OPEC

Oil prices continue trading near its 2017 lows but did bounce higher early Thursday morning. The price of U.S. crude futures gained around 25 cents a barrel to trade at $42.76, which still marks an approximate 20 percent decline since peaking in February. Here are two oil-related news reports of...

Oil prices fell to seven-month lows on Tuesday, with Brent Crude falling to $45.62 a barrel. Several oil ETFs were trading 3–7 percent lower in Tuesday’s pre-market session on the news, including United States Oil Fund LP (ETF) (NYSE: USO), which fell to its lowest since February 16,...

Oil prices entered bear territory on Tuesday after falling more than 3 percent. The price of oil hit a seven-month low near the $43 per barrel level which implies the commodity is trading at its lowest levels in 2017. The latest reason for the weakness is attributed to signs of rising output from...

The United States Oil Fund (NYSE: USO) is down nearly 2.7 percent over the past week, bringing the heavily traded oil exchange-traded product's year-to-date loss to nearly 22 percent. Those data points, among others, highlight oil's status as one of 2017's worst-performing commodities....

History is repeating itself in the oil market — at least its short-term history. Daniel Yergin, IHS Markit vice chairman, was a guest on CNBC's "Squawk Box" and offered two reasons to explain why oil prices are "back to the past." First, oil inventories are now 10 percent higher than it was...

Non-OPEC member countries are expected to boost their combined oil supplies by 1.5 million barrels a day next year, which by itself can satisfy the expected global demand growth of 1.4 million barrels a day, CNBC reported citing a report from the International Energy Agency. The bulk of new oil...

An OPEC agreement to extend 2016's supply reduction isn't going to be enough to help support oil prices, Fereidun Fesharaki, founder and chairman of consulting group FGE believes. Fesharaki, considered to be a leading global energy market expert, told CNBC early Wednesday morning that OPEC...

Bearish sentiment has taken hold of crude oil prices as various analysts and agencies have slashed their forecast for this year and next. On Wednesday, oil fell a little over 5 percent to a one-month low of $45.72, taking the year-to-date loss to 15 percent. However, there has been a recovery on...

Ready for some good news ahead of the summer months? Road trips will be a bit more affordable this summer as gas prices are on track to be the cheapest since 2005, according to GasBuddy. The national average price for one gallon of gas is now cheaper on a year-over-year basis, standing at $2.35 per...

BMO Capital Markets analyst Daniel Boyd believes that improving fundamentals for U.S. onshore oil stocks are being masked by inflated U.S. inventories. The analyst is “tactically bullish” on Halliburton Company (NYSE: HAL), RPC, Inc. (NYSE: RES), and C&J Energy Services Inc (NYSE:...

Oil prices were trading lower Wednesday morning following a Department of Energy report that paints an encouraging outlook for U.S. oil production. The United States Oil Fund LP (ETF) (NYSE: USO) lost more than 1 percent after the Department of Energy said it expects U.S. oil production in 2018...

Dennis Gartman, editor and publisher of "The Gartman Letter," is known for shifting his stance on oil from bull to bear given the highly volatile and constantly changing factors that determine the price of oil. For instance, Gartman's 2016 call that oil won't trade above $44 per barrel in his...

Disappointment with the pace of the global oil market recovery once again has Exxon Mobil Corporation (NYSE: XOM) shares trading near the critical $80 support level. A breakdown below $80 support could be bad news for Exxon bulls. Here's why. The $80 level has served as support for Exxon since...

OPEC members agreed last week to extend a 2016 initiative to lower their collective oil output to help boost oil prices. However, the price of oil is now trading lower than it was prior to the extension of the agreement which further puts into question how effective the 13 members are at...

The Organization of the Petroleum Exporting Countries extended a 2016 agreement which calls on most of its members and several non-members to collectively lower their oil output to help support oil prices. One week later, the price of oil is flirting with a multiweek low — causing some...