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International Organizations OPEC

  • *OPEC inclined to extend cuts, wants non- OPEC backing. LONDON, March 22- Oil prices slipped back towards three-month lows on Wednesday after data showed U.S. crude inventories rising faster than expected, piling pressure on OPEC to extend output cuts beyond June. Sources have said OPEC is inclined to extend but wants backing from non- OPEC producers, including...

  • *Rising U.S. production undermines OPEC effort to cut output. SINGAPORE, March 22- Oil prices dipped on Wednesday as rising crude stocks in the United States underscored an ongoing global fuel supply overhang despite an OPEC- led effort to cut output. "The American Petroleum Institutes' crude inventories stuck the knife into crude overnight, coming in at a 4.5...

  • *Rising U.S. production undermines OPEC effort to cut output. SINGAPORE, March 22- Oil prices dipped on Wednesday as rising crude stocks in the United States underscored an ongoing global fuel supply overhang despite an OPEC- led effort to cut output. "The American Petroleum Institutes' crude inventories stuck the knife into crude overnight, coming in at a 4.5...

  • OPEC headquarters in Vienna, Austria.

    An increase in new production projects and a shale boom could create an oversupply situation in the coming years, according to Goldman Sachs analysts.

  • *Rising U.S. production undermines OPEC effort to cut output. SINGAPORE, March 22- Oil prices dipped on Wednesday as rising crude stocks in the United States underscored an ongoing global fuel supply overhang despite an OPEC- led effort to cut output. "The American Petroleum Institutes' crude inventories stuck the knife into crude overnight, coming in at a 4.5...

  • *Rising U.S. production undermines OPEC's effort to cut output. SINGAPORE, March 22- Oil prices dipped on Wednesday as rising crude stocks in the United States underscored an ongoing global fuel supply overhang despite an OPEC- led effort to cut output. Prices for front-month Brent crude futures, the international benchmark for oil, were at $50.92 per barrel at...

  • Commodities tomorrow:

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

  • *OPEC sources say group leaning towards extending cuts. NEW YORK, March 21- Oil prices fell on Tuesday, with U.S. crude dropping to its lowest since November, as concerns about new supplies overshadowed the latest talk by OPEC that it was looking to extend output cuts beyond June. Brent futures for May delivery fell 66 cents, or 1.3 percent, to settle at $50.96 a barrel,...

  • People work at the Halfaya oilfield in Amara, southeast of Baghdad, Iraq.

    U.S. crude fell close to its lowest in a week as the market discounted the latest talk by OPEC that it would extend output cuts beyond June.

  • "OPEC's decision in November 2016 to cut production was rational, in our view, and fit into its role of inventory manager of last resort," Goldman said. "However, the unintended consequence was to underwrite shale activity through a bullish credit market at a time when delayed delivery of the 2011-13 capex boom could lead to record non- OPEC production growth in...

  • *OPEC sources say group leaning towards extending cuts. NEW YORK, March 21- Oil prices on Tuesday fell close to its lowest in a week as the market discounted the latest talk by OPEC that it would extend output cuts beyond June. Sources within the Organization of the Petroleum Exporting Countries have indicated that its members increasingly favor extended...

  • *OPEC sources say group leaning towards extending cuts. LONDON, March 21- Oil prices edged higher on Tuesday, helped by expectations that OPEC- led output cuts would be extended beyond June, though gains were capped by persistently high crude inventories. The Organization of the Petroleum Exporting Countries and some non- OPEC producers agreed to curb...

  • *Canadian dollar at C $1.3270, or 75.36 U.S. cents. *Loonie touches its strongest since Feb. 28 at C $1.3270. Prices of oil, one of Canada's major exports, rose on expectations that an Organization of the Petroleum Exporting Countries-led output cut would be extended beyond June.

  • LONDON, March 21- Oil prices rose on Tuesday, helped by expectations that an OPEC- led output cut would be extended beyond June but gains were pegged back by concerns about persistently high crude inventories. The Organization of the Petroleum Exporting Countries and some non- OPEC producers agreed to curb production from Jan. 1 by 1.8 million barrels per day for...

  • *Oil prices rise on OPEC talk. LONDON, March 21- The euro climbed to six-week highs and French bonds and stocks rallied on Tuesday after centrist Emmanuel Macron's performance in a television debate raised expectations he would win France's presidential election over the far-right's Marine Le Pen. Oil prices rallied almost 1 percent on talk that OPEC could...

  • LONDON, March 21- Oil prices climbed on Tuesday, helped by expectations that an OPEC- led output cut would be extended beyond June but gains were pegged back by concerns about persistently high crude inventories. The Organization of the Petroleum Exporting Countries and some non- OPEC producers agreed to cut production from Jan. 1 by 1.8 million barrels per day...

  • *OPEC- led production cut was planned only for H1 2017. SINGAPORE, March 21- Oil prices rose on Tuesday on expectations that an OPEC- led production cut to prop up the market could be extended, while strong demand would also work to slowly erode a global fuel supply overhang. To halt the decline, OPEC members increasingly favor extending the pact beyond June to balance...

  • *Oil prices tick up on hopes of extended OPEC- led output curb. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 percent in its eighth consecutive day of gains with tech-heavy Seoul and Taipei shares hitting two-year highs while Hong Kong's Hang Seng scaled 1-1/ 2- year highs. European shares are expected to open slightly higher, with...

  • *Asia shares hit 15- month high. *Oil prices tick up on hopes of extended OPEC- led output curb. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 percent to 21- month highs, with tech-heavy Seoul and Taipei shares hitting two-year highs while Hong Kong's Hang Seng scaled 1 1/ 2- year highs.

  • *OPEC- led production cut was planned only for H1 2017. SINGAPORE, March 21- Oil prices rose on Tuesday on expectations that an OPEC- led production cut to prop up the market could be extended, while strong demand would also work to slowly erode a global fuel supply overhang. To halt the decline, OPEC members increasingly favor extending the pact beyond June to balance...