OPEC deal appears to sink on Saudi-Iran split
Their ongoing regional rivalry stands in the way of an agreement to cut production aimed at bolstering oil prices
Watch CBS News
Their ongoing regional rivalry stands in the way of an agreement to cut production aimed at bolstering oil prices
Saudi Arabia, the world’s biggest oil producer and Iran’s rival within OPEC, appears to be more amenable to some sort of production limit
With supply outstripping demand, energy prices look ready to jump back into the headlines, and that's not a good thing
The International Energy Agency’s latest forecast sees less demand growth than it did previously, slamming oil prices
The tiny but wealthy OPEC member, an American ally, is ramping up its U.S. investments as oil income stumbles
The focus now is on China, which could take steps to boost its economy following a weak inflation report
Rising production and inventories suggest drivers are likely to get more relief even though it's summer driving season
Latest data on globe's oil reserves also confirms there is "relatively limited amount of recoverable oil left on the planet"
After meeting, oil ministers suggested they were satisfied that prices had recovered from a 13-month nadir earlier this year
U.S. futures augured a subdued opening on Wall Street, with both the Dow and S&P futures down less than 0.1 percent
As the cartel gets set to meet again, agreement on strategy is likely to remain elusive, but that's been working out OK
Ambitious reforms include selling state assets, cutting government perks and creating a $2 trillion development fund
A sweet combination of positives has lifted the Dow within a hair of 18,000, but several counterweights remain
Torrid production -- especially in the Mideast -- and bulging stockpiles suggest the recent price uptick is temporary
Tied in lockstep motion, they'll both need to rally to give investors any hope the market can break out to new highs
The country's oil minister also says an OPEC output cut would subsidize high-cost producers, like U.S. shale drillers
The International Energy Agency's long-term forecast expects production cuts that will eventually lead to higher prices
The International Energy Agency's latest forecast pushes back the time frame for any rebound
To the contrary, the country plans to keep hiking oil production until it's back to pre-sanction levels
Countries offered to freeze output levels at January levels only if other producers follow suit
What's the economic fallout when the world pumps a million and a half more barrels of oil a day than it needs?
A gallon of gas will average $2.36 in 2016, higher than this year but still below the $3.28 a gallon average in late 2013
It'll either create jobs and make the U.S. stronger, or make the earth even warmer and cost U.S. consumers
Investors take evasive action as crude prices fall to a seven-year low, hitting energy industry earnings
As crude crashes through multiyear lows, the impacts depend greatly on which side of the market you're talking about