CNBC

IMF slashes growth forecasts in the Middle East again amid an ‘unusually high level of uncertainty’

It now expects MENA economies to contract 5.7% in 2020. In April, it predicted that the region would shrink 3.3% for the year.

  • CNBC
  • July 13 @ 6:00 am
  • CNBC
  • July 13 @ 6:00 am

Oil demand to return to pre-pandemic levels by 2022, Goldman says, but unlikely to peak this decade

Over the long term, analysts at Goldman Sachs said they now believed oil demand would not peak before 2030.

  • CNBC
  • July 2 @ 8:40 am
  • CNBC
  • July 2 @ 8:40 am

Oil prices just had their best quarter in 30 years — what’s next?

The IEA's Fatih Birol has reportedly said he believes 2020 may well come to be seen as the worst year in the history of global oil markets.

  • CNBC
  • July 1 @ 5:10 am
  • CNBC
  • July 1 @ 5:10 am

Oil major Shell to write down up to $22 billion of assets in second quarter

News of the charges, in the range of $15 billion-$22 billion, follow the energy company's plans to reduce greenhouse gas emissions to net zero by 2050.

  • CNBC
  • June 30 @ 2:13 am
  • CNBC
  • June 30 @ 2:13 am

5 things to know before the stock market opens Monday

U.S. stock futures rose on Monday even as U.S. coronavirus cases continued to surge. Dow stock Boeing jumped more than 3% in the premarket.

  • CNBC
  • June 29 @ 5:58 am
  • CNBC
  • June 29 @ 5:58 am

Two leading oil price reporting agencies launch new U.S. crude benchmarks to rival WTI

The move from S&P Global Platts and Argus Media comes as both agencies seek to break away from the traditional landlocked system.

  • CNBC
  • June 26 @ 7:09 am
  • CNBC
  • June 26 @ 7:09 am

Two leading oil price reporting agencies launch new US crude benchmarks to rival WTI

The move from S&P Global Platts and Argus Media comes as both agencies seek to break away from the traditional landlocked system.

  • CNBC
  • June 26 @ 7:09 am
  • CNBC
  • June 26 @ 7:09 am

In 2020’s biggest energy deal, six firms strike $20 billion agreement with Abu Dhabi state oil giant

The deal is the single-largest energy infrastructure investment in the region, and the biggest in the world so far this year, according to Abu Dhabi National Oil Company.

  • CNBC
  • June 23 @ 2:00 am
  • CNBC
  • June 23 @ 2:00 am

Shale industry will be rocked by $300 billion in losses and a wave of bankruptcies, Deloitte says

With oil prices staying lower for longer, a 'great compression' is coming for the U.S. shale industry.

  • CNBC
  • June 22 @ 7:14 am
  • CNBC
  • June 22 @ 7:14 am

Saudi Aramco to use cash and debt to uphold dividends pledge amid reports of job cuts

The state oil giant saw a 25% hit to its net income in the first quarter as oil prices plunged amid global lockdowns.

  • CNBC
  • June 18 @ 11:06 am
  • CNBC
  • June 18 @ 11:06 am

IEA outlines $3 trillion green recovery plan for world leaders to help fix the global economy

It sets out three main goals: spurring economic growth, creating jobs and building more resilient and cleaner energy systems.

  • CNBC
  • June 18 @ 1:58 am
  • CNBC
  • June 18 @ 1:58 am

Saudi Aramco completes $69 billion Sabic deal, extends payment window amid oil hit

The fall in oil prices since the initial deal announcement means Aramco will be paying the Public Investment Fund a premium of nearly 30% on Sabic's current price.

  • CNBC
  • June 17 @ 9:14 am
  • CNBC
  • June 17 @ 9:14 am

BP outlines how quickly global carbon emissions would need to fall to reach net zero by 2050

BP CEO Bernard Looney said in a report published Wednesday that some aspects of the energy system "continued to give cause for concern."

  • CNBC
  • June 17 @ 6:13 am
  • CNBC
  • June 17 @ 6:13 am

How negative oil prices revealed the dangers of the futures market

The unprecedented move into negative oil prices put countless investors and the American economy under a great financial risk.

  • CNBC
  • June 16 @ 8:00 am
  • CNBC
  • June 16 @ 8:00 am

IEA sees largest drop of oil demand in history this year, before biggest-ever one-year jump in 2021

The IEA said it expects oil demand to fall by 8.1 million barrels per day in 2020, before growing by 5.7 million barrels per day in 2021.

  • CNBC
  • June 16 @ 3:00 am
  • CNBC
  • June 16 @ 3:00 am

BP to write down up to $17.5 billion in second quarter, lowers oil price expectations to 2050

Bernard Looney, chief executive of BP, said the coronavirus outbreak "increasingly looks as if it will have an enduring economic impact."

  • CNBC
  • June 15 @ 2:33 am
  • CNBC
  • June 15 @ 2:33 am

Oil drops more than 10% as fears over second wave of coronavirus cases hit the market

Oil prices dropped more than 10% on Thursday amid a broader market sell-off as fears over a second wave of coronavirus cases led to investors shedding assets.

  • CNBC
  • June 11 @ 9:40 am
  • CNBC
  • June 11 @ 9:40 am

Oil drops more than 8% as fears over second wave of coronavirus cases hit the market

Oil prices dropped more than 8% on Thursday amid a broader market sell-off as fears over a second wave of coronavirus cases led to investors shedding assets.

  • CNBC
  • June 11 @ 9:40 am
  • CNBC
  • June 11 @ 9:40 am

Oil drops more than 7% as fears over second wave of coronavirus cases hit the market

Oil prices dropped more than 7% on Thursday amid a broader market sell-off as fears over a second wave of coronavirus cases led to investors shedding assets.

  • CNBC
  • June 11 @ 9:40 am
  • CNBC
  • June 11 @ 9:40 am

Oil drops more than 6% as fears over second wave of coronavirus cases hit the market

Oil prices dropped more than 7% on Thursday amid a broader market sell-off as fears over a second wave of coronavirus cases led to investors shedding assets.

  • CNBC
  • June 11 @ 9:40 am
  • CNBC
  • June 11 @ 9:40 am

Oil and gas production ETF paces for best quarter ever, but traders say it’s still a ‘show-me storyR

"I would be very, very cautious right now," Chantico Global founder and CEO Gina Sanchez says of the surge in oil and gas stocks.

  • CNBC
  • June 10 @ 6:22 am
  • CNBC
  • June 10 @ 6:22 am

Libya’s National Oil Corp declares force majeure on largest oil field after militia shutdown

Libya's National Oil Corporation has declared force majeure on exports from its largest oil field Tuesday, after a militia group shut it down just days after it resumed production following a six-month blockade.

  • CNBC
  • June 10 @ 2:51 am
  • CNBC
  • June 10 @ 2:51 am

Goldman Sachs says an oil price correction as deep as 20% ‘may already be underway’

"Despite the rally, we have been hesitant to recommend a long position this early in the cycle for several reasons," Goldman Sachs' commodities research team wrote Tuesday.

