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International Organizations OPEC

  • An employee holds a control panel as barrels are filled with lubricant oil ahead of shipping at Royal Dutch Shell lubricants blending plant in Torzhok, Russia.

    Oil traded higher on Friday after the United States airstrike on Syria, but noted expert John Kilduff doesn’t expect that to last.

  • *Oil supplies remain abundant despite OPEC cuts. SINGAPORE, April 7- Oil futures surged more than 2 percent to a one-month high on Friday after the United States launched dozens of cruise missiles at an airbase in Syria, with prices later dropping back as there seemed no immediate threat to supplies. Although Syria has limited oil production, its location in the...

  • *Oil supplies remain abundant despite OPEC cuts. SINGAPORE, April 7- Oil futures surged more than 2 percent to a one-month high on Friday after the United States launched dozens of cruise missiles at an airbase in Syria, with prices later dropping back as there seemed no immediate threat to supplies. Although Syria has limited oil production, its location in the...

  • SINGAPORE, April 7- Oil prices dipped on Friday as ongoing concerns about oversupply outweighed an OPEC- led production cut and strong refinery activity. Brent crude futures, the international benchmark for oil, were at $54.85 per barrel at 0109 GMT, down 4 cents from their last close. Both figures, however, were higher than at any time during the second half of 2016,...

  • SINGAPORE, April 7- Oil prices dipped on Friday as ongoing concerns about oversupply outweighed an OPEC- led production cut and strong refinery activity. Brent crude futures, the international benchmark for oil, were at $54.85 per barrel at 0109 GMT, down 4 cents from their last close. Both figures, however, were higher than at any time during the second half of 2016,...

  • Commodities tomorrow:

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

  • NEW YORK, April 6- Trading volumes and open interest in U.S. crude futures soared in 2016, particularly among buyers out of Asia and shale companies locking in output, both of whom have shown an affinity for far-dated contracts, the CME Group Inc said on Thursday. Shale has since emerged as a resilient rival to the Organization of the Petroleum Exporting Countries...

  • *OPEC trying to help market rebalance, ease oversupply. LONDON, April 6- The jury is still out on whether OPEC can rein in a global oil glut but top commodity traders are betting it can by selling stakes in storage tank businesses that profited from oversupply. The five top traders, who also include Mercuria and Trafigura, expect OPEC to extend output cuts into the...

  • Will OPEC's output cut be extended?

    Victor Shum, IHS Energy Insight, says the writing is on the wall that the bloc will to extend its output cut agreement.

  • NEW YORK, April 6- Trading volumes and open interest in U.S. crude futures soared in 2016, particularly among buyers out of Asia and shale companies locking in output, both of whom have shown an affinity for far-dated contracts, the CME Group Inc said on Thursday. Shale has since emerged as a resilient rival to the Organization of the Petroleum Exporting Countries...

  • *Rising U.S. oil exports undermine OPEC efforts to tighten market. SINGAPORE, April 6- Oil prices fell on Thursday as record U.S. crude inventories underscored that crude markets remain bloated, despite efforts led by OPEC to cut output and prop up prices. Brent crude futures, the international benchmark for oil, were at $54.07 per barrel at 0310 GMT, down 29 cents, or...

  • SINGAPORE, April 6- Oil prices fell on Thursday as record U.S. crude inventories underscored that markets remain bloated by high production and brimming storage despite efforts led by OPEC to cut output and prop up prices. Brent crude futures, the international benchmark for oil, were at $54.09 per barrel at 0124 GMT, down 27 cents, or 0.5 percent, from their last...

  • Commodities tomorrow:

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

  • Oil jack pumps are pictured in the Kern River oil field in Bakersfield, Calif.

    Oil prices pared gains as a surprise increase in U.S. crude inventories offset support from an outage at the largest UK North Sea oilfield.

  • *Outage at North Sea oilfield supports Brent. LONDON, April 5- Oil hit a one-month high near $55 a barrel on Wednesday as a fall in U.S. crude inventories raised hopes OPEC- led supply cuts were clearing a glut, while an outage at the largest UK North Sea oilfield lent support. Global benchmark Brent crude was up 70 cents at $54.87 a barrel by 1334 GMT.

  • *Outage at North Sea oilfield supports Brent. LONDON, April 5- Oil hit a one-month high near $55 a barrel on Wednesday as a fall in U.S. crude inventories raised hopes OPEC- led supply cuts were clearing a glut, while an outage at the largest UK North Sea oilfield lent support. U.S. crude inventories fell by a more-than-expected 1.8 million barrels last week, American...

  • *Outage at North Sea oilfield supports Brent. LONDON, April 5- Oil hit a one-month high near $55 a barrel on Wednesday as a fall in U.S. crude inventories raised hopes OPEC- led supply cuts were clearing a glut, while an outage at the largest UK North Sea oilfield lent support. U.S. crude inventories fell by a more-than-expected 1.8 million barrels last week, American...

  • *Outage at North Sea oilfield supports Brent. LONDON, April 5- Oil hit a one-month high near $55 a barrel on Wednesday as a drop in U.S. crude inventories raised hopes that OPEC- led supply restraint is clearing a glut, while an outage at a UK North Sea oilfield lent support. U.S. crude inventories fell by a more-than-expected 1.8 million barrels last week, American...

  • *Shipping data shows fall in tanker supplies as OPEC cuts. SINGAPORE, April 5- Oil climbed to a near one-month high on Wednesday on signs of a gradual tightening in global oil inventories and on concerns about a supply outage at a field in the United Kingdom's North Sea that feeds into an international benchmark price. "The immediate reason for the move was an...

  • *Shipping data shows fall in tanker supplies as OPEC cuts. SINGAPORE, April 5- Oil climbed to a near one-month high on Wednesday on signs of a gradual tightening in global oil inventories and on concerns about a supply outage at a field in the United Kingdom's North Sea that feeds into an international benchmark price. "The immediate reason for the move was an...