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Business Algeria

  • *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...

  • *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...

  • *Most analysts expect OPEC- led cut to be agreed. Thanksgiving holiday and there was a reluctance to take on big price bets amid uncertainty about the planned OPEC- led production cut. OPEC is due to meet on Nov. 30 to coordinate the cut agreed in Algiers in September, potentially with the cooperation of Russia, which is not a member of the group.

  • *Most analysts expect OPEC- led cut to be agreed. Thanksgiving holiday and there was a reluctance to take on big price bets amid uncertainty about the planned OPEC- led production cut. OPEC is due to meet on Nov. 30 to coordinate the cut agreed in Algiers in September, potentially with the cooperation of Russia, which is not a member of the group.

  • *Most analysts expect OPEC- led cut to be agreed. Thanksgiving holiday and there was a reluctance to take on big price bets amid uncertainty about the planned OPEC- led production cut. OPEC is due to meet on Nov. 30 to coordinate the cut agreed in Algiers in September, potentially with the cooperation of Russia, which is not a member of the group.

  • Nov 22- Oil prices have risen to their highest in nearly a month, as expectations grow among traders and investors that OPEC will agree to cut production, but market watchers reckon a deal may pack less punch than Saudi Arabia and its partners want. Brent crude has risen 6.5 percent in the last two weeks, hitting nearly $50 a barrel for the first time since late...

  • *Baghdad has already told OPEC it will not cut production. LONDON/ BAGHDAD, Nov 18- Iraq would have to compensate international oil companies for limits placed on their production, according to industry sources and documents seen by Reuters, further reducing the prospect it will join any OPEC deal to curb the group's output. OPEC member Iraq pays developers a...

  • *Baghdad has already told OPEC it will not cut production. LONDON/ BAGHDAD, Nov 18- Iraq would have to compensate international oil companies for limits placed on their production, according to industry sources and documents seen by Reuters, further reducing the prospect it will join any OPEC deal to curb the group's output. OPEC member Iraq pays developers a...

  • RIYADH, Nov 17- Saudi Energy Minister Khalid al-Falih said on Thursday that OPEC should cut oil output to 32.5 million barrels per day, the lower end of a previously agreed range, to balance the market. OPEC agreed in Algeria on Sept. 28 to limit supply with special conditions given to Libya, Nigeria and Iran, whose output has been hit by wars and sanctions.

  • *Russia ready to support OPEC decision on output freeze. *OPEC sec-gen to meet Venezuelan president Wednesday. Russia said it was ready to support OPEC's decision on an output freeze and sees big chances that the oil producers' group can agree on the terms of the freeze by Nov. 30, Russian Energy Minister Alexander Novak said.

  • *Russia ready to support OPEC decision on output freeze. *OPEC sec-gen to meet Venezuelan president Wednesday. Russia said it was ready to support OPEC's decision on an output freeze and sees big chances that the oil producers' group can agree on the terms of the freeze by Nov. 30, Russian Energy Minister Alexander Novak said.