  • CNBC
  • June 9 @ 11:00 am
  • CNBC
  • June 9 @ 11:00 am

The Saudi-Russia oil price war was a ‘very big mistake,’ Qatar energy minister says

The call to open the taps on oil production pulled the floor from under the market as Saudi Arabia slashed its selling prices and increased production after Russia refused to join its plan to further cut output and boost prices in early March.

  • CNBC
  • June 8 @ 10:02 pm
  • CNBC
  • June 8 @ 10:02 pm

Saudi Arabia says ‘no room whatsoever’ for noncompliance over OPEC+ production cuts

Saudi Arabia and Russia said the success of the energy alliance's latest production cuts relies on all members complying with the terms of the deal.

  • CNBC
  • June 8 @ 7:41 am
  • CNBC
  • June 8 @ 7:41 am

OPEC and allies agree to extend record oil production cut

Some of the world's largest oil producers will meet on Saturday to decide on whether or not to extend production cuts.

  • CNBC
  • June 6 @ 8:17 am
  • CNBC
  • June 6 @ 8:17 am

OPEC and allies reportedly agree to extend record production cut

Some of the world's largest oil producers will meet on Saturday to decide on whether or not to extend production cuts.

  • CNBC
  • June 6 @ 8:17 am
  • CNBC
  • June 6 @ 8:17 am

Saudi Arabia and Russia push for an extension to output cuts, OPEC+ meeting this week still possible

OPEC and non-OPEC allies, sometimes referred to as OPEC+, were originally scheduled to review their production cuts on June 9-10.

  • CNBC
  • June 4 @ 4:09 am
  • CNBC
  • June 4 @ 4:09 am

Oil falls below $40 on doubts early OPEC+ meeting will go ahead this week

In April, OPEC+ agreed to cut oil production by a record 9.7 million barrels per day (b/d), approximately 10% of global output.

  • CNBC
  • June 3 @ 3:10 am
  • CNBC
  • June 3 @ 3:10 am

Oil prices hit 3-month highs on expectations OPEC+ will extend deepest-ever production cuts

In April, OPEC+ agreed to cut oil production by a record 9.7 million barrels per day (b/d), approximately 10% of global output.

  • CNBC
  • June 3 @ 3:10 am
  • CNBC
  • June 3 @ 3:10 am

Oil jumps nearly 90% in May to $35, registering best month on record

West Texas Intermediate gained more than 80% in May for its best month on record, but some are warning that the rally may be overdone.

  • CNBC
  • May 29 @ 6:38 am
  • CNBC
  • May 29 @ 6:38 am

Oil jumps nearly 90% in May, registering best month on record

West Texas Intermediate is on track to end the month with a more than 80% gain for its best month on record, but some are warning that the rally may be overdone.

  • CNBC
  • May 29 @ 6:38 am
  • CNBC
  • May 29 @ 6:38 am

Oil is on track for its best month ever

West Texas Intermediate is on track to end the month with a more than 70% gain for its best month on record, but some are warning that the rally may be overdone.

  • CNBC
  • May 29 @ 6:38 am
  • CNBC
  • May 29 @ 6:38 am

Rise of remote working is ‘biggest threat to oil demand,’ says analyst

With more and more people slated to work from home, there could be big implications for oil demand.

  • CNBC
  • May 28 @ 9:40 am
  • CNBC
  • May 28 @ 9:40 am

IEA says coronavirus has set in motion the largest drop of global energy investment in history

The IEA warned the economic impact of the health crisis could have "serious" implications for energy security and clean energy transitions.

  • CNBC
  • May 26 @ 11:00 pm
  • CNBC
  • May 26 @ 11:00 pm

Oil is on track for its best month ever after rebound, but traders say it’s ‘not out of the woods’

Oil prices have jumped more than 70% in May, but uncertainty remains in the market.

  • CNBC
  • May 25 @ 8:07 am
  • CNBC
  • May 25 @ 8:07 am

Amazon salesperson’s pitch to oil and gas: ‘Remember that we actually consume your products!’

An Amazon salesman's claim gets at how the company is simultaneously working with oil companies and becoming more reliant on renewable energy.

  • CNBC
  • May 20 @ 1:44 pm
  • CNBC
  • May 20 @ 1:44 pm

Google plans to stop making A.I. tools for oil and gas firms

Google has pledged to stop making customized A.I software for firms who profit off fossil fuels.

  • CNBC
  • May 20 @ 5:07 am
  • CNBC
  • May 20 @ 5:07 am

JC Penney could join a growing list of bankruptcies during the coronavirus pandemic

The economic uncertainty driven by the Covid-19 pandemic has pushed struggling companies over the edge into bankruptcy proceedings.

  • CNBC
  • May 15 @ 1:29 pm
  • CNBC
  • May 15 @ 1:29 pm

A resurgence of coronavirus cases will have ‘major consequences’ for the oil market, IEA warns

It comes after what the IEA Executive Director Fatih Birol described as "Black April."

  • CNBC
  • May 14 @ 3:00 am
  • CNBC
  • May 14 @ 3:00 am

Saudi Arabia’s oil production cuts show it is back in ‘whatever it takes’ mode, strategist says

Saudi Arabia on Monday said it will reduce output by an additional 1 million barrels per day from June 1, in a bid to support oil prices.

  • CNBC
  • May 12 @ 5:03 am
  • CNBC
  • May 12 @ 5:03 am

Saudi Aramco’s first-quarter profit slides 25% as the collapse in oil prices bites

"The Covid-19 crisis is unlike anything the world has experienced in recent history and we are adapting to a highly complex and rapidly changing business environment," Aramco President and CEO Amin Nasser said.

  • CNBC
  • May 12 @ 1:50 am
  • CNBC
  • May 12 @ 1:50 am

Saudi Aramco’s first-quarter net profit slides 25% on the year before, as the collapse in oil prices bites

"The COVID-19 crisis is unlike anything the world has experienced in recent history and we are adapting to a highly complex and rapidly changing business environment," Aramco President and CEO Amin Nasser said.

  • CNBC
  • May 12 @ 1:50 am
  • CNBC
  • May 12 @ 1:50 am

Oil drops more than 2% despite Saudi Arabia announcing plans to slash output

Saudi Arabia said it will cut production further in an effort to support global oil markets.

  • CNBC
  • May 11 @ 7:39 am
  • CNBC
  • May 11 @ 7:39 am

Saudi Arabia says it will cut production by an additional 1 million barrels per day

Saudi Arabia said it will cut production further in an effort to support global oil markets.

  • CNBC
  • May 11 @ 7:39 am
  • CNBC
  • May 11 @ 7:39 am

Oil turns positive as Saudi Arabia to cut production by an additional 1 million barrels per day

Saudi Arabia said it will cut production further in an effort to support global oil markets.

  • CNBC
  • May 11 @ 7:39 am
  • CNBC
  • May 11 @ 7:39 am

Goldman Sachs warns jet fuel demand may never fully recover from the crisis

A global public health crisis has led to an extreme demand shock in energy markets, with world travel brought close to a standstill.

