPEC would formalize a preliminary oil output deal...

  • *Saudi minister optimistic on final OPEC deal. RIYADH/ DOHA, Nov 17- The energy minister for top OPEC exporter Saudi Arabia said on Thursday he was optimistic about OPEC's deal to limit oil output and mentioned the lower end of a previously agreed production target, helping spur a rally in the price of crude. OPEC agreed on Sept. 28 to limit supply to between 32.5...

  • "The exports figures suggest that they will not give up a critical card that they are going to use in the OPEC negotiations to freeze or reduce OPEC production before they reach such an agreement at the November meeting," said Sadad al-Husseini, an energy consultant and former Saudi Aramco senior executive. OPEC is in talks with major non- OPEC producers in a bid to...

  • *OPEC ready for "forceful" deal to cut output- Maduro. LONDON, Nov 17- Oil prices rose on Thursday as expectations of an OPEC deal to limit production outweighed evidence of global oversupply and rising inventories, particularly in the United States. Saudi Energy Minister Khalid al-Falih said he was optimistic OPEC would formalize a preliminary oil output deal...

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  • RIYADH, Nov 17- Saudi Energy Minister Khalid al-Falih said on Thursday that OPEC should cut oil output to 32.5 million barrels per day, the lower end of a previously agreed range, to balance the market. OPEC agreed in Algeria on Sept. 28 to limit supply with special conditions given to Libya, Nigeria and Iran, whose output has been hit by wars and sanctions.

  • *OPEC ready for "forceful" deal to cut output- Maduro. LONDON, Nov 17- Oil prices rose on Thursday as expectations of an OPEC deal to limit production outweighed growing evidence of global oversupply and rising inventories, particularly in the United States. Saudi Energy Minister Khalid al-Falih said on Thursday he was optimistic OPEC would formalise a...

  • Risk of $40 oil without OPEC decision: Analyst

    Jason Gammel, Jefferies analyst, discusses the oil market ahead of the OPEC meeting at the end of the month.

  • *OPEC ready for "forceful" deal to cut output- Maduro. *But markets oversupplied as OPEC production surges. LONDON, Nov 17- Oil prices steadied on Thursday as expectations of an OPEC deal to limit production were balanced by growing evidence of heavy oversupply and rising stocks, particularly in the United States.

  • *OPEC signals inching closer to agreement, but scepticism remains. Crude inventories in the United States rose by 5.3 million barrels in the week to Nov. 11, compared with expectations for an increase of 1.5 million barrels. U.S. benchmark WTI crude was down 25 cents, or 0.5 percent, at $45.34 a barrel at 0750 GMT.

  • *OPEC signals inching closer to output freeze agreement. Crude inventories in the United States rose by 5.3 million barrels in the week to Nov. 11, compared with expectations for an increase of 1.5 million barrels. U.S. benchmark WTI crude was down 10 cents, or 0.22 percent, at $45.47 a barrel at 0555 GMT.

  • *OPEC signals inching closer to output freeze agreement. Crude inventories in the United States rose by 5.3 million barrels in the week to Nov. 11, compared with expectations for an increase of 1.5 million barrels. U.S. benchmark WTI crude was down 11 cents, or 0.24 percent, at $45.46 a barrel at 0040 GMT.

  • CARACAS, Nov 16- OPEC countries are ready to reach a "forceful" agreement on cutting oil output, Venezuelan President Nicolas Maduro said on Wednesday, following a meeting with OPEC Secretary-General Mohammed Barkindo in Caracas. OPEC agreed in Algeria on Sept. 28 to limit supply, with special conditions given to Libya, Nigeria and Iran, whose output has been hit by...

  • Why oil demand won't drop off till 2040

    Matt Smith at ClipperData addresses the IEA's oil demand projection and says that emerging markets make up for the decrease in demand from OECD countries.

  • CARACAS, Nov 16- OPEC countries are ready to reach a "forceful" agreement on cutting oil output, Venezuelan President Nicolas Maduro said on Wednesday, following a meeting with OPEC Secretary-General Mohammed Barkindo in Caracas. OPEC agreed in Algeria on Sept. 28 to limit supply, with special conditions given to Libya, Nigeria and Iran, whose output has been hit by...

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

  • *Russia ready to support OPEC decision on output freeze. *OPEC sec-gen to meet Venezuelan president Wednesday. Russia said it was ready to support OPEC's decision on an output freeze and sees big chances that the oil producers' group can agree on the terms of the freeze by Nov. 30, Russian Energy Minister Alexander Novak said.

  • Russian Energy Minister Alexander Novak.

    Oil prices whipsawed as comments from the Russian energy minister offset bearish U.S. crude stockpile data.