OPEC

Donald Trump’s energy plan may not actually include independence from Saudi oil. According to Reuters analyst John Kemp, Trump’s promise to restrict Saudi oil imports is an “empty threat.” “Trump is first and foremost a showman and impresario rather than a policy wonk...

The caveat here is “maybe” the following exchange-traded funds could endure an oil shock, though past performance indicates it will be difficult. After all, the iShares MSCI Saudi Arabia Capped ETF (NYSE: KSA) and the iShares MSCI Qatar Capped ETF (iShares Trust (NASDAQ: QAT)) are two...

Kashagan, a vast oil field in the Caspian Sea, sent its first crude for export after about 16 years in development, according to a press release from the project operator North Caspian. North Caspian Operating Company has commenced production from the Kashagan Phase 1 offshore project and said work...

There’s no question that OPEC’s recent talk of a crude oil production cut is good news for oil investors. However, the latest report from the organization suggests that the global oil industry is still a long way from balanced. A new OPEC report revealed some discouraging figures and...

The energy sector is the best-performing segment in the S&P 500 this year. Additionally, Exxon Mobil Corporation (NYSE: XOM) and Chevron Corporation (NYSE: CVX), the two largest U.S. oil companies, are two of the just 14 members of the Dow Jones Industrial Average that are up at least 10...

Oil prices have risen to near the $50 per barrel level from the low-$40s after OPEC members reached a tentative agreement to reduce their oil output. Even though details of the agreement have yet to be fully communicated, and some analysts aren't optimistic on a deal occurring in the first place,...

The price of oil has risen over the past few weeks on optimism that a recent OPEC agreement would support a higher oil price. However, the Wall Street Journal reported on Friday that Russia's energy minister Alexander Novak put a damper on the agreement. Russia, a non-OPEC member, is a major energy...

Investors who bought oil and oil-related stocks last week took a chance that an official OPEC meeting would result in an agreement which would limit the group's oil output. According to a Bloomberg report, many analysts were skeptical of any deal being finalized during the OPEC meeting but...

Last week’s OPEC production cut deal came as quite a surprise to the oil market, sending oil and energy stock prices soaring. While the modest cut in itself won’t do much to reduce the global supply of oil in the near-term, Reuters analyst John Kemp believes the deal is a sign...

WTI crude oil prices have surged more than 7 percent in the past two days following surprise news of an OPEC production cut deal. On Wednesday, OPEC agreed to cut global crude oil production from 33.4 million barrels per day to an anticipated range of 32.5–33 million barrels per day. While...

Things just keep getting worse for the Global X MSCI Nigeria ETF (Global X Funds (NYSE: NGE)), the lone exchange-traded fund dedicated to Nigerian stocks. Inflation, Currency Woes Weigh On Nigeria As has been previously noted in this space, NGE has been struggling this year even as oil prices and...

Oil and oil services investors got some much-needed relief from OPEC this week when the organization surprised the world and agreed to a production cut. The news sent the United States Oil Fund LP (ETF) (NYSE: USO) surging 4.1 percent in the past two trading sessions, while the VanEck Vectors...

The price of oil spiked higher on Thursday following reports that OPEC member nations have agreed to freeze oil output. However, according to IHS Markit Vice Chair Dan Yergin, an agreement wasn't in fact reached on Wednesday, rather an "agreement to agree." Speaking as a guest on CNBC's "Squawk Box...

According to CNBC's Bob Pisani, there is a lot of "skepticism" surrounding OPEC's agreement. Pisani noted that many energy names that moved higher on Wednesday, such as Exxon Mobil Corporation (NYSE: XOM) and Chevron Corporation (NYSE: CVX) are trading in the red on Thursday....

Saudi Arabia's oil policy has remained consistent over the years: Pump as much oil as possible to flood the market and sell at any cost. There were many reasons for this policy to stay in place, perhaps the most notable of which is every one barrel of oil the country sells at any price is one less...