  • CNBC
  • May 11 @ 3:16 am
  • CNBC
  • May 11 @ 3:16 am

Goldman Sachs’ Jeff Currie warns jet fuel demand may never fully recover from the coronavirus crisis

A global public health crisis has led to an extreme demand shock in energy markets, with world travel brought close to a standstill.

  • CNBC
  • May 11 @ 3:16 am
  • CNBC
  • May 11 @ 3:16 am

Oil drops nearly 2%, erasing earlier gain of more than 11%

Oil prices reversed gains to settle lower on Thursday, despite optimism surrounding producers scaling back production as well as demand improving.

  • CNBC
  • May 7 @ 8:19 am
  • CNBC
  • May 7 @ 8:19 am

Oil turns negative, erasing earlier gain of more than 11%

Oil prices surged on Thursday as U.S. producers continue to scale back operations, and as the demand outlook begins to improve.

  • CNBC
  • May 7 @ 8:19 am
  • CNBC
  • May 7 @ 8:19 am

Oil prices rise, on pace for more than 25% gain this week

Oil prices surged on Thursday as U.S. producers continue to scale back operations, and as the demand outlook begins to improve.

  • CNBC
  • May 7 @ 8:19 am
  • CNBC
  • May 7 @ 8:19 am

Oil prices rise, on pace for more than 30% gain this week

Oil prices surged on Thursday as U.S. producers continue to scale back operations, and as the demand outlook begins to improve.

  • CNBC
  • May 7 @ 8:19 am
  • CNBC
  • May 7 @ 8:19 am

Oil jumps more than 10%, on track for best week in history

Oil prices surged on Thursday as U.S. producers continue to scale back operations, and as the demand outlook begins to improve.

  • CNBC
  • May 7 @ 8:19 am
  • CNBC
  • May 7 @ 8:19 am

Oil drops 2%, snapping five-day winning streak in volatile trading session

Oil prices moved lower on Wednesday, snapping the longest daily winning streak since July.

  • CNBC
  • May 6 @ 8:49 am
  • CNBC
  • May 6 @ 8:49 am

Oil turns lower, snapping five-day winning streak as oversupply fears weigh

Oil prices moved lower on Wednesday, snapping the longest daily winning streak since July.

  • CNBC
  • May 6 @ 8:49 am
  • CNBC
  • May 6 @ 8:49 am

Oil surges 20%, posts fifth straight day of gains for first time since July

Oil prices jumped on Tuesday in their fifth straight day of gains as traders eyed demand recovery as economies reopen.

  • CNBC
  • May 5 @ 7:49 am
  • CNBC
  • May 5 @ 7:49 am

Oil surges 20% in fifth straight day of gains on demand recovery and production cuts

Oil prices jumped on Tuesday and were on track for a fifth straight day of gains as traders eyed demand recovery as economies reopen.

  • CNBC
  • May 5 @ 7:49 am
  • CNBC
  • May 5 @ 7:49 am

Oil jumps 15% in fifth day of gains on demand recovery and production cuts

Oil prices jumped on Tuesday and were on track for a fifth straight day of gains as traders eyed demand recovery as economies reopen.

  • CNBC
  • May 5 @ 7:49 am
  • CNBC
  • May 5 @ 7:49 am

Oil jumps 18% in fifth day of gains on demand recovery and production cuts

Oil prices jumped on Tuesday and were on track for a fifth straight day of gains as traders eyed demand recovery as economies reopen.

  • CNBC
  • May 5 @ 7:49 am
  • CNBC
  • May 5 @ 7:49 am

Oil jumps 13% in fifth day of gains on demand recovery and production cuts

Oil prices jumped on Tuesday and were on track for a fifth straight day of gains as traders eyed demand recovery as economies reopen.

  • CNBC
  • May 5 @ 7:49 am
  • CNBC
  • May 5 @ 7:49 am

Total’s net profit falls 35% in the first quarter as oil prices slide

Total reported that first-quarter net profit came in at $1.8 billion, down from $2.8 billion over the same period last year.

  • CNBC
  • May 5 @ 1:28 am
  • CNBC
  • May 5 @ 1:28 am

Oil and gas companies set to lose $1 trillion in revenues this year

The energy sector is shrinking so dramatically that it's become the second-smallest group in the whole S&P index.

  • CNBC
  • April 30 @ 5:01 am
  • CNBC
  • April 30 @ 5:01 am

Oil major Shell slashes dividend for the first time since World War II

Shell said it had decided to reduce the oil major's first-quarter dividend to $0.16 per share, down from $0.47 at the end of 2019.

  • CNBC
  • April 30 @ 1:11 am
  • CNBC
  • April 30 @ 1:11 am

Oil producers scramble to find ‘creative’ storage options after historic price crash

It comes as the coronavirus crisis continues to hit energy markets hard, with the world awash with oil and running out of places to put it.

  • CNBC
  • April 30 @ 12:47 am
  • CNBC
  • April 30 @ 12:47 am

Energy demand, hit by coronavirus crisis, is set to see record drop this year, IEA says

A new report from the International Energy Agency forecasts a 6% drop in global energy demand for 2020, the largest ever in absolute terms.

  • CNBC
  • April 29 @ 11:03 pm
  • CNBC
  • April 29 @ 11:03 pm

Energy demand set to fall the most on record this year amid coronavirus pandemic, IEA says

A new report from the International Energy Agency forecasts a 6% drop in global energy demand for 2020, the largest ever in absolute terms.

  • CNBC
  • April 29 @ 11:03 pm
  • CNBC
  • April 29 @ 11:03 pm

Oil ETF overseer addresses the risks of investing in crude-based funds

The "balance between predictability, transparency" and investment optimization is key in oil-based ETFs, says Jason Bloom.

  • CNBC
  • April 29 @ 6:24 am
  • CNBC
  • April 29 @ 6:24 am

Oil jumps 22% on smaller-than-expected inventory build, optimism around reopening economies

Oil prices jumped on Wednesday after data from the American Petroleum Institute showed a smaller-than-expected build in US inventories, and on hope that economies will soon reopen.

  • CNBC
  • April 28 @ 11:14 pm
  • CNBC
  • April 28 @ 11:14 pm

Oil jumps 25% on hope economy will reopen sooner than expected

Oil prices jumped on Wednesday after data from the American Petroleum Institute showed a smaller-than-expected build in US inventories, and on hope that economies will soon reopen.

  • CNBC
  • April 28 @ 11:14 pm
  • CNBC
  • April 28 @ 11:14 pm

Oil jumps 30% on hope economy will reopen sooner than expected

Oil prices jumped on Wednesday after data from the American Petroleum Institute showed a smaller-than-expected build in US inventories, and on hope that economies will soon reopen.

  • CNBC
  • April 28 @ 11:14 pm
  • CNBC
  • April 28 @ 11:14 pm

Oil jumps more than 30% on hope economy will reopen sooner than expected

Oil prices jumped on Wednesday after data from the American Petroleum Institute showed a smaller-than-expected build in US inventories, and on hope that economies will soon reopen.

