Energy Commodities
Oil
featured
Oil prices came under pressure from a strong dollar, but kept most of their gains from the previous session. » Read More
Francisco Blanch, head of Commodities and Derivatives Research, BAML says OPEC is targeting backwardation. » Read More |
China has limited refined oil product exports to North Korea, and banned textile imports, as part of UN economic sanctions on Pyongyang. » Read More |
CNBC's Dominic Chu looks ahead to what are likely to be next week's top business and financial stories. » Read More |
More
Sept 22- U.S. energy firms cut the number of oil rigs operating for a third week in a row as a 14- month drilling recovery stalled as companies pared back on spending plans when crude prices were softer. Drillers cut five oil rigs in the week to Sept. 22, bringing the total count down to 744, the least since June, General. RIG-OL-USA- BHI> That put the rig count on track for a...
NEW YORK, Sept 22- Oil prices were mixed on Friday, hovering close to their highest levels in months, as major producers may wait until January before deciding whether to extend their output curbs beyond the first quarter. After the Organization of the Petroleum Exporting Countries and major producers finished their meeting in Vienna, Russia's energy minister...
NEW YORK, Sept 22- Oil prices were mixed on Friday, hovering close to their highest levels in months, as major producers may wait until January before deciding whether to extend their output curbs beyond the first quarter. By 11:47 a.m. ET, Brent crude was up 14 cents, or 0.3 percent, at $56.57 a barrel, after hitting $56.87, its highest since March.
John Kilduff, Again Capital, discusses the meeting of OPEC oil ministers and what it means for WTI and Brent crude.
*OPEC- led supply pact due to expire in March. OPEC and its allies have been considering extending the deal beyond the end of March. Russian Energy Minister Alexander Novak said OPEC and other oil producers would not take a decision until January, while other ministers suggested a decision could come this year.
VIENNA, Sept 22- OPEC and other oil producers are clearing a glut that has weighed on crude prices for three years and may wait until January before deciding whether to extend their output curbs beyond the first quarter of 2018, ministers said on Friday. OPEC and its allies have been considering extending the deal beyond the end of March when it is due to expire.
CNBC's Jackie DeAngelis reports on oil production in the Middle East as Libya and Nigeria take no action to curb production.
LONDON, Sept 22- U.S. stocks of distillate fuel oil, which have been trending downwards all year, now look tight following disruption to major refineries caused by Hurricane Harvey. But a recovery in freight, coupled with a boom in oil and gas drilling, which relies heavily on diesel, and record exports to Latin America and other markets have steadily whittled away...
High profit margins at refineries is driving demand for crude oil, offsetting persistently robust exports from OPEC.
VIENNA, Sept 22- Output cuts by OPEC and other oil producers are clearing a supply glut that has weighed on crude prices for three years, ministers said at a meeting on Friday to review the pact that expires in March 2018. The Organization of the Petroleum Exporting Countries, Russia and several other producers have cut production by about 1.8 million barrels per...
*OPEC- led supply pact due to expire in March. Some ministers from the Organization of the Petroleum Exporting Countries, Russia and other producers were meeting in Vienna to discuss their deal to cut supplies that runs to March. Ministers said they would discuss extending the pact, although two OPEC sources said the group was unlikely to make a specific...
VIENNA, Sept 22- Output cuts by OPEC and other oil producers are clearing a supply glut that has depressed crude prices for three years, ministers said on Friday, suggesting they could extend cooperation well into 2018.. Ministers on a panel monitoring the pact, comprising Kuwait, Venezuela and Algeria, plus non-OPEC Russia and Oman, were meeting in Vienna after...
London, Sept 22- Oil prices were marginally firmer on Friday, as the market waited to see whether major producers meeting in Vienna would back an extension to output cuts beyond March next year. Some ministers from the Organization of the Petroleum Exporting Countries and from other producers led by Russia are set to discuss a possible extension to the current...
Some ministers from the Organization of the Petroleum Exporting Countries and from other producers are set to meet in Vienna at 0900 GMT on Friday to discuss a possible extension of an oil supply cut deal that is aimed at supporting oil prices. An OPEC source told Reuters the meeting had been postponed from 0800 GMT. The ministers from OPEC nations and others led...
