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International Organizations OPEC

  • *OPEC downplays chance of bigger output cuts. The slide worsened after OPEC delegates downplayed the chance that their group and other producing countries would deepen their output cuts when they meet on May 25. While the cartel is expected to extend a self-imposed production cap by another six months, it will be a challenge to convince several non- OPEC members...

  • SAO PAULO, May 4- Brazil's currency and stocks fell on Thursday on bets that President Michel Temer's government could find it harder than expected to pass key austerity measures in Congress. The slide worsened after OPEC delegates said their group and other producing countries were downplaying the chance of a bigger output when the producers meet on May 25,...

  • *OPEC downplays chance of bigger output cuts. The slide worsened after OPEC delegates said their group and other producing countries were downplayed the chance of a bigger output when the producers meet on May 25, even though they said the output cuts were likely to be extended. U.S. crude fell $2.05 or 4.3 percent to $45.77, by 12:08 p.m. Brent was down $2.07, or 4.1...

  • A worker prepares to lift drills by pulley to the main floor of a drilling rig in the Permian basin.

    Mixed U.S. stockpile data compounded bearishness that has permeated the energy complex in recent weeks.

  • LONDON/ DUBAI, May 4- OPEC and non- OPEC oil producers look likely to extend their agreement to limit supplies beyond its June expiry to help clear a glut, three OPEC delegates said on Thursday, downplaying the chance of additional steps such as a bigger cut. "The willingness to extend the current understanding is strong among OPEC and non- OPEC participants," an OPEC...

  • OIL PRICES EXTEND LOSSES; BRENT, WTI FALL TO THE LOWEST SINCE NOV 30 OPEC SUPPLY CUT DEAL.

  • LONDON, May 4- Oil fell to its lowest since late November on Thursday, as concern over rising global supply and stubbornly high inventories effectively wiped out most of the gains made since OPEC announced its first supply cut in eight years. The Organization of the Petroleum Exporting Countries, together with major rivals such as Russia and Oman, announced on...

  • Oil prices began to rise late last year and have now stabilized at above $50 per barrel, as an OPEC- led production cut and rebounding demand slowly erode a global glut. However, operating costs rose 11.2 percent to C $14.48 per barrel of oil equivalent in the three months ended March 31, partly due to the timing and costs related to assets sold or held for sale.

  • *Russia cuts production, Iraq's fuel oil exports climb. Brent crude oil futures were down 63 cents at $50.16 by 1107 GMT, after bouncing off an intraday low of $50.01, the lowest since March 22. The expectation among analysts is for OPEC and its non- OPEC partners to extend the deal to keep up to 1.8 million bpd off the market later this month, but failure to do so could see...

  • *Russia cuts production, Iraq's fuel oil exports climb. Brent crude oil futures were down 32 cents at $50.47 a barrel by 0957 GMT, while U.S. The expectation among analysts is for OPEC and its non- OPEC partners to extend the deal to keep up to 1.8 million bpd off the market later this month, but failure to do so could see disgruntled investors cut their bullish bets on...

  • NEW YORK, May 4- As rapid growth in U.S. shale production grabs headlines and threatens to upend attempts by OPEC to balance oil markets, a more unsung sector of the U.S. industry is also hitting new output highs- the offshore Gulf of Mexico. While attention and investment is focused on shale, the Gulf is the among the most prolific oil source in the United States,...

  • *Russia says has cut production by more than 300,000 bpd. *OPEC compliance falls to 90 percent in April- survey. In early trading, WTI fell as low as $47.30, the lowest since March 27, after the U.S. Energy Information Administration said weekly crude stocks fell by 930,000 barrels to 527.8 million.

  • Commodities tomorrow:

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

  • Oil tanker

    Oil prices weakened as data showing a decline in crude inventories and weak demand for gasoline fed concerns about a supply glut.

  • *Russia says has cut production by more than 300,000 bpd. *OPEC compliance falls to 90 percent in April- survey. WTI tumbled early to $47.30, the lowest since March 27, following data from the U.S. Energy Information Administration showing weekly crude stocks fell by 930,000 barrels to 527.8 million.

  • *Russia says has cut production by more than 300,000 bpd. *OPEC compliance falls to 90 percent in April- survey. "U.S. domestic production rose again, and continues its steady climb," said John Kilduff, partner at energy hedge fund Again Capital in New York.

  • *Russia says has cut production by more than 300,000 bpd. *OPEC compliance falls to 90 percent in April- survey. WTI had slid 2.4 percent on Tuesday on concerns about falling OPEC compliance with its production-curbing deal.

  • MOSCOW, May 3- Russia's oil production on May 1 was 300,790 barrels per day below the level in October, meaning it has cut output by more than was demanded under a pact between OPEC and other producers, Russia's Energy Ministry said on Wednesday. The Organization of the Petroleum Exporting Countries, along with Russia and other non- OPEC producers, pledged to cut...

  • *Russia says has cut production by more than 300,000 bpd. *OPEC compliance falls to 90 pct in April- survey. WTI had slid 2.4 percent on Tuesday on concerns about falling OPEC compliance with its production-curbing deal.

  • *Russia says has cut production by more than 300,000 bpd. *OPEC compliance falls to 90 pct in April- survey. WTI had slid 2.4 percent on Tuesday on concerns about falling OPEC compliance with its production-curbing deal.