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  • *OPEC discussing output cut of 1.4 mln bpd- source. *Iraq, Iran both say optimistic deal will be reached. LONDON, Nov 30- Oil prices jumped more than 8 percent on Wednesday to a five-week high as some of the world's largest oil producers gathered in Vienna to try to agree a production cut that could be bigger than expected.

  • *Oil prices jumped 8.4 percent after Saudi Arabia's energy minister said the OPEC and other producers, gathered in Vienna, were close to a deal. *Wall Street is on track for its best month since March, riding on a record rally that was sparked by Donald Trump's victory of the U.S. presidential election. *A U.S. Commerce Department report at 8:30 a.m. ET is likely to show...

  • *Oil prices jumped 8.4 percent after Saudi Arabia's energy minister said the OPEC and other producers, gathered in Vienna, were close to a deal. *Wall Street is on track for its best month since March, riding on a record rally that was sparked by Donald Trump's victory of the U.S. presidential election. *A U.S. Commerce Department report at 8:30 a.m. ET is likely to show...

  • HAMBURG/ SINGAPORE, Nov 30- Chicago soybean, wheat and corn futures rose on Wednesday, supported by a sudden surge in crude oil prices as several OPEC members signaled a possible deal to cut production. The Chicago Board of Trade's most active January soybean contract climbed 0.5 percent to $10.47-3/ 4 a bushel by 1117 GMT after closing down 1.2 percent in...

  • *Saudi Falih says OPEC close to reaching deal. *Iran says Russia would cut if OPEC reaches deal. 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. LONDON, Nov 30- Oil prices jumped more than 7 percent on Wednesday as some of the world's largest oil producers gathered in Vienna to agree on a production cut that could be bigger than expected. The Organization of the Petroleum Exporting Countries started a meeting at 0900 GMT on Wednesday at its Vienna...

  • *Oil soars amid signals of OPEC production cut. LONDON, Nov 30- Oil jumped more than 6 percent and the dollar, U.S. bond yields and stocks all pushed higher on Wednesday as signals from OPEC suggested the group was closing in on a deal to cut production. Combined with fresh concern about China's banking system, a stress test for British banks and a raft of euro zone data,...

  • *Saudi Falih says OPEC close to reaching deal. *Iran says Russia would cut if OPEC reaches deal. 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.

  • *FTSE 100 up 0.3 pct. LONDON, Nov 30- Britain's top share index rose on Wednesday, led by rebounding energy stocks as oil prices jumped on hopes of 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 2.8 percent after the price of oil shot up on a comment by an Iraqi delegate...

  • LONDON, Nov 30- European shares climbed to a three-week high on Wednesday, staying on track to end the month in positive territory, with energy stocks racing higher on expectations of a deal to cut crude oil production to tackle oversupply. The European oil and gas index rose 2 percent as oil prices surged more than 5 percent after an Iraqi delegate said that some...

  • *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.

  • NEW YORK/ HOUSTON, Nov 30- In a corner of the prolific Bakken shale play in North Dakota, oil companies can now pump crude at a price almost as low as that enjoyed by OPEC giants Iran and Iraq. The steep slide in costs could encourage more U.S. shale output if OPEC members cut supplies, undermining the producer group's ability to boost prices. OPEC ministers meet...

  • *Decision from OPEC meeting may move markets. LONDON, Nov 30- The dollar edged up on Wednesday as U.S. The dollar hit its highest level against a basket of major currencies for almost 14 years last week, after a boost from Donald Trump's shock U.S. election win that drove debt yields higher on expectations of more fiscal spending, higher inflation and a faster pace of...

  • *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...

  • Workers with Raven Drilling line up pipe while drilling for oil in the Bakken shale formation outside Watford City, North Dakota.

    In a corner of the prolific Bakken shale play in North Dakota, oil companies can now pump crude at a price almost as low as that enjoyed by OPEC giants Iran and Iraq.

  • *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.

  • *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..

  • *China stocks, commodities fall on liquidity fears. HONG KONG, Nov 30- Asian stocks tried to stabilise after a rocky November month drew to a close, but Wednesday's session brought new anxieties as Chinese equities and commodities tanked amid worries that Beijing's efforts to support its currency could squeeze liquidity. The decline in Chinese stocks weighed...

  • *Hong Kong rises on telecommunication shares, but gains capped. SHANGHAI, Nov 30- Hong Kong stocks edged up on Wednesday morning, taking their cue from Wall Street, but gains were capped as investors remained cautious ahead of an OPEC meeting and Italy's referendum result. Risk appetite in the Hong Kong market was curbed ahead of a meeting of the Organization of the...