Business Algeria

  • DUBAI, Oct 27- Tough negotiations await a group of OPEC experts as they meet their counterparts from other oil producers such as Russia on Oct. 28-29 to hammer out details of an output-capping agreement, with disagreements threatening to scupper the deal. OPEC agreed in Algeria last month on a modest oil-production cut in the first such pact since 2008, with the...

  • *OPEC squabbles about potential cut drag on markets. LONDON, Oct 26- Oil fell for a third day on Wednesday, nearing $50 a barrel for the first time in three weeks, as investors grew increasingly doubtful that OPEC members will agree to cut output and as U.S. inventories staged a surprisingly large increase. Iraq, the second-largest member of OPEC, does not want to join...

  • LONDON, Oct 25- OPEC's output accord in Algiers last month was initially greeted with enthusiasm by oil market bulls but much of that euphoria is now dissipating as traders question whether it will make an actual difference. For many oil market veterans, the agreement showed OPEC was back in business after being dormant for several years. "Saudi Arabia has...

  • LONDON, Oct 25- OPEC's output accord in Algiers last month was initially greeted with enthusiasm by oil market bulls but much of that euphoria is now dissipating as traders question whether it will make an actual difference. For many oil market veterans, the agreement showed OPEC was back in business after being dormant for several years. "Saudi Arabia has...

  • LONDON, Oct 25- OPEC's output accord in Algiers last month was initially greeted with enthusiasm by oil market bulls but much of that euphoria is now dissipating as traders question whether it will make an actual difference. For many oil market veterans, the agreement showed OPEC was back in business after being dormant for several years. "Saudi Arabia has...

  • LONDON, Oct 25- OPEC's output accord in Algiers last month was initially greeted with enthusiasm by oil market bulls but much of that euphoria is now dissipating as traders question whether it will make an actual difference. For many oil market veterans, the agreement showed OPEC was back in business after being dormant for several years. "Saudi Arabia has...

  • LONDON, Oct 25- OPEC's output accord in Algiers last month was initially greeted with enthusiasm by oil market bulls but much of that euphoria is now dissipating as traders question whether it will make an actual difference. For many oil market veterans, the agreement showed OPEC was back in business after being dormant for several years. "Saudi Arabia has...

  • LONDON, Oct 25- The chance of an agreement to freeze or cut crude output when OPEC members meet next month might appear more distant now Iraq has joined those asking for an exemption, but investors are ramping up their bets that oil prices will rally. Since the decision at a meeting in Algiers on Sept. 28, at which OPEC said it would seek to cut output to output to a range...

  • *Russia, OPEC talk cooperation to stabilise oil market. VIENNA, Oct 24- Energy ministers from Russia and Qatar along with OPEC's secretary general discussed possible joint action to stabilise the oil market, Russian Energy Minister Alexander Novak said ahead of OPEC's meeting next month aiming to cement a deal agreed in Algiers. Russia is the world's largest...

  • *Russia, OPEC talk cooperation to stabilise oil market. Russia is the world's largest oil producer but not a member of the Organization of the Petroleum Exporting Countries and its budget has been hit by low oil prices, the same as for many OPEC nations. Last month in Algiers, OPEC agreed modest output cuts that are due to be set in stone in coming weeks.

  • VIENNA, Oct 24- It is essential that OPEC and non- OPEC countries address overcapacities in the oil market, the cartel's secretary general said before a meeting on Monday with Russia's energy minister aimed at discussing coordination of output. Russia is a crucial partner in addressing energy challenges and both sides are committed to stable oil markets, OPEC...

  • LONDON, Oct 21- OPEC's agreement on an new production target has been followed by a bout of renewed optimism about the rebalancing of the oil market. "Fundamentals are improving and the market is rebalancing," Saudi Arabia's energy minister told a conference in London on Oct. 19. "The recent OPEC accord in Algiers was designed to further reinforce the already...

  • DOHA, Oct 23- The king of Saudi Arabia, the world's largest oil exporter, met Venezuela's president on Sunday in Riyadh and discussed ways to stabilise global oil prices, state news SPA reported. Novak, who is in Saudi Arabia on his first official visit as minister, earlier met the energy ministers of the Gulf Cooperation Council which included key Gulf OPEC...

  • BAGHDAD, Oct 23- Iraq should be exempt from OPEC crude output restrictions as it needs the income to fight the war on Islamic State, Oil Minister Jabar Ali al-Luaibi said on Sunday. "We are fighting a vicious war," Luaibi said in a briefing for reporters in Baghdad, adding that Iraq, OPEC's second-largest producer, should get the same exemption as Nigeria and Libya.

  • 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.

  • RIYADH, Oct 23- 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 in Riyadh as part of efforts to cooperate with non- OPEC members to stabilise the oil market. "Russia is one of the world's biggest oil producers... and is one of the influential parties in the...

  • BAKU/ DUBAI, Oct 22- Venezuelan President Nicolas Maduro was quoted on Saturday as saying that OPEC and non- OPEC nations were "very close" to an agreement on oil production curbs, Azerbaijan's state news agency Azertag reported. "Today with President Ilham Aliyev we talked about reaching agreements between OPEC and countries that are not members of the cartel.

  • BAKU, Oct 22- Venezuelan President Nicolas Maduro was quoted on Saturday as saying that OPEC and non- OPEC nations were "very close" to an agreement on oil production curbs, Azerbaijan's state news agency Azertag reported. "Today with President Ilham Aliyev we talked about reaching agreements between OPEC and countries that are not members of the cartel.

  • VERONA, Italy, Oct 20- Russia, already the world's top oil producer, has the potential to further increase oil output in the future by up to 200 million tonnes a year, or 4 million barrels per day, Rosneft's chief executive Igor Sechin said on Thursday. Russia and OPEC are seeking a way to cooperate to prop up oil prices, hit by global oversupply. But consensus must first...

  • CARACAS, Oct 19- Venezuelan President Nicolas Maduro will visit OPEC and non- OPEC countries in coming days to push a deal to stabilize oil markets and will also travel to key financier China, as the cash-strapped nation seeks to ease a steep recession. "I'm going to make a lightning visit, lightning but also deep, to several oil-producing countries, OPEC and non- OPEC,...