Business Algeria

  • *Possible OPEC deal in Algiers though details only in Nov. NEW YORK, Sept 28- Oil prices rose more than 2 percent in volatile trade on Wednesday on speculation that OPEC members gathered in Algeria could lay the foundation for a production-limiting deal in November. Members of the Organization of the Petroleum Exporting Countries may announce an output freeze...

  • NEW YORK, Sept 28- U.S. stock prices slipped on Wednesday after comments from Federal Reserve Chair Janet Yellen raised concerns about increased banking regulations, while oil prices rose in choppy trading amid hopes of an output agreement and data showing a bigger-than-expected increase in U.S. gasoline inventories. The dollar rose against the euro as...

  • *Iran wants much higher share of OPEC production. ALGIERS, Sept 28- OPEC might still agree an oil output-limiting deal later this year as the economic problems of its de-facto leader Saudi Arabia force Riyadh to cede more ground to arch-rival Iran. That represents a strategy shift for Riyadh, which has said it would reduce output to ease the global glut only if...

  • OPEC members struggle to reach agreement

    CNBC's Hadley Gamble reports from Algiers as OPEC members meet on the sidelines of the International Energy Forum.

  • *Traders watching Algiers oil producers' meeting. LONDON, Sept 28- Gold prices hit a one-week low on Wednesday, as the dollar firmed and investors assessed Federal Reserve Chair Janet Yellen's testimony before a Congressional committee. Gold's next technical support level stands at $1,320, while the closest resistance is $1,350, MKS SA head of trading Afshin...

  • *Oil up on U.S. inventories data, eyes on Algiers talks. LONDON, Sept 28- A recovery in Deutsche Bank shares helped push European stocks higher on Wednesday, easing concerns over Germany's financial sector that had hit equities in Asia and drove investors into safe-haven government bonds and the dollar. Federal Reserve Chair Janet Yellen and European Central...

  • *Iran wants much higher share of OPEC production. ALGIERS, Sept 28- OPEC might still agree an oil output-limiting deal later this year as the economic problems of its de-facto leader Saudi Arabia force Riyadh to cede more ground to arch-rival Iran. That represents a strategy shift for Riyadh, which has previously said it would reduce output only if every other...

  • He also expressed skepticism over the significance of a potential OPEC deal on freezing production. Ian Taylor asked a Bloomberg conference in London. Investors were closely watching an OPEC meeting in Algiers this week anticipating that the cartel would finally agree a plan to tackle a global crude surplus that sent oil prices tumbling in 2014.

  • *Iran wants much higher share of OPEC production. ALGIERS, Sept 28- OPEC might still agree an oil output-limiting deal later this year as the economic problems of its de-facto leader Saudi Arabia force Riyadh to cede more ground to arch-rival Iran. That represents a strategy shift for Riyadh, which has previously said it would reduce output only if every other...

  • RBC Capital Markets says oil prices may slip to $40 or lower if OPEC members leave Algeria without any promise of a deal.

  • *Traders watching Algiers oil producers' meeting. LONDON, Sept 28- Gold prices hit a one-week low on Wednesday, as the dollar firmed and investors shifted their focus to Federal Reserve chair Janet Yellen's testimony later in the day. "It is probably going to be a case of watching out for these Fed officials' comments," Mitsubishi Corp analyst Jonathan Butler said.

  • ALGIERS, Algeria— OPEC nations reached a preliminary agreement Wednesday to curb oil production for the first time since the global financial crisis eight years ago, in an effort to reduce a global glut of crude that has depressed oil prices for more than two years and weakened the economies of oil-producing nations. The deal was reached after several hours of...

  • Saudi-Arabia-Iran tensions ignite OPEC worries

    CNBC's Hadley Gamble reports OPEC members are struggling to reach an agreement on oil production.

  • *Oil up on U.S. inventories data, eyes on Algiers talks. LONDON, Sept 28- A rise in Deutsche Bank shares helped push European stocks higher on Wednesday, easing concerns over Germany's financial sector that had hit equities in Asia and drove investors into safe-haven government bonds and the dollar. Federal Reserve Chair Janet Yellen's appearance before a...

  • TOKYO, Sept 28- Asian stocks were mostly lower on Wednesday, with European banking sector concerns and lower crude oil prices dulling investors' appetite for riskier assets. Equities in Asia had gained the previous day on a perceived win by Democrat Hillary Clinton at the first presidential debate over Republican Donald Trump, who is seen as creating greater...

  • TOKYO, Sept 28- Asian stocks edged up early on Wednesday following an overnight rise for U.S. stocks, while reduced hopes that a meeting of major producers would reduce a oversupply weighed heavily on crude oil prices. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1 percent. Oil fell about 3 percent on Tuesday after Saudi Arabia and Iran...

  • Shot in the foot

    The OPEC meeting in Algeria may not have resulted in a resolution as of Tuesday, but at least one person is optimistic.

  • TORONTO, Sept 27- Energy and mining stocks dragged Canada's main stock index lower on Tuesday, canceling out a modest relief rally elsewhere from a perceived win for Democrat Hillary Clinton in a U.S. presidential debate. Oil fell about 3 percent after Saudi Arabia and Iran dashed market hopes that the two major OPEC producers would find a compromise this week at...

  • TORONTO, Sept 27- Energy and mining stocks dragged Canada's main stock index lower on Tuesday, cancelling out a modest relief rally elsewhere from a perceived win for Democrat Hillary Clinton in a U.S. presidential debate. Oil fell about 3 percent after Saudi Arabia and Iran dashed market hopes that the two major OPEC producers would find a compromise this week...

  • *Iran, Libya, Nigeria should maximize output- Saudi Arabia. NEW YORK, Sept 27- Oil fell about 3 percent on Tuesday after Saudi Arabia and Iran dashed market hopes that the two major OPEC producers would find a compromise this week at meeting in Algiers to help ease a global glut of crude. Saudi Energy Minister Khalid al-Falih told reporters in the Algerian capital,...