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  • *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.

  • COLUMN-OPEC's other problem: weak demand - John Kemp Wednesday, 26 Nov 2014 | 10:45 AM ET

    LONDON, Nov 26- By now, everyone is aware of the serious threat rising shale output from the United States poses to OPEC. Net growth of 4.8 million b/d over nine years is slower than OPEC and other forecasters expected a few years ago. OPEC has confronted this problem before in the early 1980 s, when consuming countries took unprecedented steps to reduce demand in...

  • UPDATE 6-Oil drops towards $77 as market doubts OPEC cut Wednesday, 26 Nov 2014 | 9:36 AM ET

    *OPEC should "monitor the market carefully"- Iran. LONDON, Nov 26- Brent crude oil dropped towards $77 per barrel on Wednesday after Iran signalled OPEC was unlikely to push for a major change in oil output despite a collapse in prices. Iranian Oil Minister Bijan Zangeneh said that OPEC members should "monitor the market carefully", a comment traders understood to...

  • UPDATE 3-Saudi, UAE signal no push for OPEC oil cut Wednesday, 26 Nov 2014 | 8:53 AM ET

    *Iran says some OPEC members want to battle for market share. *UAE, Iran say non- OPEC should participate in any cut. Saudi Oil Minister Ali al-Naimi said he expected the oil market "to stabilise itself eventually" after talks with non- OPEC member Russia on Tuesday yielded no pledge from Moscow to tackle a global oil glut jointly.

  • GENEVA, Nov 26- The World Trade Organization postponed adoption of the first global trade reform in its 19- year history on Wednesday, delaying by a day after a last-minute objection from Argentina, diplomats said. It cut back its ambitions to ensure unanimous backing for a small package of trade reforms at a meeting in Bali last December, but a new government in...

  • VIENNA, Nov 26- Core Gulf oil producer United Arab Emirates sided with OPEC leader Saudi Arabia on Wednesday by saying the group should not panic as oil prices would soon stabilise, while ramping up pressure on non- OPEC producers to help balance global supply. OPEC leader Saudi Arabia signalled on Wednesday it was unlikely to push for a major change in oil output...

  • MOSCOW, Nov 26- The rouble fell for a second day on Wednesday on fading hopes that OPEC will agree to cut oil output and as foreign-currency sales dried up after exporters finished paying a major tax to the state budget. "A reduction in expectations that OPEC will cut production has been added to this," Deev said. Russia is not an OPEC member.

  • 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...