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  • *Russia agreed to reduce oil output by 300,000 bpd. Russia as well as other non- OPEC and OPEC producers have agreed to slash output by almost 1.8 million bpd to fight global oversupply, which has hammered the price of oil, the chief commodity export for Moscow and some other developing countries. This is the first such deal between the Organization of the Petroleum...

  • *OPEC, non- OPEC crude oil supply- http://tmsnrt.rs/2gnobWD. LAUNCESTON, Australia, Dec 12- The global crude oil market is starting to resemble a gigantic game of chess, with a bold opening gambit by OPEC and its allies giving them an advantage, but the game is still far from checkmate. The first OPEC and non- OPEC deal since 2001 will see Russia, the world's top producer,...

  • The cut was short of an initial target of 600,000 bpd but still the first OPEC/ non- OPEC output deal since 2001 and the largest contribution by non- OPEC producers ever. "Despite the smaller-than-preannounced cut, the agreement is nonetheless noteworthy as it lifts the uncertainty on the potential participation of non- OPEC producers to the OPEC cut," the bank said...

  • *OPEC, non- OPEC crude oil supply- http://tmsnrt.rs/2gnobWD. LAUNCESTON, Australia, Dec 12- The global crude oil market is starting to resemble a gigantic game of chess, with a bold opening gambit by OPEC and its allies giving them an advantage, but the game is still far from checkmate. The first OPEC and non- OPEC deal since 2001 will see Russia, the world's top producer,...

  • A oil truck runs past wind turbines at the Dafancheng Wind Power Plant.

    OPEC has persuaded 11 non-members to cut oil production, a move aimed at draining a worldwide oil glut.

  • *Saudis to shoulder largest cuts for OPEC. VIENNA, Dec 10- OPEC and non- OPEC producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices that overstretched many budgets and spurred unrest in some countries. The fact that Nigeria and Libya were exempt from the deal due to...

  • *Saudis to shoulder largest cuts for OPEC. VIENNA, Dec 10- OPEC and non- OPEC producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices that overstretched many budgets and spurred unrest in some countries. The fact that Nigeria and Libya were exempt from the deal due to...

  • *Saudis to shoulder largest cuts for OPEC. VIENNA, Dec 10- OPEC and non- OPEC producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices that overstretched many budgets and spurred unrest in some countries. The fact that Nigeria and Libya were exempt from the deal due to...

  • *Venezuela says Mexico to contribute to non- OPEC cuts. VIENNA, Dec 10- Russia and Saudi Arabia said they expect OPEC and non- OPEC producers to reach an agreement on Saturday to curtail oil output and prop up prices in the first such joint move since 2001.. Russian Energy Minister Alexander Novak, speaking as he joined a breakfast with OPEC and non- OPEC ministers in...

  • VIENNA, Dec 10- Russia and Saudi Arabia said they expect OPEC and non- OPEC producers to reach an agreement on Saturday to curtail oil output and prop up prices in the first such joint move since 2001.. Russian Energy Minister Alexander Novak, speaking as he joined a breakfast with OPEC and non- OPEC ministers in Vienna, said: "I don't see such risks.

  • *OPEC to meet non- OPEC countries in Vienna in Saturday. OPEC will meet non- OPEC producing countries in Vienna on Saturday, hoping non- OPEC will commit to cutting 600,000 barrels per day after its own members agreed to cut 1.2 million bpd last week. OPEC sources said nine non- OPEC countries were set to join the meeting: Azerbaijan, Kazakhstan, Oman, Mexico, Russia, Sudan,...

  • NEW YORK, Dec 9- Oil prices rose about 1 percent on Friday on hopes that non- OPEC producers meeting in Vienna over the weekend would agree to output restrictions following limits OPEC announced last week to curb an oil glut. On Saturday, OPEC oil ministers will meet non- OPEC producers in Vienna to seek help in curbing a global glut. Russia plans to hold more talks on...

  • *Canadian dollar ends at C $1.3180, or 75.87 U.S. cents. *Loonie touches its strongest since Oct. 20 at C $1.3153. "Oil and stops has CAD higher," said Greg Anderson, global head of foreign exchange strategy at BMO Capital Markets.

  • VIENNA, Dec 9- Saudi Arabia's energy minister Khalid al-Falih said on Friday he was "very optimistic" about a meeting between OPEC and non- OPEC producing countries in Vienna on Saturday.

  • *OPEC to meet non- OPEC countries in Vienna in Saturday. OPEC will meet non- OPEC producing countries in Vienna on Saturday, hoping non- OPEC will commit to cutting 600,000 barrels per day after its own members agreed to cut 1.2 million bpd last week. OPEC sources said nine non- OPEC countries were set to join the meeting: Azerbaijan, Kazakhstan, Oman, Mexico, Russia, Sudan,...

  • *Russia energy minister says no oil talks with OPEC on Friday. NEW YORK, Dec 9- Oil prices rose about 1 percent on Friday on hopes that non- OPEC producers meeting in Vienna over the weekend would agree to output restrictions to go along with the limits OPEC announced last week to curb a glut of oil. On Saturday, OPEC oil ministers will meet non- OPEC producers in Vienna to...

  • *Russia energy min says no oil talks with OPEC on Friday night. NEW YORK, Dec 9- Oil prices rose about 1 percent on Friday, trading within a narrow range, on hopes that non- OPEC producers meeting in Vienna over the weekend would agree to cut output to bolster the group's own agreement to limit production. On Saturday, OPEC oil ministers will meet non- OPEC producers in...

  • *OPEC to meet non- OPEC countries in Vienna in Saturday. OPEC will meet non- OPEC producing countries in Vienna on Saturday, hoping non- OPEC will commit to cutting 600,000 barrels per day after its own members agreed to cut 1.2 million bpd last week. OPEC sources said nine non- OPEC countries were set to join the meeting: Azerbaijan, Kazakhstan, Oman, Mexico, Russia, Sudan,...

  • RIG-OL-USA- BHI> Since crude prices briefly recovered from 13- year lows to around $50 a barrel in May, drillers have added a total of 182 oil rigs in 25 of the past 28 weeks, its biggest recovery since a global oil glut crushed the market over two years. The Baker Hughes oil rig count plunged from a record 1,609 in October 2014 to a six-year low of 316 in May as U.S. crude...

  • The Baker Hughes oil rig count plunged from a record 1,609 in October 2014 to a six-year low of 316 in May as U.S. crude collapsed from over $107 a barrel in June 2014 to near $26 in February 2016. U.S. crude futures were trading around $51 a barrel on Friday on optimism that non- OPEC producers meeting in Vienna over the weekend would agree to cut output to bolster the...