World Economy International Organizations

  • *Oil company shares lift global stocks after OPEC deal. LONDON, Sept 29- An agreement by OPEC members to curb output boosted oil company shares on Thursday, lifted the currencies of crude-producing countries, and drove yields on low-risk government debt higher. "Everything you're seeing today is a response to the move in crude and the possible coordination...

  • *Iraq told OPEC meeting to change new ceiling- source. *Iraq's Luaibi complains about OPEC output estimates. ALGIERS, Sept 29- For years, debates in the OPEC conference room were dominated by clashes between top producer Saudi Arabia and arch-rival Iran.

  • *Commodity currencies benefit from OPEC output cut deal. LONDON, Sept 29- The dollar hit an eight-day high against the safe-haven yen on Thursday after an OPEC deal to cut oil output spurred a move into riskier assets, though questions over the efficacy of the agreement left the greenback off its earlier highs. The currencies of oil-exporting countries such as...

  • But the real question is whether this is the start of sustainable gains for the oil price, and much will depend on what OPEC actually does, and how the rest of the producers respond. Firstly, apart from the shock value of delivering an agreement, all OPEC actually did was kick the can down the road to their November meeting. OPEC is an organisation that has been riven by...

  • DUBAI, United Arab Emirates— OPEC nations have agreed in theory that they need to reduce their production to help boost global oil prices during a meeting in Algeria, but a major disagreement between regional rivals Saudi Arabia and Iran still may derail any cut. What happened to oil prices and why can't OPEC agree to anything more binding? That fall largely came...

  • *UK mortgage approvals lowest since Nov 2014- BoE. LONDON, Sept 29- British lenders approved the fewest mortgages in nearly two years last month as the housing market continued to slow after June's vote to leave the European Union, raising the chance of an outright fall in prices next year. However, other figures on Thursday suggest that for now consumers are...

  • *OPEC producers agree output targets for first time in 8 years. *OPEC output cut would do little to reduce oversupply- analysts. LONDON, Sept 29- Oil prices slipped on Thursday as investors questioned whether an OPEC agreement to curb production- the group's first such deal since 2008- would be enough to rebalance a heavily over-supplied market.

  • *Oil prices slip as investors question OPEC cuts. LONDON, Sept 29- Gold traded flat on Thursday, with earlier gains arrested by scepticism over whether OPEC members would be able to implement production cuts that could fuel inflation. "If OPEC ends up achieving its objective, it could significantly change the outlook for global inflation and the need to have a...

  • ALGIERS, Algeria— OPEC's unexpected understanding to trim production shows the cartel still has the resolve— and even desperation— to try to guide energy markets higher. Though limited, the decision came as something of a surprise— expectations were that once again the regional rivalry between Saudi Arabia and Iran would create a stalemate.

  • LONDON, Sept 29- Euro zone government bonds yields were broadly higher on Thursday, with Finland's 10- year yield moving out of negative territory, as a surprise decision by OPEC to trim crude oil output boosted both oil prices and risk appetite globally. While there was some caution as markets opened on Thursday as to how OPEC would implement such a plan, pushing...

  • HOUSTON, Sept 29- It was a moment U.S. shale oil producers have been waiting on for more than two years: OPEC nations finally agreed to cut production on Wednesday in a move that lifted low prices ravaging their budgets. U.S. benchmark crude rose more than 5 percent to $47 a barrel on the news, pending final details about the cut, which won't be known until after another...

  • *OPEC producers agree output targets for first time in 8 years. *OPEC output cut would do little to reduce oversupply- analysts. LONDON, Sept 29- Oil prices slipped on Thursday as investors questioned whether an OPEC agreement to curb oil production- the group's first such deal since 2008- would be enough to rebalance a heavily over-supplied world market.

  • OPEC reaches preliminary accord to curb oil production. OPEC nations reached a preliminary agreement to curb oil production for the first time since the global financial crisis eight years ago, in an effort to reduce a global glut of crude that has depressed oil prices for more than two years and weakened the economies of oil-producing nations.

  • *OPEC producers agree output targets for first time in 8 years. *OPEC output cut would do little to reduce oversupply- analysts. LONDON, Sept 29- Oil prices slipped on Thursday as investors questioned whether an OPEC agreement to curb oil production- the group's first such deal since 2008- would be enough to rebalance a heavily over-supplied world market.

  • *Oil company shares lift global stocks after OPEC deal. *India stocks, rupee fall on strikes on militants in Pakistan- controlled Kashmir. LONDON, Sept 29- An agreement by OPEC members to curb output boosted oil company shares on Thursday, lifted the currencies of crude-producing countries, and drove yields on low-risk government debt higher.

  • *Energy shares rally after OPEC deal. LONDON, Sept 29- European equities climbed higher on Thursday, with energy shares rallying after oil prices surged overnight following a deal by OPEC members to limit crude output. OPEC estimates its current output at 33.24 million bpd.

  • *OPEC deal can shock emerging markets accustomed to low prices. SINGAPORE/ SEOUL, Sept 29- Oil buyers from China to India remained cautious as they await details of OPEC's agreement to cut production for the first time since 2008 in order to reduce a global oversupply of crude. The group will decide how much each country will produce at the next formal OPEC meeting...

  • *FTSE 100 up 1.1 pct. LONDON, Sept 29- Britain's top share index rose near a 1-1/ 2 year high on Thursday, boosted by a rise in its heavyweight energy sector as a decision by OPEC to curb output for the first time since 2008 lifted oil prices. Energy stocks added 47 points to the FTSE 100, contributing more than half of its rise.

  • Sept 29- Hong Kong stocks followed Asian markets higher on Thursday as major energy firms jumped after a surge in oil prices triggered by a surprise agreement among OPEC members to curb output. Oil prices climbed nearly 6 percent on Wednesday after OPEC struck a deal to limit crude output, the organization's first agreement to cut production since 2008.

  • LONDON, Sept 29- Euro zone government bonds yields were broadly higher on Thursday, with Finland's 10- year yield moving out of negative territory, as a surprise decision by OPEC to trim crude oil output boosted both oil prices and risk appetite globally. While there was some caution as markets opened on Thursday as to how OPEC would implement such a plan, oil...