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  • OPEC unity tested by low prices, oil glut Thursday, 27 Nov 2014 | 4:17 AM ET

    VIENNA— OPEC oil ministers meeting in Vienna on Thursday are in a bind. OPEC powerhouse Saudi Arabia can weather such lower prices because its coffers are well-padded and its production costs are relatively low. But poorer OPEC members like Venezuela and Nigeria need levels close to $100 or above to fund national budgets.

  • Qatar oil minister says sees OPEC harmony, no crisis Thursday, 27 Nov 2014 | 4:14 AM ET

    VIENNA, Nov 27- Qatar Oil Minister Mohammed al-Sada said on Thursday that he sees harmony among OPEC members and does not see a crisis.

  • LONDON, Nov 27- Brent crude oil fell $2 to a four-year low under $76 a barrel as traders speculated that OPEC was unlikely to cut output to support prices at its Thursday meeting. Gulf producers Saudi Arabia, Kuwait, Qatar and the United Arab Emirates said they had reached a consensus on oil output policies. Some fund analysts have said that oil prices could slide to...

  • VIENNA, Nov 27- Gulf oil producers led by Saudi Arabia are expected to press the case on Thursday for not yet cutting OPEC output, despite calls from some members of the group to bolster sagging prices by removing surplus crude from the market. "OPEC is unlikely to cut today," one Gulf OPEC delegate told Reuters on Thursday, just hours before the meeting was due to begin.

  • Low expectations for oil output cut as OPEC meets Thursday, 27 Nov 2014 | 2:57 AM ET

    VIENNA, Nov 27- Gulf oil producers led by Saudi Arabia are expected to press the case on Thursday for not yet cutting OPEC output, despite calls from some members of the group to bolster sagging prices by removing surplus crude from the market. Three OPEC delegates separately told Reuters they believed OPEC was unlikely to take action after non-member Russia, the...

  • SINGAPORE, Nov 27- Brent crude fell to a four-year low under $76.30 a barrel on Thursday as it became increasingly unlikely that OPEC would cut output to support prices during a meeting in Austria. Gulf producers in the Organization of the Petroleum Exporting Countries- Saudi Arabia, Kuwait, Qatar and the United Arab Emirates- said on Wednesday they would not...

  • MOSCOW, Nov 27- The Russian rouble fell against the dollar and euro, and stock indexes were lower early on Thursday, following oil prices which have weakened before a key OPEC meeting in Vienna. Global oil benchmark Brent was down 1.5 percent at around $76.6 a barrel, as expectations mount that OPEC will not agree to cut production to shore up sliding oil prices at...

  • Oil prices near 4- year low as OPEC output cut hopes fade. TOKYO, Nov 27- Asian stocks hit a one-month high on Thursday as investors bet that more central bank stimulus in China and Europe would shore up the global economy, while oil prices tumbled to a four-year low as hopes for output cuts by OPEC faded. MSCI's broadest index of Asia-Pacific shares outside Japan...

  • SINGAPORE, Nov 27- Oil prices fell to four-year lows on Thursday as it appeared unlikely producer club OPEC would decide to cut output in support of prices at a meeting this week, and as increasing Chinese and U.S. stocks boosted available supplies. The Gulf producers within the Organization of the Petroleum Exporting Countries- Saudi Arabia, Kuwait, Qatar and the...

  • Oil prices fall as OPEC is unlikely to cut production Wednesday, 26 Nov 2014 | 9:18 PM ET

    SINGAPORE, Nov 27- Oil prices fell in early Asian trading on Thursday as it became unlikely that producer club OPEC would announce large output cuts during a meeting this week, and after Chinese and U.S. stocks increased. The Gulf producers within the Organization of the Petroleum Exporting Countries- Saudi Arabia, Kuwait, Qatar and the United Arab Emirates- said...

  • *Oil prices near 4- year low as OPEC output cut hopes fade. Oil prices tumbled more than one percent to a four-year low as hopes for curbs in output by the OPEC faded. MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.3 percent though Japan's Nikkei retreated 0.4 percent on the yen's rebound.

  • NYMEX-Oil falls for 4th day on fading hopes for OPEC cuts Wednesday, 26 Nov 2014 | 7:36 PM ET

    TOKYO, Nov 27- U.S. crude futures extended declines for a fourth session on Thursday to stay near a four-year low below $76 a barrel as OPEC increased signals that it would hold off making any major production cuts this week. *OPEC Gulf oil producers will not propose an output cut at its meeting on Thursday, reducing the likelihood of joint action by OPEC to prop up...

  • *Iran says some OPEC members want to battle for market share. VIENNA, Nov 26- OPEC Gulf oil producers will not propose an output cut on Thursday, reducing the likelihood of joint action by OPEC to prop up prices that have sunk by a third since June and raising the prospect of a global oil price war. "We are very confident that OPEC will have a unified position."

  • *OPEC very capable of taking unified position- Saudi Oil Minister. New York, Nov 26- Oil prices fell on Wednesday after OPEC increased signals that it would hold off making any major production cuts this week. OPEC Gulf oil producers have reached a consensus not to cut oil output when OPEC meets Thursday, a Gulf OPEC delegate told Reuters.

  • VIENNA, Nov 26- Gulf oil producers have reached. "The GCC reached a consensus," Naimi told reporters, referring to the Gulf Cooperation Council. Oil ministers from the Organization of the Petroleum Exporting Countries meet on Thursday in Vienna.

  • *OPEC should "monitor the market carefully"- Iran. New York, Nov 26- Oil prices were little changed on Wednesday after earlier tumbling to near four-year lows as traders grew increasingly convinced that OPEC would hold off making any major production cuts this week. Saudi Oil Minister Ali al-Naimi said he believed the oil market "will stabilize itself eventually,"...

  • PARIS, Nov 26- Some equity traders have been buying up' call' options on shares of oil majors ahead of Thursday's OPEC meeting, betting the cartel will spring a surprise cut in output to revive crude prices. The trade idea- which has very limited risk since it uses derivatives instead of buying shares- is a bet that sentiment towards the sector has become excessively...

  • CARACAS, Nov 26- Venezuela's PDVSA is prepared for tough times ahead in the international oil market, the new head of the state oil company said a day before OPEC meet to discuss their response to price falls. "He visited nearly half the world in a week and he got ahead of OPEC by proposing yesterday's meeting... putting forth the rational point of view Venezuela and...

  • OTTAWA, Nov 26- Canada's housing market is overvalued by as much as 20 percent but is likely to achieve a soft landing, the International Monetary Fund said on Wednesday. IMF official Hamid Faruqee said national home prices in Canada were between 5 percent and 20 percent higher than fundamentals suggest they should be. Faruqee noted that authorities might need...

  • *OPEC should "monitor the market carefully"- Iran. LONDON, Nov 26- Brent crude oil dropped towards $77 per barrel on Wednesday after comments by Iran's oil minister added weight to the view OPEC was unlikely to push for a major change in output. Oil ministers from the Organization of the Petroleum Exporting Countries meet on Thursday in Vienna.