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International Organizations OPEC

  • A pump jack operates at a well site leased by Devon Energy Production Co. near Guthrie, Oklahoma.

    Oil prices were higher as expectations of a draw in U.S. crude oil and product inventories balanced a rebound in Libyan crude production.

  • *Brent, WTI may retrace to $52.79, $49.62 respectively. Benchmark Brent crude oil was down 20 cents at $52.92 a barrel by 0735 GMT. But global inventories remain stubbornly high and many investors are betting that it will take many months for oil prices to respond convincingly to lower OPEC output.

  • Several factors are conspiring to keep a lid on oil, and could even send prices sharply lower, John Kilduff tells CNBC.

  • QUITO, Ecuador, April 2- The Venezuelan Supreme Court may have amended part of its explosive decision to take over the opposition-led congress, but it still gives embattled leftist President Nicolas Maduro broad new powers over the OPEC nation's vast oil wealth. Maduro's cash-strapped government now has the autonomy to sell stakes in Venezuela's oil fields,...

  • PMI data from Europe, U.S. could give oil market direction. International benchmark Brent futures slipped 15 cents, or 0.3 percent, to $53.38 a barrel by 0440 GMT. U.S. futures fell nearly 6 percent from the previous quarter, while Brent lost 7 percent as rising inventory levels outpaced output cuts by OPEC and non- OPEC members.

  • PMI data from Europe, U.S. could give oil market direction. International benchmark Brent futures had slipped 7 cents to $53.46 a barrel by 0207 GMT. U.S. futures fell nearly 6 percent from the previous quarter, while Brent lost 7 percent as rising inventory levels outpaced output cuts by OPEC and non- OPEC members.

  • West Texas Intermediate crude futures fell 5 cents to $50.55 a barrel by 0012 GMT after settling 25 cents higher in the previous session. U.S. futures fell nearly 6 percent from the previous quarter, while Brent lost 7 percent as rising inventory levels outpaced output cuts by OPEC and non- OPEC members. Crude oil prices staged a three-day rally last week amid...

  • QUITO, Ecuador, April 2- The Venezuelan Supreme Court may have amended part of its explosive decision to take over the opposition-led congress, but it still gives embattled leftist President Nicolas Maduro broad new powers over the OPEC nation's vast oil wealth. Maduro's cash-strapped government now has the autonomy to sell stakes in Venezuela's oil fields,...

  • BAGHDAD, April 2- Iraq has assured OPEC it will fully comply with an agreement to cut oil supply in order to bolster crude prices, OPEC Secretary General Mohammed Barkindo said on Sunday in Baghdad. Compliance with the deal agreed by OPEC and non- OPEC producers at the end of last year to cut supply is "encouraging," Barkindo told the forum. Luaibi said he was satisfied...

  • BAGHDAD, April 2- Iraq has assured OPEC it will fully comply with an agreement to cut oil supply in order to bolster crude prices, OPEC Secretary General Mohammed Barkindo said on Sunday in Baghdad. Compliance with the deal agreed by OPEC and non- OPEC producers at the end of last year to cut supply is "encouraging," Barkindo told the forum. Luaibi said he was satisfied...

  • BAGHDAD, April 2- Iraq has assured OPEC it will fully comply with an agreement to cut oil supply in order to bolster crude prices, OPEC Secretary General Mohammed Barkindo said on Sunday. Compliance with the deal agreed by OPEC and non- OPEC producers at the end of last year to cut supply is "encouraging," Barkindo told an energy conference in Baghdad.

  • BAGHDAD, April 2- Iraq has given OPEC assurances it will fully comply with an agreement to cut oil supply in order to bolster crude prices, OPEC Secretary General Mohammed Barkindo said on Sunday. Compliance with the deal agreed by OPEC and non- OPEC producers at the end of last year to cut supply is "encouraging," Barkindo told an energy conference in Baghdad.

  • US President Donald Trump

    The world wanted stocks in the first quarter. We can see this in the numbers with U.S. markets, Europe and emerging markets.

  • NEW YORK, March 31- Oil prices fell on Friday after a three-day rally ran out of steam as a higher U.S. rig count signaled rising production from shale, contributing to the global supply glut. Prices have been locked within a range during the first quarter as traders searched for signals that the Organization of the Petroleum Exporting Countries' production cuts...

  • Oil

    Oil futures promised to post the market's worst-performing quarter since 2015 as investors fret over growing U.S. supplies.

  • RIO DE JANEIRO/ SAO PAULO, March 31- Brazil is poised to sharply increase oil exports this year as heavy investments spur new output and demand for its lighter crudes win more buyers, especially in China and India. Production is projected to rise 210,000 barrels per day in 2017, second only in the size of additional supply to the United States among non- OPEC...

  • Iran's top four Asian buyers- China, India, South Korea and Japan- imported 2.01 million barrels per day last month, government and ship-tracking data showed, the highest volumes since at least 2010, International Energy Agency data showed. Iran was exempted from an OPEC deal to reduce output by 1.2 million bpd starting Jan. 1, a victory for Tehran which has argued...

  • LONDON, March 31- Oil prices fell on Friday after a three-day rally ran out of steam, promising to notch up the oil market's worst-performing quarter since 2015 as investors fret that growing U.S. supplies are undermining OPEC- led production cuts. Brent futures were down 34 cents at $52.62 a barrel at 1322 GMT. U.S. crude futures were down 19 cents at $50.16 a barrel...

  • LONDON, March 31- Swiss-based trading and mining giant Glencore is selling a bundle of its global oil storage stakes, sources told Reuters, following similar moves by rivals as a boom period for storage shows signs of nearing to an end. As the Organization of the Petroleum Exporting Countries decided to cut oil output at the end of 2016 to prop up prices and help...

  • *Poor commitment from non- OPEC producers pose risks. March 31- Oil analysts have grown more unsure that OPEC's supply cut will be enough to offset the increase in U.S. production and do not believe prices will reach $60 a barrel until early next year, according to a Reuters poll on Friday. Analysts said OPEC's first accord on supply curbs since 2008 could be...