Business Algeria

  • VIENNA, Dec 1- Russian President Vladmir Putin played a crucial role in helping OPEC rivals Iran and Saudi Arabia set aside differences to forge the cartel's first deal with non-OPEC Russia in 15 years. Interventions ahead of Wednesday's OPEC meeting came at key moments from Putin, Saudi Deputy Crown Prince Mohammed bin Salman and Iran's Supreme Leader...

  • Mohammed al-Sada, the energy minister for Qatar, and current president of OPEC, said key non- OPEC members had agreed to cuts of 600,000 bpd, of which Russia had committed to 300,000 bpd. OPEC will meet its non-cartel counterparts to discuss their contribution to the effort to limit output on Dec. 9. "While the inclusion of non- OPEC producers makes this a bigger...

  • Mohammed al-Sada, the energy minister for Qatar, and current president of OPEC, said key non- OPEC members had agreed to cuts of 600,000 bpd, of which Russia had committed to 300,000 bpd. OPEC will meet its non-cartel counterparts to discuss their contribution to the effort to limit output on Dec. 9. Oil soared more than 10 percent to over $50 a barrel and its highest in...

  • *OPEC agrees first output cut since 2008. *OPEC to cut production to 32.5 million bpd. Iraq, OPEC's second largest producer which had previously resisted cuts, providing a hurdle to a deal, agreed to reduce output by 200,000 bpd to 4.351 million bpd.

  • Mohammed al-Sada, the energy minister for Qatar, and current president of OPEC, said key non- OPEC members had agreed to cuts of 600,000 bpd, of which Russia had committed to 300,000 bpd. OPEC will meet its non-cartel counterparts to discuss their contribution to the effort to limit output on Dec. 9. The price of oil rose by nearly 10 percent at one point during the day...

  • *OPEC agrees first output cut since 2008. *OPEC to cut production to 32.5 million bpd. Iraq, OPEC's second largest producer which had previously resisted cuts, providing a hurdle to an agreement, agreed to reduce output by 200,000 bpd to 4.351 million bpd.

  • *OPEC agrees first output cut since 2008. *OPEC to cut production to 32.5 million bpd. Iraq, OPEC's second largest producer which had previously resisted cuts, providing a hurdle to an agreement, agreed to reduce output by 200,000 bpd to 4.351 million bpd.

  • Mohammed al-Sada, the energy minister for Qatar, and current president of OPEC, said key non- OPEC members had agreed to cuts of 600,000 bpd, of which Russia had committed to 300,000 bpd. OPEC will meet its non-cartel counterparts to discuss their contribution to the effort to limit output on Dec. 9. The price of oil rose by nearly 10 percent at one point during the day...

  • *OPEC agrees first output cut since 2008. *OPEC to cut production to 32.5 million bpd. Non- OPEC member Russia has agreed to cut output by 300,000 bpd.

  • *OPEC agrees first output cut since 2008- source. *Saudi Arabia says ready to accept "big hit" on production. New York, Nov 30- Oil prices rose more than 7 percent on Wednesday as some of the world's largest oil producers agreed to curb oil output for the first time since 2008 in a last-ditch bid to support prices.

  • *OPEC agrees first output cut since 2008- source. *Saudi Arabia says ready to accept "big hit" on production. 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.

  • *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...

  • *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.

  • *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...