Business Algeria

  • ALGERIA ENERGY MINISTER SAYS ALGIERS GATHERING OF OIL PRODUCERS MAY TURN INTO FORMAL OPEC MEETING.

  • *Algeria seeks new financing sources after oil drop. ALGIERS, Sept 25- Algeria plans to allow its dominant state banks to list on the local stock exchange to help develop its financial markets and diversify sources of funding after the oil price slide, a senior financial official said. But the oil price drop since 2014 has put Algeria under financial pressure,...

  • *Algeria seeks new financing sources after oil drop. ALGIERS, Sept 25- Algeria plans to allow its dominant state banks to list on the local stock exchange to help develop its financial markets and diversify sources of funding after the oil price slide, a senior financial official said. But the oil price drop since 2014 has put Algeria under financial pressure,...

  • Darst: Watch DELAY

    David Darst, independent investment consultant, discusses his market theme of the week: D.E.L.A.Y

  • As if European politicians did not have enough on their plates grappling with Britain's exit from the European Union, Italy will start the countdown towards a high-stakes referendum on constitutional reform. With polls suggesting the vote-- expected in November or December-- could be close, and Prime Minister Matteo Renzi having staked his job on the vote, the...

  • NEW YORK, Sept 23- Oil prices fell sharply on Friday following a report that Saudi Arabia did not expect a deal at talks by major crude exporters next week aimed at freezing output and reining in a global glut, while world stock indexes edged lower. Traders cited a Bloomberg report that Saudi Arabia did not expect a decision at Algiers, where the biggest oil...

  • DUBAI/ LONDON, Sept 23- Saudi Arabia has offered to reduce oil production if rival Iran caps its own output this year, four sources familiar with the discussions told Reuters, as Riyadh tries to strike an elusive OPEC deal to curtail supply and boost prices. OPEC holds an informal meeting next week in Algiers, which non-OPEC Russia will also join.

  • NEW YORK, Sept 23- Oil prices fell about 3 percent on Friday, paring weekly gains, on a report that Saudi Arabia did not expect an agreement at talks next week among major crude exporters aimed at freezing production. Crude futures slumped after Bloomberg reported that Saudi Arabia did not expect a decision at Algiers, the capital of Algeria where the biggest oil...

  • CRUDE DOWN BY MORE THAN $1 A BARREL AFTER BLOOMBERG REPORTS SAUDI ARABIA DOESN'T EXPECT DECISION AT ALGIERS MEETING.

  • Saudi Arabia has offered to reduce oil production if rival Iran caps its own output this year, sources familiar with the discussions told Reuters as Riyadh seeks an OPEC deal to curtail supply and boost prices. The offer, yet to be accepted or rejected by Tehran, was made this month, the sources told Reuters ahead of three-day talks in Algeria beginning Monday...

  • DUBAI/ LONDON, Sept 23- Saudi Arabia has offered to reduce oil production if rival Iran caps its own output this year, four sources familiar with the discussions told Reuters as Riyadh seeks an OPEC deal to curtail supply and boost prices. OPEC holds an informal meeting next week in Algiers, which non-OPEC Russia will also join. Riyadh is ready to cut output to levels...

  • OPEC Algeria meeting will be a close one

    Miswin Mahesh, oil market analyst at Barclays, discusses potential outcomes for the upcoming OPEC meeting in Algiers.

  • DUBAI/ LONDON, Sept 22- As far as OPEC decision-making is concerned, Algeria, which plays host to oil ministers next week, has always been the land of surprises. The stars could align for OPEC again next week when its ministers return to Algiers and look ready to curb output for the first time in eight years, according to OPEC officials and sources.

  • NEW YORK, Sept 22- Oil prices rallied again on Thursday, boosted for a second day by U.S. government data that showed a surprising crude inventory drop, then crude futures pared gains as traders worried that OPEC was not nearing an agreement to reduce a global glut. Crude futures gave back some gains after Reuters reported that two days of talks in Vienna among...

  • OPEC and non- OPEC producers are expected to revive a production freeze deal for the first time in eight years when they meet in Algiers on Sept. 26-28 after a similar initiative collapsed in Doha in April because Iran refused to restrict its supplies. Iraq, along with Saudi Arabia, Iran and Russia has increased output to historic highs over the past year to fight...

  • DUBAI/ LONDON, Sept 22- As far as OPEC decision-making is concerned, Algeria, which plays host to oil ministers next week, has always been the land of surprises. The stars could align for OPEC again next week when its ministers return to Algiers and look ready to curb output for the first time in eight years, according to OPEC officials and sources.

  • LONDON, Sept 22- Oil rose 2 percent on Thursday, heading for its largest weekly gain in a month, after a surprisingly large drop in U.S. crude inventories emboldened investors ahead of next week's meeting between OPEC members and Russia to discuss supply. Brent crude futures rose 95 cents to $47.78 a barrel by 1345 GMT, up 4.3 percent so far this week and set for the...

  • LONDON, Sept 22- Oil rose for a second day on Thursday as a weaker dollar and a surprisingly large drop in U.S. crude inventories emboldened investors ahead of next week's meeting between OPEC members and Russia to discuss supply. Brent crude futures rose 44 cents to $47.27 a barrel by 1100 GMT, or a 3.2 percent gain so far this week, while U.S oil futures were up 47...

  • OPEC could finally be ready for a deal

    RBC Capital says next week's meeting in Algeria could produce an agreement to freeze production.

  • LONDON, Sept 22- Oil rose for a second day on Thursday as a weaker dollar and a surprisingly large drop in U.S. crude inventories emboldened investors ahead of next week's meeting between OPEC members and Russia to discuss supply. Brent crude futures rose 38 cents to $47.21 a barrel by 0917 GMT, or a 3.2 percent gain so far this week, while U.S oil futures were up 41...