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International Organizations OPEC

  • MOSCOW, Jan 21- The next Joint OPEC-Non-OPEC Ministerial Monitoring Committee will be held in April in Saudi Arabia, Russian RIA news agency reported on Sunday, citing an OPEC statement. It also said that compliance with the global oil production cut deal by OPEC and non- OPEC nations was at 129 percent in December and averaged 107 percent over the whole of last...

  • MOSCOW, Jan 21- The next Joint OPEC-Non-OPEC Ministerial Monitoring Committee will be held in April in Saudi Arabia, Russian RIA news agency reported on Sunday, citing an OPEC statement. It also said that compliance with the global oil production cut deal by OPEC and non- OPEC nations was at 129 percent in December and averaged 107 percent over the whole of last...

  • Workers on Endeavor Energy Resources LP's Big Dog Drilling Rig 22 in the Permian basin outside of Midland, Texas.

    Crude oil hit its highest level in more than three years to start 2018, but one market watcher expects these highs to be short-lived.

  • MOSCOW, Jan 20- Russian Energy Minister Alexander Novak met his Saudi counterpart Khalid al-Falih in Oman on Saturday, where they both expressed satisfaction with the way oil market has been rebalancing, the Russian energy ministry said. The Organization of the Petroleum Exporting Countries and other producers, including Russia, are cutting oil output by 1.8...

  • Pumpjacks in an oil field.

    The recent uptick in oil prices is not likely to persuade OPEC to end production cuts this summer, according to one oil analyst.

  • A worker prepares to lift drills by pulley in the Permian basin outside of Midland, Texas.

    The U.S. is well-placed to overtake Saudi Arabia and Russia as the world's leading energy producer, according to IEA's latest report.

  • PARIS— U.S. oil production is booming and is forecast to top that of heavyweight Saudi Arabia and rival Russia this year, a global energy agency said Friday. The price of crude has risen about 50 percent since June, with the U.S. benchmark now trading around $63 a barrel, on evidence of strong global economic growth and a pact among OPEC countries and Russia to limit...

  • *OPEC forecasts higher output from U.S., other non- OPEC. The market remains wary that OPEC- led output cuts will trigger price hikes that will increase supply from the United States. Crude is just below its highest price since December 2014, supported by supply cuts led by the Organization of the Petroleum Exporting Countries and concern that unrest in producer...

  • HOUSTON/ CARACAS, Jan 18- Venezuela's crude oil production fell nearly 13 percent last year, according to figures released by OPEC on Thursday, hitting a 28- year annual low that points to a deepening economic crisis and increased chances of a debt default. But unlike voluntary cuts by Saudi Arabia, Russia and others intended to stoke higher crude prices by...

  • HOUSTON/ CARACAS, Jan 18- Venezuela's crude oil production fell nearly 13 percent last year, according to figures released by OPEC on Thursday, hitting a 28- year annual low that points to a deepening economic crisis and increased chances of a debt default. But unlike voluntary cuts by Saudi Arabia, Russia and others intended to stoke higher crude prices by...

  • *OPEC forecasts higher output from U.S., other non- OPEC. NEW YORK, Jan 18- Oil rebounded after slipping below $69 a barrel on Thursday, supported by a record drawdown of U.S. crude stockpiles at the Cushing, Oklahoma delivery hub, despite concerns that OPEC- led output cuts will increase supply from the United States. Crude is just below its highest price since December...

  • HOUSTON/ CARACAS, Jan 17- Venezuela's oil production fell nearly 13 percent last year according to figures released by OPEC on Thursday, hitting a 28- year annual low that suggested a deepening economic crisis and increased chances of a debt default. That was the biggest fall among the 13 OPEC countries that have pledged to a production cut recently extended...

  • *OPEC forecasts higher output from U.S., other non- OPEC. LONDON, Jan 18- Oil slipped towards $69 a barrel on Thursday, weighed down by a reported rise in U.S. fuel stocks and expectations that OPEC- led efforts to boost prices by cutting output will increase supply from the United States and other rivals. "Higher oil prices are bringing more supply to the market,...

  • *OPEC lifts 2018 non- OPEC supply forecast, citing higher prices. LONDON, Jan 18- OPEC has raised its forecast for oil supply from non-member countries in 2018 as higher prices encourage U.S. shale drillers to pump more, offsetting an OPEC- led deal to clear a supply glut and a deepening plunge in Venezuelan production. OPEC, Russia and several other non- OPEC producers...

  • OPEC production rises in December

    CNBC's Jackie DeAngelis takes a look at OPEC's monthly production report.

  • LONDON, Jan 18- Oil held steady above $69 a barrel on Thursday, supported by falling inventories of crude and threats of an attack on Nigeria's petroleum industry, although a reported rise in U.S. fuel supplies weighed. Crude is within sight of its highest since December 2014, supported by supply cuts led by the Organization of the Petroleum Exporting Countries...

  • European markets closed slightly higher on Thursday, as investors monitored recent gains from Wall Street.

  • Brent crude futures were at $69.48 at 0103 GMT, up 10 cents, or 0.1 percent, from their last close. In an effort to tighten markets and prop up prices, a group of major oil producers around the Organization of the Petroleum Exporting Countries and Russia started to withhold production in January last year, and the cuts are set to last through 2018..

  • A member of staff photographs a customer as he checks the new iPhone X upon its U.K release in the Apple store, on November 3, 2017 in London, England.

    How soon will the Dow hit 27,000? Evercore’s Rich Ross has three picks that could drive Wall Street toward the next milestone.

  • Tighter fundamentals have lifted both crude futures benchmarks about 13 percent above levels in early December, helped by production curbs by OPEC and Russia, as well as by healthy demand growth. Brent crude futures were at $68.90 a barrel at 1314 GMT, down 25 cents from the last close, after hitting $69.37. "Currently there is no reason to believe that there has...