OPEC Agreement

The Organization for Oil Exporting Countries (OPEC) reached a historic agreement that calls on OPEC members and non-member oil nations alike to lower their collective output to help boost oil prices higher. The problem is the OPEC agreement isn't sufficient to sustain a longer-term recovery in oil...

Oil's slump below $50 per barrel coincided with hedge funds fleeing their long oil bets. According to a Bloomberg report, hedge funds lowered their WTI net-long positions by nearly 3 percent for the week ending March 7. The net-long position, which fell by 11,149 futures and options to 375,558...

The price of oil has been supported by an OPEC agreement to lower the collective output of the organization by 1.2 million barrels a day. But doing so may have awakened a sleeping giant: U.S. shale producers looking to take advantage of the now higher oil prices. According to a Bloomberg report, U....

The price of oil appears to have stabilized just north of $50 per barrel, but some analysts are calling for a 40 percent plunge. Bloomberg: Possibility Of Falling Prices According to a Bloomberg report, crude prices could fall to $30 per barrel if the Organization for Petroleum Exporting Countries...

OPEC's agreement to collectively lower their oil output was met with skepticism by some, but the organization has found an unlikely ally: China. Bloomberg cited a research report from analysts at Sanford Bernstein who suggested that China's oil production is expected to decline by up to 7 percent...

Crude oil is on pace to finish 2016 near a multi-year high, which marks a reversal from 2015 when the commodity ended the year lower by more 30 percent. The reason for oil's strength can be directly attributed to an agreement made by OPEC and non-OPEC members to cut production - the first...

The price of oil soared over the weekend and hit a 17-month high after OPEC and non-OPEC members struck an agreement to support oil prices. By Monday morning, the price of oil gained more than 6 percent. Brent crude futures gained more than $2 per barrel to trade at $56.61 and traded as high as...

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 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....

OPEC members are currently talking in Algiers with the conversation surrounding a potential deal to freeze oil output levels. However, oil investors shouldn't expect a deal to be made this week, but it is possible one can be made in November. Bloomberg cited data from the International Monetary...