  • CNBC
  • April 28 @ 11:14 pm
  • CNBC
  • April 28 @ 11:14 pm

Oil jumps more than 20% on hope economy will reopen sooner than expected

Oil prices jumped on Wednesday after data from the American Petroleum Institute showed a smaller-than-expected build in US inventories, and on hope that economies will soon reopen.

  • CNBC
  • April 28 @ 11:14 pm
  • CNBC
  • April 28 @ 11:14 pm

US oil surges 18% as inventories rise less than expected

Data from the American Petroleum Institute showed Tuesday that U.S. crude inventories jumped by 10 million barrels in the week to April 24 — to 510 million barrels, according to Reuters.

  • CNBC
  • April 28 @ 11:14 pm
  • CNBC
  • April 28 @ 11:14 pm

US oil surges 16% as inventories reportedly rise less than expected

Data from the American Petroleum Institute showed Tuesday that U.S. crude inventories jumped by 10 million barrels in the week to April 24 — to 510 million barrels, according to Reuters.

  • CNBC
  • April 28 @ 11:14 pm
  • CNBC
  • April 28 @ 11:14 pm

US crude surges nearly 15% as inventories reportedly rise less than expected

Data from the American Petroleum Institute showed Tuesday that U.S. crude inventories jumped by 10 million barrels in the week to April 24 — to 510 million barrels, according to Reuters.

  • CNBC
  • April 28 @ 11:14 pm
  • CNBC
  • April 28 @ 11:14 pm

Oil prices jump as US crude inventories reportedly rise by less than expected

Data from the American Petroleum Institute showed Tuesday that U.S. crude inventories jumped by 10 million barrels in the week to April 24 — to 510 million barrels, according to Reuters.

  • CNBC
  • April 28 @ 11:14 pm
  • CNBC
  • April 28 @ 11:14 pm

How you can play oil ETFs after Diamond Offshore bankruptcy filing

Diamond Offshore's bankruptcy filing shows the risk of buying into smaller-cap names in the oil patch, ETF analysts say.

  • CNBC
  • April 28 @ 7:34 am
  • CNBC
  • April 28 @ 7:34 am

One of UK’s richest businessmen says he expects oil at $40-$50 once the coronavirus crisis is over

Gopichand Hinduja told CNBC that oil prices are expected to remain low because the consumption demand is not there.

  • CNBC
  • April 28 @ 2:49 am
  • CNBC
  • April 28 @ 2:49 am

BP’s net profit slides 67% in the first quarter following a historic fall in oil prices

The U.K.-based oil and gas company posted first-quarter underlying replacement cost profit, used as a proxy for net profit, of $800 million.

  • CNBC
  • April 28 @ 1:14 am
  • CNBC
  • April 28 @ 1:14 am

Oil drops 3% in volatile session as storage capacity fears and weak demand weigh

Oil prices alternated between gains and losses in a volatile trading session.

  • CNBC
  • April 27 @ 8:50 pm
  • CNBC
  • April 27 @ 8:50 pm

Oil moves higher in volatile session

Oil prices alternated between gains and losses in a volatile trading session.

  • CNBC
  • April 27 @ 8:50 pm
  • CNBC
  • April 27 @ 8:50 pm

Oil falls back into the red in volatile session

Oil prices fell on Tuesday in a volatile trading session.

  • CNBC
  • April 27 @ 8:50 pm
  • CNBC
  • April 27 @ 8:50 pm

Oil turns positive, reversing more than 20% loss in early trading

Oil prices turned positive on Tuesday, despite intensifying fears about dwindling storage capacity worldwide.

  • CNBC
  • April 27 @ 8:50 pm
  • CNBC
  • April 27 @ 8:50 pm

Oil pares losses after falling more than 21% in early trading

Oil prices fell Tuesday, amid intensifying fears about dwindling storage capacity worldwide.

  • CNBC
  • April 27 @ 8:50 pm
  • CNBC
  • April 27 @ 8:50 pm

Oil drops 12% on storage capacity fears and weak demand, futures were down as much as 20%

Oil prices fell 12% on Tuesday, amid intensifying fears about dwindling storage capacity worldwide.

  • CNBC
  • April 27 @ 8:50 pm
  • CNBC
  • April 27 @ 8:50 pm

Oil drops 13% on storage capacity fears and weak demand, futures were down as much as 20%

Oil prices fell 13% on Tuesday, amid intensifying fears about dwindling storage capacity worldwide.

  • CNBC
  • April 27 @ 8:50 pm
  • CNBC
  • April 27 @ 8:50 pm

Oil drops 8% on storage capacity fears and weak demand, futures were down as much as 20%

Oil prices fell almost 20% during early morning deals on Tuesday, amid intensifying fears about dwindling storage capacity worldwide.

  • CNBC
  • April 27 @ 8:50 pm
  • CNBC
  • April 27 @ 8:50 pm

Oil plunges nearly 20% on storage capacity fears and weak demand

Oil prices fell almost 20% during early morning deals on Tuesday, amid intensifying fears about dwindling storage capacity worldwide.

  • CNBC
  • April 27 @ 8:50 pm
  • CNBC
  • April 27 @ 8:50 pm

Oil plunges 16%, extending Monday’s 25% decline

Oil prices dropped 16% in Tuesday early morning trading, after falling 25% on Monday due to ongoing fears that storage is reaching capacity.

  • CNBC
  • April 27 @ 8:50 pm
  • CNBC
  • April 27 @ 8:50 pm

Oil drops more than 12%, extending Monday’s 25% decline

Oil prices dropped more than 12% in Tuesday early morning trading, after falling 25% on Monday due to ongoing fears that storage is reaching capacity.

  • CNBC
  • April 27 @ 8:50 pm
  • CNBC
  • April 27 @ 8:50 pm

Oil drops 13%, extending Monday’s 25% decline

Oil prices dropped 13% in Tuesday early morning trading, after falling 25% on Monday due to ongoing fears that storage is reaching capacity.

  • CNBC
  • April 27 @ 8:50 pm
  • CNBC
  • April 27 @ 8:50 pm

Oil drops 11%, extending Monday’s 25% decline

Oil prices dropped 11% in overnight trading, after falling 25% on Monday due to ongoing fears that storage is reaching capacity.

  • CNBC
  • April 27 @ 8:50 pm
  • CNBC
  • April 27 @ 8:50 pm

Oil drops 15%, extending Monday’s 25% decline

Oil prices dropped more than 15% in overnight trading, after falling 25% on Monday due to ongoing fears that storage is reaching capacity.

  • CNBC
  • April 27 @ 8:50 pm
  • CNBC
  • April 27 @ 8:50 pm

A lot of negativity has already been priced into energy stocks, traders say

Energy is the only S&P 500 sector that finished last week in the green, and traders say it could mean the worst of the weakness is behind the group.

  • CNBC
  • April 27 @ 7:13 am
  • CNBC
  • April 27 @ 7:13 am

China oil companies could report ‘significant losses’ in the first quarter, Bernstein says

PetroChina and Sinopec are set to post earnings later this week, with Bernstein's Neil Beveridge expecting "very significant losses in the first quarter" for the two firms.

