International Organizations OPEC

  • *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.

  • Most Asian markets closed up on Thursday after an oil rally, but India shares dropped after reports of conflict in the disputed region of Kashmir.

  • 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...

  • *Commodity currencies benefit from OPEC output cut deal. LONDON, Sept 29- The dollar rose 1 percent against the safe-haven yen on Thursday to hit an eight-day high as investors moved into riskier assets following an OPEC deal to cut oil output. The currencies of oil-exporting countries such as Canada and Norway surged after the deal late on Wednesday, but were all...

  • *Focus shifts to U.S., Europe economic data. The Organization of Petroleum Exporting Countries on Wednesday agreed modest oil output cuts in the first such deal since 2008, with the group's leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure from low crude prices. "Once again struggled to find direction in low volumes, with...

  • LONDON, Sept 29- European shares climbed higher in early trading on Thursday, with energy shares rallying after oil prices surged overnight after OPEC struck a deal to limit crude output. The Organization of the Petroleum Exporting Countries reached an agreement in Algiers to cut production to a range of 32.5-33.0 million barrels per day.

  • LONDON, Sept 29- European shares climbed higher in early trading on Thursday, with energy shares rallying after oil prices surged overnight after OPEC struck a deal to limit crude output. The Organization of the Petroleum Exporting Countries reached an agreement in Algiers to cut production to a range of 32.5-33.0 million barrels per day.

  • SINGAPORE, Sept 29- Oil futures retreated on Thursday as the market grew more sceptical on how OPEC would implement a plan to curb oil output a day after the group agreed to limit production. OPEC said each member's output cuts will be decided at its next formal meeting in November, when an invitation to join the deal could also be extended to other producers such as...

  • Market reacton to OPEC deal is not rational: CIO

    Markus Stadlmann, CIO of Lloyds Private Banking, says oil prices are not going to move much to the upside, despite the OPEC deal to cut production.

  • HONG KONG— Energy companies led a global stock market rally Thursday as investors welcomed news that OPEC nations planned to cut oil production for the first time in eight years in an effort to reduce a global glut. CRUDE CUT: Shares of energy companies surged after OPEC members struck a preliminary deal to curb output at a meeting in Algeria.

  • TOKYO, Sept 29- Japan's Nikkei share average rose more than 1 percent on Thursday as investors cheered a weakening yen and rallying oil prices after OPEC's surprise deal to trim crude output. The Nikkei stock index ended up 1.4 percent, or 228.31 points, at 16,693.71. The dollar and the euro each soared about 0.9 percent against the Japanese currency.

  • Sept 29- Goldman Sachs said the deal reached by OPEC crude producers on Wednesday to curb output should add $7 to $10 to oil prices in the first half of next year. Members of the Organization of the Petroleum Exporting Countries agreed on Wednesday to modest oil output cuts in the first such deal since 2008, with group leader Saudi Arabia softening its stance on...

  • HONG KONG, Sept 29- Oil shares pulled regional stock markets higher on Thursday after OPEC members agreed to curb output in a surprise deal, though investors were wary of chasing markets higher as the U.S. presidential election neared. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.9 percent by mid-morning, thanks to a bounce in energy...

  • OPEC agrees to first oil production cut since 2008

    OPEC members meeting in Algiers agreed to cut oil production to between 32.5 and 33 million barrels a day, a reduction of around 700,000 barrels.

  • *Energy stocks jump on higher oil prices after surprise OPEC deal. SHANGHAI, Sept 29- Hong Kong and China shares rose on Thursday, with sentiment lifted by a jump in energy stocks as oil prices surged after OPEC members agreed to curb output in a surprise deal. An index tracking Hong Kong's energy sector jumped 5 percent, as Chinese oil giants CNOOC, PetroChina and...

  • SINGAPORE, Sept 29- Oil futures retreated on Thursday as the market grew more sceptical on how OPEC would implement a plan to curb oil output a day after the group agreed to limit production. OPEC said each member's output cuts will be decided at its next formal meeting in November, when an invitation to join the deal could also be extended to other producers such as...

  • SINGAPORE/ SEOUL, Sept 29- Asian crude oil buyers remained cautious, eyeing details of an OPEC deal after the oil-producers group agreed for the first time since 2008 to reduce output in an oversupplied market. However, how much each country will produce is to be decided at the next formal OPEC meeting in November, when an invitation to join cuts could also be...

  • *Focus shifts to U.S., Europe economic data. Fed officials have weakened their credibility and the market has stopped buying their comments, "said Jiang Shu, chief analyst at Shandong Gold Group. "For now, we can see gold move in the band of $1,300 to $1,350."