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Business Algeria

  • LONDON, Dec 5- OPEC has finally agreed to cut production, but only after two years of fruitless negotiations. So what changed to make an agreement possible now, after it had eluded negotiators at previous OPEC meetings? Saudi officials have long stated that it would only be possible to reach an OPEC agreement once Iran had normalized its output following the...

  • LONDON, Dec 5- OPEC has finally agreed to cut production, but only after two years of fruitless negotiations. So what changed to make an agreement possible now, after it had eluded negotiators at previous OPEC meetings? Saudi officials have long stated that it would only be possible to reach an OPEC agreement once Iran had normalized its output following the...

  • LONDON, Dec 5- OPEC has finally agreed to cut production, but only after two years of fruitless negotiations. So what changed to make an agreement possible now, after it had eluded negotiators at previous OPEC meetings? Saudi officials have long stated that it would only be possible to reach an OPEC agreement once Iran had normalized its output following the...

  • LONDON, Dec 5- OPEC has finally agreed to cut production, but only after two years of fruitless negotiations. So what changed to make an agreement possible now, after it had eluded negotiators at previous OPEC meetings? Saudi officials have long stated that it would only be possible to reach an OPEC agreement once Iran had normalized its output following the...

  • *First joint cut between OPEC and Russia since 2001. MOSCOW, Dec 2- Russia plans to use its November oil production, which was its highest in almost 30 years, as its baseline when it cuts output under this week's deal with OPEC, Deputy Energy Minister Kirill Molodtsov said on Friday. Under this week's follow-up agreement, the first between OPEC and Russia since 2001,...

  • *First joint cut between OPEC and Russia since 2001. MOSCOW, Dec 2- Russia plans to use its post-Soviet era record high November oil production as its baseline when it cuts output under this week's deal with OPEC, Deputy Energy Minister Kirill Molodtsov said on Friday. Under this week's follow-up agreement, the first between OPEC and Russia since 2001, specific...

  • OPEC Deal

    Arab monarch-led OPEC nations have incentives to adhere to the output cut, says Mark Keenan at Societe Generale.

  • 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,"...