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  • While OPEC may have been hibernating, the decision by Saudi Arabia, OPEC's leading member, to let oil prices crash was always a pragmatic one, not an ideological one. OPEC has sent stark reminder that when circumstances change, it can change too-- and it would be foolish to write off OPEC as irrelevant. Moreover, most other OPEC countries, as well non- OPEC ones like...

  • VIENNA, Dec 1- Russian President Vladmir Putin played a crucial role in helping OPEC rivals Iran and Saudi Arabia set aside differences to forge the cartel's first deal with non-OPEC Russia in 15 years. Interventions ahead of Wednesday's OPEC meeting came at key moments from Putin, Saudi Deputy Crown Prince Mohammed bin Salman and Iran's Supreme Leader...

  • LAUNCESTON, Australia, Dec 1- The trick with the OPEC agreement is not to view it as a cut to output, but rather as the partial removal of excess crude oil from the global market. This will likely be the case even if Russia and other non- OPEC producers make good on a commitment to cut production by a further 600,000 bpd. They earlier rose 10 percent, the largest one-day...

  • VIENNA, Nov 30- Below is a table showing oil output cuts agreed at a meeting of the Organization of the Petroleum Exporting Countries in Vienna on Wednesday. Cuts are from October production levels. Country Targeted Jan 2017 Cut in thousands of bpd.

  • The suspension could be a setback for Indonesia, OPEC's only East Asian member, which had hoped to benefit from being closer to OPEC countries when it reactivated its membership at the start of the year. OPEC had proposed Indonesia cut oil production by about 37,000 barrels per day, or about 5 percent of its output, which would dent the already slipping oil rent in...

  • Indonesia suspends OPEC- membership after recently rejoining. VIENNA, Dec 1- OPEC has agreed its first oil output cuts since 2008 after Saudi Arabia accepted "a big hit" on its production and dropped its demand on arch-rival Iran to slash output, pushing up crude prices by around 10 percent. "OPEC has proved to the sceptics that it is not dead.

  • LAUNCESTON, Australia, Dec 1- The trick with the OPEC agreement is not to view it as a cut to output, but rather as the partial removal of excess crude oil from the global market. This will likely be the case even if Russia and other non- OPEC producers make good on a commitment to cut production by a further 600,000 bpd. They earlier rose 10 percent, the largest one-day...

  • *Oil roars ahead on OPEC deal to cut output to 32.5 mln bpd. NEW YORK, Nov 30- Oil prices jumped around 9 percent on Wednesday as OPEC members sealed a deal to cut production, while upbeat U.S. economic data and comments from the U.S. "Everything seems to be coming together for more growth and risk appetite," said Larry Milstein, head of agency and government trading at R.W....

  • "Realistically, it is a little bit of month-end position squaring," said Bill Gentry a broker at Risk Management Commodities. Chicago Board of Trade January soybean futures settled down 10-1/ 4 cents at $10.32-1/ 4 a bushel. The U.S. Department of Agriculture on Wednesday morning said that private exporters reported the sale of 123,000 tonnes of soybeans for...

  • *FTSE 100 up 0.2 pct. *Energy sector biggest riser as oil soars on OPEC deal. On Wednesday, however, the FTSE's oil and gas index rose 4.1 percent after the price of oil shot up as members of OPEC, the oil producers' cartel, agreed to trim output for the first time since 2008 in a last-ditch bid to support prices.

  • "Realistically, it is a little bit of month end position squaring," said Bill Gentry a broker at Risk Management Commodities. At 10:55 a.m. CST, Chicago Board of Trade January soybean futures were down 9 cents at $10.33-1/ 2 a bushel. The U.S. Agriculture Department on Wednesday morning said that private exporters reported the sale of 123,000 tonnes of soybeans for...

  • All 14 members of the Organization of the Petroleum Exporting Countries agreed to cut output by about 1.2 million barrels per day.

  • VIENNA, Nov 30- Below is a table showing oil output cuts agreed at a meeting of the Organization of the Petroleum Exporting Countries in Vienna on Wednesday. Cuts are from October production levels. For the main story, click on.

  • *FTSE 100 up 0.1 pct. LONDON, Nov 30- Britain's top share index rose slightly on Wednesday, led by rebounding energy stocks as oil prices jumped after a deal to curb global oversupply, though banking stocks slipped after Royal Bank of Scotland failed a stress test. The FTSE's oil and gas index rose 4.1 percent after oil prices shot up more than 8 percent as some of the...

  • *Oil roars ahead on OPEC deal to cut output to 32.5 mln bpd. NEW YORK, Nov 30- Oil jumped on Wednesday as OPEC members clinched a deal to cut production, while upbeat U.S. economic data and comments from the U.S. "Everything seem to be coming together for more growth and risk appetite," said Larry Milstein, head of agency and government trading at R.W. Pressprich& Co. in New...

  • *OPEC agrees first output cut since 2008- source. *Saudi Arabia says ready to accept "big hit" on production. New York, Nov 30- Oil prices rose more than 7 percent on Wednesday as some of the world's largest oil producers agreed to curb oil output for the first time since 2008 in a last-ditch bid to support prices.

  • *OPEC agrees first output cut since 2008- source. *Saudi Arabia says ready to accept "big hit" on production. The Organization of the Petroleum Exporting Countries has agreed its first output limiting deal in eight years, an OPEC source told Reuters as the debates continued in Vienna on the exact size of each member's cuts.

  • VIENNA, Nov 30- Top oil exporter Saudi Arabia has agreed to cut its oil output to 10.06 million barrels per day under a new OPEC production-limiting deal, an OPEC source told Reuters. The country's output stood at 10.54 million bpd in October. The source also said OPEC, at a ministerial meeting in Vienna, had agreed to suspend Indonesia from the Organization of the...

  • *OPEC deal boosts inflation expectations. OPEC member Algeria was proposing to set a new production ceiling at 32.5 million barrels per day, down from current levels of 33.6 million. "I think most of the move this morning was related to the OPEC news, speculation about a production cut and the increase in oil prices and as a result inflation expectations as well,"...

  • *OPEC agrees first output cut since 2008- source. The Organization of the Petroleum Exporting Countries has agreed its first output limiting deal in eight years, an OPEC source told Reuters as the debates continued in Vienna on the exact size of each member's cuts. Key OPEC member Saudi Arabia said it was prepared to accept "a big hit" on its own production and agree...