Abhishek Deshpande, head of oil market research and strategy at J.P. Morgan, discusses the oil market with CNBC's "Closing Bell."
Oil fell, slipping further from 2019 highs as focus shifted to a lack of progress in U.S.-China trade talks and as grim manufacturing data from Germany and the U.S. reignited fears of a slowdown.
Tightening U.S. stockpiles, OPEC production cuts and American sanctions on Iran and Venezuela support oil prices.
U.S. crude inventories fall by 9.6 million barrels, compared with analysts' expectations for an increase of 309,000 barrels.
Mike Kelly, Seaport Global Securities, joins 'The Exchange' to discuss energy stocks he's watching after oil prices hit their highest in four months.
U.S. sanctions against Iran and Venezuela are boosting prices, but traders say rising American output may cap gains.
BAKU, March 19- Venezuela has suspended its oil exports to India and views Russia and China as its main export destinations, the Azeri energy ministry said on Tuesday, citing Venezuela's oil minister. The Indian market has been crucial for Venezuela's economy because it has historically been the second-largest cash-paying customer for the OPEC country's...
Oil prices were near 2019 highs on Tuesday, supported by supply cuts led by producer club OPEC and U.S. sanctions against oil producers Iran and Venezuela. However, traders said the market may be capped by rising U.S. output.
OPEC and its allies will not make a decision to extend production cuts in April, giving the group more time to assess the oil market.
BAKU, March 18- A panel of OPEC and non- OPEC ministers has recommended that the oil-producer allies cancel their planned policy meeting in April, an OPEC source said on Monday.
BAKU, March 18- A panel of OPEC and non- OPEC ministers has recommended that the oil-producer allies cancel their planned policy meeting in April, an OPEC source said on Monday.
Azlin Ahmad of Argus Media says the Organization of the Petroleum Exporting Countries may not have much of a choice about whether to extend output cuts because U.S. oil production is set to continue to increase.
Major Asian stock markets closed higher on Monday as investors awaited developments on the U.S.-China trade front. The U.S. Federal Reserve was also set to begin its March policy meeting later in the week.
Russian Energy Minister Alexander Novak told CNBC that Moscow will be fully compliant with OPEC-led supply cuts over the coming weeks.
BAKU, March 17- OPEC Secretary General Mohammad Barkindo said on Sunday that compliance with a supply cut agreement between OPEC and non- OPEC members was improving, and that this would help the oil market to weather through the build up of oil inventories. "There is a remarkable improvement on the level of compliance," Barkindo said. "The market will weather through...
BAKU, March 17- Saudi Arabia's energy minister said on Sunday he was optimistic about continued commitment to the oil supply cut agreement between OPEC and non- OPEC members. "I am obviously optimistic that implementation of our OPEC+ agreement will improve, its already strong by historical standards," Khalid al-Falih said on the sidelines of the joint...
*OPEC has led supply cuts since start of year. *IEA sees OPEC, U.S. supply cushioning supply disruptions. "The OPEC- plus meeting could give us a little direction," he said.
The decision makes the IADB, Latin America's largest regional lender, the first financial institution to recognize Guaido and would eventually free up development lending to Venezuela if Maduro steps down. Guaido, who has been recognized as the OPEC country's legitimate leader by most Western countries, including the United States and many in Latin America,...
*OPEC has led supply cuts since start of year. *IEA sees OPEC, U.S. supply cushioning supply disruptions. West Texas Intermediate crude oil futures were down 48 cents at $58.13 per barrel at 1355 GMT, having hit their highest so far this year at $58.95.
*OPEC has led supply cuts since start of year. West Texas Intermediate crude oil futures were down 3 cents at $58.58 per barrel at 1100 GMT, having hit their highest so far this year at $58.95. Brent crude futures were at $66.92 per barrel, down 31 cents from their last settlement, and more than $1 off their 2019 peak of $68.14 reached on Thursday.
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