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Business Algeria

  • *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...

  • *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...

  • *OPEC members split over who should cut output and by how much. *OPEC papers propose 1.2 mln bpd cut from Oct levels- source. NEW YORK, Nov 29- Oil slumped by roughly 4 percent on Tuesday as OPEC's leading oil exporters struggled to agree on a deal to cut production to reduce global oversupply and boost prices, with Iran and Iraq at loggerheads with Saudi Arabia a day...

  • *OPEC members split over who should cut output and how much. *OPEC papers propose 1.2 mln bpd cut from Oct levels- source. *Asian OPEC buyers eye alternatives if OPEC cuts output.

  • *OPEC experts could not agree details in Monday talks. OPEC sources told Reuters a meeting of experts in Vienna on Monday failed to bridge differences between OPEC's de facto leader, Saudi Arabia, and the group's second- and third-largest producers over the mechanics of output cuts. On Tuesday, tensions rose further after Iran wrote to OPEC saying it wanted Saudi...

  • *OPEC members split over who should cut output and how much. *OPEC papers propose 1.2 mln bpd cut from Oct levels- source. *Asian OPEC buyers eye alternatives if OPEC cuts output.

  • *OPEC experts could not agree details in Monday talks. OPEC sources told Reuters a meeting of experts in Vienna on Monday failed to bridge differences between OPEC's de facto leader, Saudi Arabia, and the group's second- and third-largest producers over the mechanics of output cuts. On Tuesday, tensions rose further after Iran wrote to OPEC saying it wanted Saudi...

  • Nov 29- Oil futures slipped on Tuesday as Iran and Iraq remained at loggerheads with Saudi Arabia over an oil production cut before a long-anticipated meeting of OPEC ministers the following day. Analysts' belief that the group would finalize a deal, if only to save face, has been eroded in recent days after Saudi Arabia said oil markets would balance next year...

  • Nov 28- Oil futures jumped on Monday after heavy falls in the previous session, reflecting volatility as OPEC officials try to salvage a deal to cut crude production ahead of a long-anticipated formal meeting of the group's ministers on Wednesday. But the chances of an agreement declined over the weekend after Saudi Arabia said oil markets would balance next...

  • FRANKFURT, Nov 27- Volkswagen signed a deal on Sunday to assemble cars in Algeria in a joint venture with its local car importer SOVAC, aiming for a production capacity of more than 100 vehicles per day from June 2017, VW and Algerian officials said. Algeria has been trying to boost investment and diversify its economy to compensate for a drop in oil and gas earnings...

  • OPEC oil ministers meet in Vienna on Wednesday in an effort to finalize that deal; OPEC also wants non- OPEC producers such as Russia to support the intervention by curbing their output. "We expect the level of demand to be encouraging in 2017, and the market will reach balance in 2017 even if there is no intervention by OPEC. But OPEC intervention aims to expedite...

  • *OPEC, non- OPEC officials were to meet on Monday in Vienna. DUBAI/ LONDON, Nov 25- Top OPEC oil exporter Saudi Arabia has told the producer group it will not attend talks on Monday with non- OPEC producers to discuss limiting supply, OPEC sources said, as it wants to focus on having consensus within the organisation first. "There is an official letter from saying not...

  • *OPEC, non- OPEC officials were to meet on Monday in Vienna. DUBAI/ LONDON, Nov 25- Top OPEC oil exporter Saudi Arabia has told the producer group it will not attend talks on Monday with non- OPEC producers to discuss limiting supply, OPEC sources said, as it wants to focus on having consensus within the organization first. "There is an official letter from saying not...