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  • TRIPOLI, Nov 26- Libya's rival government wants to send its oil minister to the OPEC summit in Vienna this week and will refuse to comply with any production decisions if it is denied access, the minister said. Libya has two cabinets and parliaments vying for legitimacy since a rival group took control of Tripoli in August, installing its own prime minister and...

  • VIENNA, Nov 26- OPEC leader Saudi Arabia signaled on Wednesday it was unlikely to push for a major change in oil output at the producer group's meeting this week, a day after Russia refused to cooperate in any production cut. Iranian Oil Minister Bijan Zangeneh said some OPEC members, although not Iran itself, were gearing up for a battle over market share and...

  • UPDATE 4-Oil steadies below $79 as market doubts OPEC cut Wednesday, 26 Nov 2014 | 5:16 AM ET

    *OPEC needs to show unity in face of oversupply- Iran. LONDON, Nov 26- Brent crude oil steadied below $79 a barrel on Wednesday after Saudi Arabia signalled it was unlikely to push for a major change in OPEC oil output despite a collapse in prices. Oil prices have dropped by a third since June and some OPEC members have called for the cartel to reduce production sharply...

  • TRIPOLI, Nov 26- Libya's rival government wants to send its oil minister to the OPEC summit in Vienna this week and will refuse to comply with any production decisions if it is denied access, the minister said. Libya has two cabinets and parliaments vying for legitimacy since a rival group took control of Tripoli in August, installing its own prime minister and...

  • LIBYA'S RIVAL OIL MINISTER PLANS TO ATTEND OPEC MEETING, HIS GOVT WILL NOT COMPLY WITH DECISIONS IF DENIED INVITATION.

  • VIENNA, Nov 26- OPEC leader Saudi Arabia signalled on Wednesday it was unlikely to push for a major change in oil output at the producer group's meeting this week, a day after Russia refused to cooperate in any production cut. Iranian Oil Minister Bijan Zangeneh said some OPEC members, although not Iran itself, were gearing up for a battle over market share and...

  • *Crude oil stabilises before Thursday's OPEC summit. TOKYO, Nov 26- European shares pushed higher on Wednesday, bolstered by the prospect of more stimulus from the European Central Bank and as upbeat U.S. economic growth data calmed investor anxiety over a deteriorating global outlook. The pan-European FTSEurofirst index of leading blue-chip companies has...

  • UPDATE 3-Oil slips towards $78 as market doubts OPEC cut Wednesday, 26 Nov 2014 | 4:08 AM ET

    *OPEC needs to show unity in face of oversupply- Iran. LONDON, Nov 26- Brent crude oil fell towards $78 a barrel on Wednesday after Saudi Arabia's oil minister said the oil market "will stabilise itself eventually", ahead of a key OPEC meeting to discuss production in response to falling oil prices. Oil prices have dropped roughly 30 percent since June and predictions...

  • Saudi's Naimi sees oil market "stabilising itself" Wednesday, 26 Nov 2014 | 3:58 AM ET

    VIENNA, Nov 26- OPEC leader Saudi Arabia signalled on Wednesday it was unlikely to push for a major change in oil output at the producer group's meeting this week, a day after Russia refused to cooperate in any production cut and threatened to unleash an oil price war. But as the meeting with Naimi and officials from Venezuela and non- OPEC member Mexico ended on...

  • VIENNA, Nov 26- Iranian Oil Minister Bijan Zangeneh said on Wednesday some OPEC members, but not Iran itself, believed it was time to defend market share in the face of growing supplies from non- OPEC nations. Oil ministers from the Organization of the Petroleum Exporting Countries meet on Thursday in Vienna. Impromptu talks between Saudi Arabia, fellow OPEC...

  • MOSCOW, Nov 26- The Russian rouble fell for a second day on Wednesday, as oil prices slipped before a meeting of the OPEC oil producers' club to discuss weak prices. Russia is not a member of OPEC. Russia sees an average oil price of around $80- 90 per barrel in the medium- and possibly in the long-term, Finance Minister Anton Siluanov said on Wednesday.

  • Iran oil min says non-OPEC should join any output cut Wednesday, 26 Nov 2014 | 3:34 AM ET

    VIENNA, Nov 26- Iranian Oil Minister Bijan Zangeneh said on Wednesday OPEC needs to show unity in the face of growing oversupply in oil markets and added that non- OPEC members also should participate in any output cuts. Oil ministers from the Organization of the Petroleum Exporting Countries meet on Thursday in Vienna. Impromptu talks between Saudi Arabia,...

  • *Prices fell in early trading as Asia's biggest economies weaken. Ali al-Naimi's comment that he believed oil "will stabilise itself eventually" supported crude against pressure from signs of weakness in Asia's top four economies. Impromptu talks between Saudi Arabia, fellow OPEC member Venezuela and oil powers Russia and Mexico yielded no agreement on...

  • Saudi's Naimi says oil market will stabilise eventually Wednesday, 26 Nov 2014 | 2:46 AM ET

    VIENNA, Nov 26- Saudi Arabian Oil Minister Ali al-Naimi told reporters on Wednesday that he believed the oil market "will stabilise itself eventually". Oil ministers from the Organization of the Petroleum Exporting Countries meet on Thursday in Vienna. Impromptu talks between Saudi Arabia, fellow OPEC member Venezuela and oil powers Russia and Mexico yielded...

  • OPEC meeting: Will oil production be cut?     Wednesday, 26 Nov 2014 | 2:20 AM ET

    Ahead of the OPEC meeting in Vienna, Charles Whall, portfolio manager at Investec Asset Management, says that the cartel does not need to cut oil production by a lot to see a rise in revenues.

  • SINGAPORE, Nov 26- Brent crude steadied around $78.40 a barrel on Wednesday ahead of talks by producer group OPEC, but prices fell earlier in the session as Asia's top four economies showed signs of weakness. Traders said talks of a potential output cut ahead of the meeting of the Organization of Petroleum Exporting Countries were helping prices, but added that...

  • *Crude oil extends losses ahead of Thursday's OPEC summit. Oil prices were also under pressure as major oil producing nations failed to agree on curbs to output ahead of an OPEC meeting on Thursday. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.4 percent.

  • Oil needs to be at $100 per barrel to be at a "fair price", Venezuelan foreign minister Rafael Ramirez told CNBC, as OPEC members decide whether to cut production.

  • OPEC members taking 'wait & see' approach     Tuesday, 25 Nov 2014 | 10:31 PM ET

    Matt Smith, Commodity Analyst at Schneider Electric, explains why Saudi Arabia is so reluctant to reduce output and warns that investors shouldn't expect too much progress from the meeting.

  • Commodity deflation to hurt these economies     Tuesday, 25 Nov 2014 | 10:12 PM ET

    Tony Nash, Vice President at Delta Economics, says commodity deflation in countries like Germany and China is worrying.