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Business Algeria

  • *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...

  • Saudi Arabia's Energy Minister Khalid al-Falih arrives for an informal meeting between members of the Organization of Petroleum Exporting Countries, OPEC, in the Algerian capital Algiers, on September 28, 2016.

    Saudi Arabia's Energy Minister Khalid al-Falih said on Sunday he had invited his Russian counterpart Alexander Novak to meet Gulf Arab energy ministers.

  • Skyscrapers stand in the King Abdullah financial district in Riyadh, Saudi Arabia, on Saturday, Jan. 9, 2016.

    The past week signaled that Saudi Arabia's role as the undisputed leader of the OPEC cartel is changing.

  • 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.

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

  • Saudi-Arabia-Iran tensions ignite OPEC worries

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

  • 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.

  • OPEC freeze unlikely: Minister

    Nigerian Oil Minister Emmanuel Ibe Kachikwu, says that an OPEC freeze is not likely, but "honesty" is the real progress at the meeting in Algeria.

  • OPEC to release plan for possible cuts: Report

    CNBC's Hadley Gamble has the update from OPEC leaders meeting in Algeria to dicuss oil production.

  • Hopes fade for OPEC oil freeze deal

    Saudi Arabia needs to cut rather than freeze, says Barclays' Miswin Mahesh providing his outlook on oil as OPEC and non-OPEC producers fail to agree on oil production.

  • Will OPEC's haves and have-nots reach an agreement? Not likely: Expert

    It's clear Russia has intentions of increasing production in a significant way, says Tom Petrie, Petrie Partners chairman, sharing insight to this week's meeting of OPEC leaders.