  • CNBC
  • April 27 @ 3:29 am
  • CNBC
  • April 27 @ 3:29 am

Pirates are expanding in West Africa, threatening offshore oil storage

As international oil companies grapple with a historic plunge in crude prices, a rise in piracy is also poised to threaten supply chains.

  • CNBC
  • April 27 @ 12:24 am
  • CNBC
  • April 27 @ 12:24 am

Op-ed: For Big Oil, this crisis will be different, and it may be irreversible

Oil and gas companies delayed far too long in transitioning away from fossil fuels and already lost many investors. The oil price crash caused by the coronavirus threatens to make this shift permanent.

  • CNBC
  • April 26 @ 8:01 am
  • CNBC
  • April 26 @ 8:01 am

‘We are making a lot of money’ amid the oil supply glut, Nordic American Tankers CEO says

"We are making a lot of money at this time, improving our balance sheet tremendously, and I have never seen such a strong market," Nordic American Tankers CEO Herbjørn Hansson said.

  • CNBC
  • April 24 @ 6:59 pm
  • CNBC
  • April 24 @ 6:59 pm

Since 2000, here’s where Dow, S&P 500 trade one month after wild moves in energy

The crazy action in crude oil futures was not the only recent extreme energy trade. The XLE was up over 10% last Friday. Here is how the Dow and S&P do one month after similar rallies since 2000.

  • CNBC
  • April 24 @ 7:29 am
  • CNBC
  • April 24 @ 7:29 am

How the oil price capitulation will hit Nigeria, Saudi Arabia and other major exporters

The historic plunge in oil prices earlier this week has left some major exporters of the commodity scrambling to shore up their economies.

  • CNBC
  • April 23 @ 8:12 am
  • CNBC
  • April 23 @ 8:12 am

Oil rallies more than 40% in two days as it comes back from record lows

Oil prices jumped on Thursday as the Street hopes for ongoing production cuts in the face of a coronavirus-induced demand loss.

  • CNBC
  • April 23 @ 7:20 am
  • CNBC
  • April 23 @ 7:20 am

Oil rallies more than 50% in two days in comeback from record lows

Oil prices jumped again Thursday as the Street hopes for ongoing production cuts in the face of a coronavirus-induced demand loss.

  • CNBC
  • April 23 @ 7:20 am
  • CNBC
  • April 23 @ 7:20 am

Oil jumps 30%, extending Wednesday’s rally as traders bet on US production cuts

Oil prices jumped again Thursday as the Street hopes for ongoing production cuts in the face of a coronavirus-induced demand loss.

  • CNBC
  • April 23 @ 7:20 am
  • CNBC
  • April 23 @ 7:20 am

Oil jumps 25%, extending Wednesday’s rally as traders bet on US production cuts

Oil prices jumped again on Thursday as the Street hopes for ongoing production cuts in the face of a coronavirus-induced demand loss.

  • CNBC
  • April 23 @ 7:20 am
  • CNBC
  • April 23 @ 7:20 am

Oil jumps 22%, extending Wednesday’s rally as traders bet on US production cuts

Oil prices jumped again on Thursday as the Street hopes for ongoing production cuts in the face of a coronavirus-induced demand loss.

  • CNBC
  • April 23 @ 7:20 am
  • CNBC
  • April 23 @ 7:20 am

Oil jumps 21%, extending Wednesday’s rally as traders bet on US production cuts

Oil prices jumped again on Thursday as the Street hopes for ongoing production cuts in the face of a coronavirus-induced demand loss.

  • CNBC
  • April 23 @ 7:20 am
  • CNBC
  • April 23 @ 7:20 am

Oil markets in ‘inflection phase’ after historic week of trade, Goldman Sachs says

The coronavirus pandemic has thrown the oil industry into crisis and exposed the fragility of the fundamentals in the global market.

  • CNBC
  • April 23 @ 4:53 am
  • CNBC
  • April 23 @ 4:53 am

Historic oil price collapse sees first major energy company cut its dividend

The move makes Western Europe's biggest crude producer the first oil major to cut its dividend this earnings season.

  • CNBC
  • April 23 @ 4:15 am
  • CNBC
  • April 23 @ 4:15 am

Rebound in oil is just a ‘breather’ and crude prices will likely turn negative again, analysts say

The overnight partial recovery in oil prices isn't a rebound, but simply a "breather," as weak demand and storage issues would continue to pressure prices, which are likely to turn negative again, analysts say.

  • CNBC
  • April 23 @ 2:19 am
  • CNBC
  • April 23 @ 2:19 am

CME boss says his exchange is not for retail investors and it’s ‘no secret’ futures can go negati

CME Group Chairman and CEO Terry Duffy defended the oil futures market on "Closing Bell" after a historic bout of volatility in the market.

  • CNBC
  • April 22 @ 4:33 pm
  • CNBC
  • April 22 @ 4:33 pm

Billionaire investor Howard Marks calls the oil crash ‘completely rational’

The historic crash in prices was steeped in fundamentals as energy demand has cratered due to the coronavirus pandemic and buyers were struggling to store crude, according to Howard Marks.

  • CNBC
  • April 22 @ 3:10 am
  • CNBC
  • April 22 @ 3:10 am

The hunt for oil storage space is on — here’s how it works and why it matters

An unprecedented collapse in U.S. oil prices has prompted market participants to reflect on the difficulty and costs of storing crude.

  • CNBC
  • April 22 @ 2:07 am
  • CNBC
  • April 22 @ 2:07 am

Oil jumps 19%, clawing back some of the recent losses

Oil prices jumped on Wednesday, despite ongoing concerns about a building supply glut and a lack of available storage.

  • CNBC
  • April 22 @ 12:22 am
  • CNBC
  • April 22 @ 12:22 am

Oil jumps 27%, clawing back some of the recent losses

Oil prices jumped on Wednesday, despite ongoing concerns about a building supply glut and a lack of available storage.

  • CNBC
  • April 22 @ 12:22 am
  • CNBC
  • April 22 @ 12:22 am

Oil comeback accelerates, futures now up more than 25%

Oil prices jumped on Wednesday, despite ongoing concerns about a building supply glut and a lack of available storage.

  • CNBC
  • April 22 @ 12:22 am
  • CNBC
  • April 22 @ 12:22 am

Oil comeback accelerates, futures now up more than 20%

Oil prices jumped on Wednesday, despite ongoing concerns about a building supply glut and a lack of available storage.

  • CNBC
  • April 22 @ 12:22 am
  • CNBC
  • April 22 @ 12:22 am

Oil comeback accelerates, futures now up more than 30%

Oil prices jumped on Wednesday, despite ongoing concerns about a building supply glut and a lack of available storage.

  • CNBC
  • April 22 @ 12:22 am
  • CNBC
  • April 22 @ 12:22 am

Oil comeback accelerates, futures now up 30%

Oil prices jumped on Wednesday, despite ongoing concerns about a building supply glut and a lack of available storage.

