Business Africa

  • *Iran says Russia would cut once OPEC reaches deal. VIENNA, Nov 30- OPEC has agreed its first limit on oil output since 2008, sources in the producer group told Reuters, with Saudi Arabia accepting "a big hit" on its production and agreeing to arch-rival Iran freezing output at pre-sanctions levels. The source added that OPEC had also suspended Indonesia from OPEC...

  • *OPEC deal boosts inflation expectations. OPEC member Algeria was proposing to set a new production ceiling at 32.5 million barrels per day, down from current levels of 33.6 million. "I think most of the move this morning was related to the OPEC news, speculation about a production cut and the increase in oil prices and as a result inflation expectations as well,"...

  • *OPEC agrees first output cut since 2008- source. The Organization of the Petroleum Exporting Countries has agreed its first output limiting deal in eight years, an OPEC source told Reuters as the debates continued in Vienna on the exact size of each member's cuts. Key OPEC member Saudi Arabia said it was prepared to accept "a big hit" on its own production and agree...

  • TUNIS, Nov 30- Tunisia is seeking to firm up actual investment deals to go along with a series of pledges of financial support it has received at an international conference being held this week to energise it's fragile economy. Qatar's Mejda Group signed a deal to develop a $220 million tourism complex, including a luxury hotel and a shopping centre, just outside...

  • *Iran says Russia would cut if OPEC reaches deal. VIENNA, Nov 30- OPEC has agreed its first limit on oil output since 2008, an OPEC source told Reuters after Saudi Arabia said it was prepared to accept "a big hit" on production and agree to arch-rival Iran freezing output at pre-sanctions levels. Before the meeting, Saudi Energy Minister Khalid al-Falih said OPEC was...

  • *Oil soars amid signals of OPEC production cut. LONDON, Nov 30- Oil jumped more than 8 percent and the dollar, U.S. bond yields and stocks all pushed higher on Wednesday as signals from OPEC suggested the group was closing in on a deal to cut production. Combined with fresh concern about China's banking system, a stress test for British banks and a raft of euro zone data,...

  • VIENNA, Nov 30- The Organization of the Petroleum Exporting Countries has agreed its first oil output cuts since 2008, an OPEC source told Reuters on Wednesday. The source said the agreement was in line with an accord reached in Algiers in September. OPEC member Algeria was proposing to set a new production ceiling at 32.5 million barrels per day, down from...

  • *OPEC discussing output cut of 1.4 mln bpd- source. *Iraq, Iran both say optimistic deal will be reached. LONDON, Nov 30- Oil prices jumped more than 8 percent on Wednesday to a five-week high as some of the world's largest oil producers gathered in Vienna to try to agree a production cut that could be bigger than expected.

  • LONDON, Nov 30- Investment banking fees earned in Europe, the Middle East and Africa account for just 24 percent of the global total so far this year, the lowest year-to-date share since records began in 2000, Thomson Reuters data shows. Britain's vote to leave the European Union in June and the ensuing uncertainty, a looming referendum on constitutional reform...

  • *Saudi Falih says OPEC close to reaching deal. *Iran says Russia would cut if OPEC reaches deal. Falih also said OPEC was focusing on reducing output to a ceiling of 32.5 million barrels per day, or cutting by more than 1 million bpd, and hoped Russia and other non- OPEC members would contribute a cut of another 0.6 million bpd.

  • *Iraq, Iran both say optimistic deal will be reached. LONDON, Nov 30- Oil prices jumped more than 7 percent on Wednesday as some of the world's largest oil producers gathered in Vienna to agree on a production cut that could be bigger than expected. The Organization of the Petroleum Exporting Countries started a meeting at 0900 GMT on Wednesday at its Vienna...

  • *Saudi Falih says OPEC close to reaching deal. *Iran says Russia would cut if OPEC reaches deal. Falih also said OPEC was focusing on reducing output to a ceiling of 32.5 million barrels per day, or cutting by more than 1 million bpd, and hoped Russia and other non- OPEC members would contribute a cut of another 0.6 million bpd.

  • *Saudi Falih says OPEC close to reaching a deal. *OPEC to study proposal to cut output by 1.2 mln bpd. Falih also said OPEC was focusing on reducing output to a ceiling of 32.5 million barrels per day, or cutting by more than 1 million bpd, and hoped Russia and other non- OPEC members would contribute a cut of another 0.6 million bpd.

  • *Iraq, Iran both say optimistic deal will be reached. *U.S. oil industry could gain from OPEC cut. LONDON, Nov 30- Oil jumped more than 5 percent on Wednesday, after the Saudi oil minister said an agreement among OPEC members on cutting output was close, putting the price on course for its biggest one-day move since April.

  • *OPEC to study proposal to reduce output by 1.2 mln bpd. VIENNA, Nov 30- OPEC began on Wednesday debating a deal to curtail oil production in an effort to prop up the price of crude, with Iran and Iraq resisting pressure from Saudi Arabia to participate fully in any action. Ministers from the Organization of the Petroleum Exporting Countries met informally at 0700...

  • *Iraq, Iran both say optimistic deal will be reached. *U.S. oil industry could gain from OPEC cut. SINGAPORE, Nov 30- Oil prices rose as much as 2 percent on Wednesday after an Iraqi delegate said that some form of deal would be reached between OPEC members who are meeting in Vienna to agree terms of a production cut to rein in oversupply.

  • VIENNA, Nov 30- OPEC began on Wednesday debating a deal to curtail oil production and prop up the price of crude, with Iran and Iraq resisting pressure from Saudi Arabia to participate fully in any action. On Tuesday, Iran wrote to OPEC saying it wanted Saudi Arabia to cut production by as much as 1 million barrels per day, much more than Riyadh is willing to offer, OPEC...

  • *Iran, Iraq resist Saudi pressure to cut output. *U.S. oil industry could gain from OPEC cut. SINGAPORE, Nov 30- Oil markets edged up in nervous trading on Wednesday ahead of an OPEC meeting later in the day, with members of the producer cartel trying to thrash out an output cut to curb oversupply that has seen prices more than halve since 2014..

  • *Iran, Iraq resist Saudi pressure to cut output. SINGAPORE, Nov 30- Oil markets edged up in nervous trading on Wednesday ahead of an OPEC meeting later in the day, with members of the producer cartel trying to thrash out an output cut to curb oversupply that has seen prices more than halve since 2014.. Oil dropped nearly 4 percent the previous session over disputes...

  • *Iran, Iraq resist Saudi pressure to cut output. SINGAPORE, Nov 30- Oil markets were jittery on Wednesday ahead of an OPEC meeting later in the day, with members of the producer cartel trying to thrash out an output cut to curb oversupply that has seen prices more than halve since 2014.. Oil dropped nearly 4 percent the previous session over disputes between Saudi...