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  • *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...

  • Oil prices rose 7 percent to a near five-week high of $49.65. A source told Reuters that delegates were debating a bigger-than-expected cut in production at a meeting in Vienna. Wall Street is on track for its best month since March, riding on a record rally that was sparked by Donald Trump's victory in the U.S. presidential election.

  • *Oil soars amid signals of OPEC production cut. LONDON, Nov 30- Oil jumped more than 8 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,...

  • *Expectations of OPEC deal drive U.S. yields higher. LONDON, Nov 30- The dollar edged up on Wednesday as a surge in oil prices encouraged expectations of rises in inflation and U.S. The dominant factor on Wednesday was widespread anticipation of a deal that would curb OPEC oil output that sent crude prices 7 percent higher in morning trade in London.

  • *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...