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  • UPDATE 1-Russia says will keep oil output steady in 2015 Wednesday, 26 Nov 2014 | 6:48 AM ET

    Russia, which is not an OPEC member, has watched nervously as oil prices have fallen 30 percent since June and analysts say Moscow had hoped to convince other members and non-members to support a production cut at an OPEC meeting on Thursday. After talks between Saudi Arabia, fellow OPEC member Venezuela and oil power Mexico ended without an agreement on Tuesday,...

  • 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...

  • STRASBOURG, France, Nov 26- The European Commission presented a plan on Wednesday for some 300 billion euros of largely private new investment in the European Union, saying it was time to kick-start growth without adding to public debt. "Europe needs a kick-start and today the Commission is applying the jump leads," Commission President Jean-Claude Juncker, a...

  • 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...

  • 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...

  • STRASBOURG, France, Nov 26- European Commission President Jean-Claude Juncker presented a plan on Wednesday to leverage some 300 billion euros of largely private new investment in the European Union, saying it was time to kick-start growth without adding to public debt. "Europe needs a kick-start and today the Commission is applying the jump leads," said...

  • 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...

  • 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.

  • *But hopes for OPEC production cut support prices. SINGAPORE, Nov 26- Oil prices dropped early on Wednesday as Asia's top economies showed signs of weakness, but hopes for output cuts by producer club OPEC curbed losses. In South Korea, a top state-run research institute warned the Bank of Korea against underestimating the danger of Asia's fourth-largest...

  • 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 0.3 percent.