  • CNBC
  • April 22 @ 12:22 am
  • CNBC
  • April 22 @ 12:22 am

Oil jumps 17%, reversing steep losses after volatile overnight session

Oil prices moved higher on Wednesday, despite ongoing concerns about a building supply glut and a lack of available storage.

  • CNBC
  • April 22 @ 12:22 am
  • CNBC
  • April 22 @ 12:22 am

Oil jumps 14%, reversing steep losses after volatile overnight session

Oil prices moved higher on Wednesday, despite ongoing concerns about a building supply glut and a lack of available storage.

  • CNBC
  • April 22 @ 12:22 am
  • CNBC
  • April 22 @ 12:22 am

Oil is down slightly, but is off the worst levels of the overnight session

Oil prices were little changed on Wednesday, with traders concerned about a building supply glut and a lack of available storage.

  • CNBC
  • April 22 @ 12:22 am
  • CNBC
  • April 22 @ 12:22 am

Meltdown in oil continues as Brent falls 5%; US oil futures dip below $11

Oil prices continued to plummet on Wednesday, with traders concerned about a building supply glut and a lack of available storage.

  • CNBC
  • April 22 @ 12:22 am
  • CNBC
  • April 22 @ 12:22 am

Meltdown in oil continues as Brent plunges 10%

Oil prices continued to plummet on Wednesday, with traders concerned about a building supply glut and a lack of available storage.

  • CNBC
  • April 22 @ 12:22 am
  • CNBC
  • April 22 @ 12:22 am

Meltdown in oil continues as Brent plunges 14%

Oil prices continued to plummet on Wednesday as concerns over limp demand and limited remaining storage capacity lingered.

  • CNBC
  • April 22 @ 12:22 am
  • CNBC
  • April 22 @ 12:22 am

Meltdown in oil continues as Brent plunges 13%

Oil prices continued to plummet on Wednesday as concerns over limp demand and limited remaining storage capacity lingered.

  • CNBC
  • April 22 @ 12:22 am
  • CNBC
  • April 22 @ 12:22 am

Meltdown in oil continues as Brent plunges more than 15%

Oil prices continued to plummet on Wednesday as concerns over limp demand and limited remaining storage capacity lingered.

  • CNBC
  • April 22 @ 12:22 am
  • CNBC
  • April 22 @ 12:22 am

Jim Cramer says it’s a ‘mistake’ for investors to read too deep into the oil collapse

The stock market is "rolling back some of those gains" from the $2.2 trillion economic rescue package that Congress passed, the "Mad Money" host said.

  • CNBC
  • April 21 @ 5:58 pm
  • CNBC
  • April 21 @ 5:58 pm

Stocks drop after oil hits historic lows – Cramer and four others on what to expect

U.S. stocks dropped sharply Tuesday after a historic sell-off hit oil markets. Five experts weigh in on what investors should watch.

  • CNBC
  • April 21 @ 3:46 pm
  • CNBC
  • April 21 @ 3:46 pm

What plunging crude prices mean for the market’s largest oil ETF

Two ETF analysts break down the action in the United States Oil Fund (USO), which has seen outsized trading volumes in recent days.

  • CNBC
  • April 21 @ 10:00 am
  • CNBC
  • April 21 @ 10:00 am

Oil traders have never seen an ‘insane’ market like this, fear more declines to negative prices

After oil prices fell into negative territory for the first time in history, here's what traders are saying about where prices could go next.

  • CNBC
  • April 21 @ 6:16 am
  • CNBC
  • April 21 @ 6:16 am

Oil traders have never seen ‘insane’ market like this before, fear more declines to negative prices

Oil prices fell into negative territory for the first time in history on Monday. Here's what traders are saying about where prices could go next.

  • CNBC
  • April 21 @ 6:16 am
  • CNBC
  • April 21 @ 6:16 am

Anyone who thinks oil has hit a floor is ‘playing with fire’ — yes, prices can go lower

"The potential for prices to go lower is very likely" and markets could see a repeat of negative oil prices next month, analysts told CNBC.

  • CNBC
  • April 21 @ 4:33 am
  • CNBC
  • April 21 @ 4:33 am

Coronavirus harms the oil market more than OPEC friction, oil commodities expert says

"I would say that … 15% of this is Saudi Arabia and Russia and 85% of it is Covid," RBN Energy CEO Rusty Braziel said of the state of the oil market.

  • CNBC
  • April 20 @ 8:08 pm
  • CNBC
  • April 20 @ 8:08 pm

As crude oil drops to historic lows, chart analyst sees 90-year record for energy stocks

It was a historic day on the oil markets. Ari Wald of Oppenheimer sees a record-making move in energy stocks, too.

  • CNBC
  • April 20 @ 5:15 pm
  • CNBC
  • April 20 @ 5:15 pm

Crude prices plunge to lowest level in history — what Cramer and others are watching

With oil demand collapsing, CNBC's Jim Cramer and other top market analysts share their outlook for the commodity.

  • CNBC
  • April 20 @ 3:04 pm
  • CNBC
  • April 20 @ 3:04 pm

Saudi oil official refutes claim that crude exports to the US rose last month

An official contradicted conclusions from TankerTrackers.com, which said on Friday that Saudi Arabian oil exports to the U.S. more than doubled from February to March as oil prices crashed.

  • CNBC
  • April 17 @ 3:25 am
  • CNBC
  • April 17 @ 3:25 am

Saudi Arabia’s oil exports to the US skyrocketed in the last month

Satellite tracking of oil tankers revealed a whopping 12.1 million barrels of Saudi oil exported globally in the first week of April alone.

  • CNBC
  • April 17 @ 3:25 am
  • CNBC
  • April 17 @ 3:25 am

Parsley Energy CEO says Texas must cut oil production, which hasn’t happened since the 1970s

"My stance is if we don't do something quickly in the face of a pandemic, you are going to cripple this domestic industry on the other side," CEO Matt Gallagher told CNBC.

  • CNBC
  • April 15 @ 5:49 pm
  • CNBC
  • April 15 @ 5:49 pm

Oil prices may now be at a bottom after historic OPEC deal, US energy secretary says

An early victim of the oil price crash has been the U.S. shale industry, which is now hemorrhaging jobs as highly-indebted oil producers in the U.S. begin filing for bankruptcy.

  • CNBC
  • April 15 @ 5:43 am
  • CNBC
  • April 15 @ 5:43 am

IMF warns ‘vulnerabilities high’ in the Middle East hit with dual shock of coronavirus and oil plunge

The IMF expects the MENA region to contract by 3.3% in 2020, compared to last year's projected growth of 0.3%.

  • CNBC
  • April 15 @ 5:30 am
  • CNBC
  • April 15 @ 5:30 am

Coronavirus crisis will erase nearly a decade of oil demand growth this year, IEA says

The International Energy Agency said Wednesday it expects the coronavirus crisis to erase almost a decade of oil demand growth in 2020.

