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  • Iran's oil minister said Tehran was ready to negotiate with Saudi Arabia and the Kremlin's oil tsar Igor Sechin proposed producing countries reduce output by 1 million barrels per day- without saying whether non- OPEC member Russia would cut. While traders and delegates from OPEC doubt any deal between the group and rival producers- which would be the first in...

  • *Iran says open to cooperation with Saudi Arabia. LONDON, Feb 10- Oil rose towards $31 a barrel on Wednesday after four days of declines, supported by the prospect of OPEC and rival producers cooperating to tackle a supply glut that has sent prices to a 12- year low. Iran's oil minister said Tehran was ready to negotiate with Saudi Arabia and the Kremlin's oil tsar...

  • *Iran says open to cooperation with Saudi Arabia. SINGAPORE, Feb 10- Crude oil prices pushed higher on Wednesday after Iran said it was open to cooperation with Saudi Arabia, partly recovering from an 8 percent fall in the previous session on concerns over demand and weak equities. Prices were supported by comments from Iran's oil minister that Tehran is ready to...

  • *Iran says open to cooperation with Saudi Arabia. SINGAPORE, Feb 10- Crude oil prices pushed higher on Wednesday after Iran said it was open to cooperation with Saudi Arabia, partly recovering from an 8 percent fall in the previous session led by concerns over demand and weak equities. Prices were supported by comments from Iran's oil minister that Tehran is ready...

  • *U.S. crude for March delivery was 47 cents higher at $28.41 a barrel by 0113 GMT. *The front-month Brent contract was 50 cents higher at $30.82 a barrel, after it had closed $2.56, or 7.8 percent, down on Tuesday. *Meanwhile, the International Energy Agency predicted the world will store unwanted oil for most of 2016 as declines in U.S. output take time and that OPEC is...

  • MUMBAI, Feb 9- Russia's top oil producer Rosneft is still carrying out due diligence to buy a stake in Essar Oil Ltd, the Indian group which runs India's second biggest private sector refinery said on Tuesday. Last week, Bloomberg reported that the company was in talks with Saudi Arabia's biggest oil company Saudi Aramco and National Iranian Oil Company to sell a...

  • No tangible signs emerged from a meeting on Sunday between Saudi Arabia's oil minister Ali al-Naimi and his Venezuelan counterpart that OPEC and non- OPEC suppliers were ready to meet to discuss the price slump. Hopes of an accord to shore up prices which are languishing close to 2003 have dimmed over the past week, but the meeting between cash-strapped...

  • DUBAI, Feb 8- Iran plans to turn itself into a major food exporter, hoping the lifting of sanctions will boost international trade and allow investment in the agricultural sector, an official in Iran's state grain buying agency said. Foreign business delegations have flocked to Tehran since the United States, European Union and United Nations lifted...

  • No tangible signs emerged from a meeting on Sunday between Saudi Arabia's oil minister Ali al-Naimi and his Venezuelan counterpart that OPEC and non- OPEC suppliers were ready to meet to discuss the price slump. After a flurry of diplomacy over the last two weeks about a possible production cut roiled oil markets, Sunday's meeting between cash-strapped...

  • Brent futures fell 68 cents to $33.38 a barrel, a 2 percent loss, by 10:36 a.m. EST, paring a fall of as much as 3.3 percent earlier in the session. "With the possibility of a production cutting deal quickly fading into the sunset, market participants are once again left to focus on the reality of the oversupplied global market," Energy Management Institute analyst...

  • UPDATE 5-Oil prices slide, supply overhang in focus Monday, 8 Feb 2016 | 7:19 AM ET

    *Focus shifting to Fed testimony, IEA, EIA and OPEC data. *Iran says European buyers agreed to lift its crude. Global benchmark Brent futures were down 68 cents at $33.38 at 1212 GMT, while U.S. crude futures lost 81 cents to $30.08.

  • *Focus shifting to Fed testimony, IEA, EIA and OPEC data. LONDON, Feb 8- Crude oil prices eased in thin trade on Monday as a meeting between OPEC producers Saudi Arabia and Venezuela showed little indication that steps would be taken to boost prices. Saudi Arabia's oil minister Ali al-Naimi discussed cooperation between members of the Organization of the...

  • Iran: Dollars no good here, but euros are Sunday, 7 Feb 2016 | 11:19 AM ET
    Iranian workers walk at a unit of South Pars Gas field in Asalouyeh Seaport, north of Persian Gulf, Iran November 19, 2015.

    Iran wants to recover tens of billions of dollars it is owed by India and other buyers of its oil in euros.

  • Syria: Foreign aggressors will go home 'in coffins' Saturday, 6 Feb 2016 | 9:00 AM ET
    Syrians walk on debris of collapsed buildings after the war-crafts belonging to the Russian army carried out airstrikes on the opposition-controlled neighborhoods in Aleppo, Syria on December 11, 2015.

    Syria will resist any incursion and send the aggressors home "in coffins," its foreign minister said, in comments aimed at Sunni Arab countries.

  • OTTAWA, Feb 5- Canada said it was lifting some sanctions against Iran, including a ban on financial services, imports and exports, thereby allowing companies such as plane maker Bombardier Inc to compete against rivals. Dion said last week that if Airbus can to sell to Iran, then Bombardier should be allowed to export there as well. "Canada continues to have serious...

  • *Iran billing new oil contracts in euros- NIOC source. NEW DELHI, Feb 5- Iran wants to recover tens of billions of dollars it is owed by India and other buyers of its oil in euros and is billing new crude sales in euros, too, looking to reduce its dependence on the U.S. dollar following last month's sanctions relief. A source at state-owned National Iranian Oil Co told...

  • CALGARY, Alberta, Feb 4- Canada will not rush to lift sanctions against Iran, despite calls to scrap the measures quickly so Canadian companies can compete for contracts, Prime Minister Justin Trudeau said on Thursday. The United States, the European Union and other major nations have already lifted some of their punitive measures following a deal struck last...

  • *Iran says it supports meeting between OPEC, other producers. *Venezuela oilmin meets with counterparts in Qatar, Oman. NEW YORK, Feb 4- Oil fell 2 percent in volatile trading on Thursday, as support from a weakening dollar was overshadowed by scepticism that cash-strapped OPEC member Venezuela's effort to lobby crude producers for joint output cuts would...

  • *Iran says it supports meeting between OPEC, other producers. NEW YORK, Feb 4- Oil prices were volatile on Thursday, reversing earlier gains as scepticism that cash-strapped OPEC member Venezuela's effort to lobby crude producers for output cuts would succeed offset a weakening dollar. Venezuelan Oil Minister Eulogio del Pino said he had a "good and productive"...

  • *Iran says it supports meeting between OPEC, other producers. Crude added to the previous session's 7 percent jump after an Iranian official was quoted as saying Tehran supported a meeting between OPEC and other oil producers. "Headlines continue to fly about an OPEC/ non- OPEC meeting.