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International Organizations OPEC

  • Indonesia suspends OPEC- membership after recently rejoining. VIENNA, Dec 1- OPEC has agreed its first oil output cuts since 2008 after Saudi Arabia accepted "a big hit" on its production and dropped its demand on arch-rival Iran to slash output, pushing up crude prices by around 10 percent. "OPEC has proved to the sceptics that it is not dead.

  • The logo of OPEC is pictured at the OPEC headquarters on the eve of the 171th meeting of the Organization of the Petroleum Exporting Countries in Vienna, on November 29, 2016.

    OPEC on Wednesday agreed to its first oil output limits in eight years, triggering an oil rally, but market watchers were asking whether members will cheat.

  • *Spot gold was mostly unchanged at $1,172.24 an ounce by 0046 GMT. *The U.S. dollar was broadly firm, hitting 9-1/ 2 month highs against the yen as oil prices surged after OPEC agreed to output cuts- lifting inflation expectations and U.S. bond yields. *With the U.S. economy making good progress toward full employment and inflation heading toward the Fed's 2- percent...

  • LAUNCESTON, Australia, Dec 1- The trick with the OPEC agreement is not to view it as a cut to output, but rather as the partial removal of excess crude oil from the global market. This will likely be the case even if Russia and other non- OPEC producers make good on a commitment to cut production by a further 600,000 bpd. They earlier rose 10 percent, the largest one-day...

  • *Euro capped by concerns on Italy's referendum. TOKYO, Dec 1- The U.S. dollar was broadly firm, hitting 9 1/ 2- month highs against the yen as oil prices surged after OPEC agreed to output cuts- lifting inflation expectations and U.S. bond yields. The dollar's rebound came as oil prices jumped around 9 percent on Wednesday as OPEC members agreed to cut production, its...

  • *OPEC agrees on first output cut since 2008. TOKYO, Dec 1- Crude prices, the dollar and bond yields were sharply elevated early on Thursday after OPEC agreed to a deal to reduce output to clear a supply glut that has crunched oil prices and stoked global deflationary pressures. Non-OPEC Russia will also join output reductions for the first time in 15 years to help...

  • OPEC has reached a turning point: Investor

    Sean Taylor, CIO at Deutsche AM, discusses Russia's participation in an OPEC output curb and how this will impact Asian markets.

  • Jim Cramer on the set of Mad Money

    Jim Cramer revealed why President-elect Donald Trump’s economic plan won’t be yuge for some stocks.

  • It's been a tough year for OPEC economies

    Low oil prices have hit OPEC economies particularly hard in the past year but the latest output cut could bring some relief.

  • Gary Heminger, CEO, Marathon Petroleum

    Jim Cramer spoke with Gary Heminger, who says the supply of crude could be in balance shortly.

  • Oil producers now more price sensitive: Expert

    Oil producers, like Saudi Arabia, used to fight for market share but are becoming more price sensitive, says Craig McMahon at Wood Mackenzie.

  • Khalid Al-Falih, Saudi Arabia's energy and industry minister, speaks to a member of his delegation ahead of the 171st Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria, on Wednesday, Nov. 30, 2016.

    Jim Cramer says smart money just got played.

  • **U.S. crude for January delivery falls nearly 1 percent to as low as $48.98 a barrel on profit-taking early on Thursday in Asia, after hitting its highest level since Oct. 27 on Wednesday following a move by OPEC to cut output. **OPEC agreed on Wednesday its first oil output cuts since 2008 after Saudi Arabia accepted "a big hit" on its production and dropped its demand on...

  • OPEC agrees on an output cut, finally

    OPEC's production cut of 1.2 million barrels per day saw Saudi Arabia doing much of the heavy lifting.

  • Mohammed al-Sada, the energy minister for Qatar, and current president of OPEC, said key non- OPEC members had agreed to cuts of 600,000 bpd, of which Russia had committed to 300,000 bpd. OPEC will meet its non-cartel counterparts to discuss their contribution to the effort to limit output on Dec. 9. "While the inclusion of non- OPEC producers makes this a bigger...

  • OPEC seals the deal but what about implementation?

    It remains to be seen whether OPEC's output cut will be actually implemented, says ClipperData's Matt Smith.

  • *OPEC agreement also lifts bond yields. Energy shares jumped with oil prices after OPEC agreed to cut production. Bank shares also rose after comments by Steven Mnuchin, President-elect Donald Trump's pick for U.S.

  • *Oil roars ahead on OPEC deal to cut output to 32.5 mln bpd. NEW YORK, Nov 30- Oil prices jumped around 9 percent on Wednesday as OPEC members sealed a deal to cut production, while upbeat U.S. economic data and comments from the U.S. "Everything seems to be coming together for more growth and risk appetite," said Larry Milstein, head of agency and government trading at R.W....

  • TORONTO, Nov 30- A surge in shares of Canadian energy companies pushed the country's main stock index to a near 18- month intraday high on Wednesday as major crude producers reached a deal to curb production. The energy group, which accounts for one-fifth of the Toronto Stock Exchange's S&P/TSX composite index, jumped 7.9 percent as crude prices soared.

  • *OPEC agreement also lifts bond yields. Energy shares jumped with oil prices after OPEC agreed to cut production. Bank shares also jumped after comments by Steven Mnuchin, President-elect Donald Trump's pick for U.S.