  • CNBC
  • April 15 @ 3:00 am
  • CNBC
  • April 15 @ 3:00 am

OPEC+ deal saved ‘more than 2 million’ jobs in the US, says Russia’s sovereign wealth fund chief

America's shale patch was seen to be vulnerable when oil prices went into a free fall amid the Russia-Saudi Arabia price war, but the latest OPEC+ deal will save jobs in the U.S. oil industry, said Kirill Dmitriev of RDIF.

  • CNBC
  • April 13 @ 4:52 am
  • CNBC
  • April 13 @ 4:52 am

All gassed up and nowhere to go: Gasoline prices are at multi-year lows, but no one is driving

Gas prices are at their lowest level since 2016, but with the majority of the U.S. on lockdown, consumers can't take advantage of cheaper fuel.

  • CNBC
  • April 12 @ 5:25 pm
  • CNBC
  • April 12 @ 5:25 pm

OPEC and allies will hold an emergency virtual meeting Sunday night to finalize cut agreement

OPEC and its allies agreed to a historic 10 million barrel per day production cut Thursday, but opposition from Mexico is holding up a final deal.

  • CNBC
  • April 12 @ 8:31 am
  • CNBC
  • April 12 @ 8:31 am

Record oil production cut hangs in the balance as G-20 meeting concludes with no specifics

Energy ministers from the world's largest industrialized nations did not discuss specific production numbers at their extraordinary meeting, meaning the 10 million barrels per day production cut proposed by OPEC and its allies remains uncertain.

  • CNBC
  • April 10 @ 6:52 pm
  • CNBC
  • April 10 @ 6:52 pm

Record oil production cut hangs in the balance as G20 meeting concludes with no specifics

G20 energy ministers did not discuss specific production numbers at their extraordinary meeting, meaning the 10 million barrels per day production cut proposed by OPEC and its allies remains uncertain.

  • CNBC
  • April 10 @ 6:52 pm
  • CNBC
  • April 10 @ 6:52 pm

Mexico throws OPEC’s historic oil production cut into doubt ahead of G-20 meeting

The historic deal was agreed on by all OPEC and non-OPEC producers participating in the conference, with the exception of Mexico.

  • CNBC
  • April 10 @ 4:26 am
  • CNBC
  • April 10 @ 4:26 am

These are the three big things to focus on from OPEC and the G-20 meetings over the next 48 hours

These are the three things to focus on from OPEC and the G-20 meetings over the next 48 hours to discuss global energy markets.

  • CNBC
  • April 9 @ 9:03 am
  • CNBC
  • April 9 @ 9:03 am

OPEC and allies’ historic oil cut hits snag as Mexico reportedly rejects deal

A historic agreement between OPEC and its allies to cut production hit a roadblock late on Thursday as Mexico reportedly refused to curb production.

  • CNBC
  • April 9 @ 7:59 am
  • CNBC
  • April 9 @ 7:59 am

OPEC and allies agree to historic 10 million barrel per day production cut

OPEC and its allies, known as OPEC+, on Thursday agreed to historic production cuts that will take 10 million barrels per day offline as the coronavirus pandemic saps demand for crude.

  • CNBC
  • April 9 @ 7:59 am
  • CNBC
  • April 9 @ 7:59 am

Oil drops 9%, giving back early double-digit gain as traders await OPEC cut details

Oil prices moved higher on Thursday as some of the world's largest producers held a meeting on oil production policy.

  • CNBC
  • April 9 @ 7:59 am
  • CNBC
  • April 9 @ 7:59 am

Crude oil gives up 12% gain, turns negative as traders await OPEC cut details

Oil prices moved higher on Thursday as some of the world's largest producers held a meeting on oil production policy.

  • CNBC
  • April 9 @ 7:59 am
  • CNBC
  • April 9 @ 7:59 am

Oil jumps as much as 12% then cuts gains as traders await OPEC cut details

Oil prices moved higher on Thursday as some of the world's largest producers held a meeting on oil production policy.

  • CNBC
  • April 9 @ 7:59 am
  • CNBC
  • April 9 @ 7:59 am

Oil jumps as much as 12% amid report Saudi Arabia and Russia have reached a deal, cut could reach 20 million barrel

Oil prices moved higher on Thursday as some of the world's largest producers held a meeting on oil production policy.

  • CNBC
  • April 9 @ 7:59 am
  • CNBC
  • April 9 @ 7:59 am

Oil jumps ahead of ‘make-or-break’ OPEC meeting

Oil prices moved higher on Thursday as some of the world's largest producers prepare to hold a meeting on oil production policy.

  • CNBC
  • April 9 @ 7:59 am
  • CNBC
  • April 9 @ 7:59 am

OPEC and allies to decide on historic oil production cut as coronavirus ravages demand

A simmering feud between Saudi Arabia and Russia is thought to be one of many possible complications to an unprecedented production cut.

  • CNBC
  • April 9 @ 4:49 am
  • CNBC
  • April 9 @ 4:49 am

Expectations for an oil deal remain low ahead of crucial OPEC+ meeting

The tense dynamics of big egos and foreign relations among the world's energy heavyweights will determine much of the global oil industry's future.

  • CNBC
  • April 8 @ 9:04 am
  • CNBC
  • April 8 @ 9:04 am

Exxon cuts capital spending by 30%, but CEO says it’s ‘committed to maintaining’ dividend

Exxon is cutting its capital spending by 30% as the coronavirus pandemic continues to hammer oil prices.

  • CNBC
  • April 7 @ 8:13 am
  • CNBC
  • April 7 @ 8:13 am

A historic production cut from global oil powers this week ‘won’t necessarily help all that much’

G-20 energy ministers will convene for their own extraordinary meeting on Friday, one day after OPEC+ producers sit down for talks.

  • CNBC
  • April 7 @ 5:52 am
  • CNBC
  • April 7 @ 5:52 am

Wall Street strategist is skeptical of Russia-Saudi ‘dance,’ says investors should wait

Cantor Fitzgerald's global chief market strategist Peter Cecchini said on "Closing Bell" that investors shouldn't bet on a global production deal to save U.S. energy companies.

  • CNBC
  • April 6 @ 3:46 pm
  • CNBC
  • April 6 @ 3:46 pm

Opinion: Hollywood couldn’t script a plotline like what’s happening in oil right now

Keeping up with all the recent twists and turns in the oil market is difficult. Here's where things stand as what could be a pivotal week gets underway.

  • CNBC
  • April 6 @ 2:43 pm
  • CNBC
  • April 6 @ 2:43 pm

Brent crude could plunge to ‘single-digit lows’ if OPEC+ can’t agree on output cuts: Fitch Soluti

The Organization of the Petroleum Exporting Countries and its allies are expected to meet on Thursday instead of Monday — to try to agree on production cuts.

  • CNBC
  • April 6 @ 2:13 am
  • CNBC
  • April 6 @ 2:13 am

Moscow and Riyadh are ‘very, very close’ to an oil deal, says Russia’s sovereign wealth fund chie

The deal will bring "so much important stability to the market" and the two sides are "very close," said Kirill Dmitriev, CEO of Russia's sovereign wealth fund RDIF.

  • CNBC
  • April 6 @ 12:32 am
  • CNBC
  • April 6 @ 12:32 am

Oil prices could plunge below $20 a barrel this quarter as demand craters: CNBC survey

A historic demand shock sparked by the coronavirus pandemic is set to worsen in the current quarter, according to a CNBC survey of 30 strategists, analysts and traders.

  • CNBC
  • April 5 @ 11:08 pm
  • CNBC
  • April 5 @ 11:08 pm

Trump could impose ‘very substantial’ tariffs on oil imports, but doesn’t think he’ll need

"I would use tariffs, if I had to. I don't think I'm going to have to," President Donald Trump said Sunday.

  • CNBC
  • April 5 @ 8:12 pm
  • CNBC
  • April 5 @ 8:12 pm

Royal Dutch Shell reskills workers in artificial intelligence as part of huge energy transition

Royal Dutch Shell has partnered with Udacity to digitally train its workers in artificial intelligence.

  • CNBC
  • April 3 @ 8:57 am
  • CNBC
  • April 3 @ 8:57 am

Oil jumps 12%, posts best week in history as traders expect big production cuts

Oil posted its best week ever on the hope that a production cut deal will soon be reached.

  • CNBC
  • April 3 @ 7:45 am
  • CNBC
  • April 3 @ 7:45 am

OPEC and allies reportedly set for video meeting as analysts pour skepticism on Trump’s intervention

Oil producer group OPEC and its partners will reportedly hold an emergency virtual meeting on Monday.

  • CNBC
  • April 3 @ 5:01 am
  • CNBC
  • April 3 @ 5:01 am

Whiting Petroleum is just the ‘first domino’ to fall in US shale wipeout, strategist says

The sector faces what may well be a bloodbath as companies slash spending and jobs.

  • CNBC
  • April 2 @ 8:45 am
  • CNBC
  • April 2 @ 8:45 am

Saudi Arabia’s big oil gamble will hurt the kingdom — but it’ll likely pay off

The International Energy Agency expects global oil demand to contract by a stunning 20% this year.

  • CNBC
  • April 2 @ 12:26 am
  • CNBC
  • April 2 @ 12:26 am

GOP senator calls on Saudis to end their oil price war, says ‘Americans died’ protecting the kingdom

"The Saudis have really brought in a supply shock at exactly the wrong time," Alaska Sen. Dan Sullivan said Wednesday.

  • CNBC
  • April 1 @ 8:40 am
  • CNBC
  • April 1 @ 8:40 am

Oil prices could soon turn negative as the world runs out of places to store crude, analysts warn

The coronavirus crisis has led to an unprecedented demand shock in oil markets, with storage space quickly running out.

  • CNBC
  • April 1 @ 6:13 am
  • CNBC
  • April 1 @ 6:13 am

5 charts that explain the Saudi Arabia-Russia oil price war so far

Oil prices have fallen more than 60% since the beginning of 2020 as an agreement between OPEC and its allies expires and the coronavirus crisis continues.

  • CNBC
  • April 1 @ 1:57 am
  • CNBC
  • April 1 @ 1:57 am

As energy stocks tumble, these names have best chance of survival

The crude oil crush has taken down energy stocks, but there may be some survivors.

  • CNBC
  • March 31 @ 7:31 am
  • CNBC
  • March 31 @ 7:31 am

Oil prices just had their worst ever quarter as coronavirus slashes demand

Oil prices registered their worst quarterly performance on record over the first three months of the year.

  • CNBC
  • March 31 @ 3:21 am
  • CNBC
  • March 31 @ 3:21 am

Ted Cruz, other senators, warn Saudis to stop using oil in ‘economic warfare’ against the US

Cruz said he and other senators recently ripped into the Saudi ambassador in a conference call over its oil price war with Russia.

  • CNBC
  • March 30 @ 9:18 am
  • CNBC
  • March 30 @ 9:18 am

Goldman on how the ‘largest economic shock of our lifetimes’ will permanently alter energy markets

The coronavirus pandemic will likely be a "game-changer" for energy markets, according to analysts at Goldman Sachs.

  • CNBC
  • March 30 @ 7:22 am
  • CNBC
  • March 30 @ 7:22 am

US set to lose spot as world’s top oil producer — and doesn’t have the tools to do anything about it

In America's shale country, budgets have been slashed, capital investment put on hold, and workers laid off.

  • CNBC
  • March 30 @ 7:05 am
  • CNBC
  • March 30 @ 7:05 am

Oil demand could decline by 20 million barrels a day in April, says oil expert Dan Yergin

The oil market is facing a "double crisis" with a collapse in the OPEC+ alliance affecting supply and the slowdown in the world economy crushing demand, oil guru Dan Yergin said this week.

  • CNBC
  • March 30 @ 3:36 am
  • CNBC
  • March 30 @ 3:36 am

Oil prices fall to 17-year low as Saudi Arabia-Russia standoff continues, coronavirus hits demand

Oil prices fell to the lowest in more than 17 years as demand plunged as a result of the pandemic, and an unrelenting price war between Saudi Arabia and Russia showed no signs of easing.

  • CNBC
  • March 30 @ 12:21 am
  • CNBC
  • March 30 @ 12:21 am

Cramer sees oil plummeting below $20 per barrel on dual coronavirus-price war crises

"It's the wildcard. It's the thing that no one seems to be able to stop. And it's deflationary not at a time we want to see deflation," Cramer said.

  • CNBC
  • March 27 @ 10:22 am
  • CNBC
  • March 27 @ 10:22 am

US suspends plans to buy oil after funding is left out of $2 trillion stimulus package

The U.S. Department of Energy is suspending its plans to buy crude for the country's Strategic Petroleum Reserve after a requested $3 billion in funding for the project was left out of the $2 trillion stimulus package.

  • CNBC
  • March 26 @ 11:02 am
  • CNBC
  • March 26 @ 11:02 am

US urges Saudi Arabia to ‘rise to the occasion’ and end its oil price war with Russia

The U.S. has called on OPEC kingpin Saudi Arabia to put a stop to its ongoing oil price war with non-OPEC leader Russia.

  • CNBC
  • March 25 @ 9:41 am
  • CNBC
  • March 25 @ 9:41 am

Chevron CEO says the dividend is the company’s No. 1 priority and is ‘very secure’

Energy companies are facing declining returns as oil prices fall, but Chevron CEO Michael Wirth said the company has no plans to slash its dividend.

  • CNBC
  • March 24 @ 7:03 am
  • CNBC
  • March 24 @ 7:03 am

Oil jumps 3% in volatile session as Fed promises aggressive asset purchases to support markets

Oil prices are on track for their worst month on record as the coronavirus outbreak weighs on demand, just as OPEC+ producers get ready to ramp up production.

  • CNBC
  • March 22 @ 5:21 pm
  • CNBC
  • March 22 @ 5:21 pm

Crude oil spikes in best day ever – here’s what could come next

Crude oil had its best day ever, just a day after its third-worst drop in history. Three market experts weigh in.

  • CNBC
  • March 19 @ 4:41 pm
  • CNBC
  • March 19 @ 4:41 pm