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International Organizations OPEC

  • NEW YORK, Dec 1- U.S. President-elect Donald Trump's policies would fuel higher inflation. Brent crude prices built on Wednesday's gains with a more than 3 percent jump a day after OPEC and Russia agreed to restrict output.

  • While OPEC may have been hibernating, the decision by Saudi Arabia, OPEC's leading member, to let oil prices crash was always a pragmatic one, not an ideological one. OPEC has sent stark reminder that when circumstances change, it can change too-- and it would be foolish to write off OPEC as irrelevant. Moreover, most other OPEC countries, as well non- OPEC ones like...

  • While OPEC may have been hibernating, the decision by Saudi Arabia, OPEC's leading member, to let oil prices crash was always a pragmatic one, not an ideological one. OPEC has sent stark reminder that when circumstances change, it can change too-- and it would be foolish to write off OPEC as irrelevant. Moreover, most other OPEC countries, as well non- OPEC ones like...

  • While OPEC may have been hibernating, the decision by Saudi Arabia, OPEC's leading member, to let oil prices crash was always a pragmatic one, not an ideological one. OPEC has sent stark reminder that when circumstances change, it can change too-- and it would be foolish to write off OPEC as irrelevant. Moreover, most other OPEC countries, as well non- OPEC ones like...

  • While OPEC may have been hibernating, the decision by Saudi Arabia, OPEC's leading member, to let oil prices crash was always a pragmatic one, not an ideological one. OPEC has sent stark reminder that when circumstances change, it can change too-- and it would be foolish to write off OPEC as irrelevant. Moreover, most other OPEC countries, as well non- OPEC ones like...

  • While OPEC may have been hibernating, the decision by Saudi Arabia, OPEC's leading member, to let oil prices crash was always a pragmatic one, not an ideological one. OPEC has sent stark reminder that when circumstances change, it can change too-- and it would be foolish to write off OPEC as irrelevant. Moreover, most other OPEC countries, as well non- OPEC ones like...

  • While OPEC may have been hibernating, the decision by Saudi Arabia, OPEC's leading member, to let oil prices crash was always a pragmatic one, not an ideological one. OPEC has sent stark reminder that when circumstances change, it can change too-- and it would be foolish to write off OPEC as irrelevant. Moreover, most other OPEC countries, as well non- OPEC ones like...

  • Continental Resources CEO on OPEC deal

    Harold Hamm, Continental Resources founder, weighs in on how he wasn't surprised about the OPEC deal to cut production and thinks it "needed to happen" and will be "good long term" for consumers and producers.

  • TORONTO, Dec 1- Canada's main stock index rose on Thursday as energy shares made further gains with oil prices after OPEC reached a deal to cut output, while investors reacted to divergent earnings reports from two major banks. The energy group climbed 3 percent, adding to a nearly 8 percent jump on Wednesday after OPEC members and Russia agreed to limit their oil...

  • BRATISLAVA, Dec 1- Oil markets are entering a period of greater volatility after OPEC's decision to cut output, International Energy Agency chief Fatih Birol said on Thursday. "Unlike in the past OPEC decisions, if prices move to around $60, a substantial amount of oil in United states is ready to come to the markets," Birol said. So therefore the upward push on prices...

  • While OPEC may have been hibernating, the decision by Saudi Arabia, OPEC's leading member, to let oil prices crash was always a pragmatic one, not an ideological one. OPEC has sent stark reminder that when circumstances change, it can change too-- and it would be foolish to write off OPEC as irrelevant. Moreover, most other OPEC countries, as well non- OPEC ones like...

  • While OPEC may have been hibernating, the decision by Saudi Arabia, OPEC's leading member, to let oil prices crash was always a pragmatic one, not an ideological one. OPEC has sent stark reminder that when circumstances change, it can change too-- and it would be foolish to write off OPEC as irrelevant. Moreover, most other OPEC countries, as well non- OPEC ones like...

  • While OPEC may have been hibernating, the decision by Saudi Arabia, OPEC's leading member, to let oil prices crash was always a pragmatic one, not an ideological one. OPEC has sent stark reminder that when circumstances change, it can change too-- and it would be foolish to write off OPEC as irrelevant. Moreover, most other OPEC countries, as well non- OPEC ones like...

  • VIENNA, Dec 1- Russian President Vladmir Putin played a crucial role in helping OPEC rivals Iran and Saudi Arabia set aside differences to forge the cartel's first deal with non-OPEC Russia in 15 years. Interventions ahead of Wednesday's OPEC meeting came at key moments from Putin, Saudi Deputy Crown Prince Mohammed bin Salman and Iran's Supreme Leader...

  • *Canadian dollar at C $1.3366, or 74.82 U.S. cents. The Organization of the Petroleum Exporting Countries reached the agreement on Wednesday after de-facto leader Saudi Arabia accepted "a big hit" and dropped a demand that archrival Iran also slash production. At 9:19 a.m. EST, the Canadian dollar was trading at C $1.3366 to the greenback, or 74.82 U.S. cents,...

  • TORONTO, Dec 1- Canada's main stock index rose on Thursday, led by a more than 2 percent gain for the energy group as oil extended its rally on an OPEC deal to cut output. The Toronto Stock Exchange's S&P/TSX composite index was up 38.91 points, or 0.26 percent, at 15,121.76, shortly after the open. Five of the index's 10 main groups were higher.

  • *OPEC deal could have modest positive impact on state finances. DUBAI, Dec 1- Petrochemicals companies led Gulf stock markets higher on Thursday in response to OPEC's first agreement on output cuts to prop up oil prices since 2008-- a deal that could allow governments to ease austerity policies slightly. Saudi Arabia is to take the lion's share of cuts, lowering...

  • LONDON, Dec 1- OPEC has reached an agreement to cut its oil output by almost 1.2 million barrels per day and been rewarded with an increase in nearby futures prices of around $5 per barrel. Saudi Arabia is likely to provide around half of the real cuts, and its Gulf allies most of the rest, with a high degree of expected non-compliance by other OPEC and non- OPEC...

  • *UK factories grappling with strong cost pressures- PMI. Thursday's Markit/CIPS UK Manufacturing Purchasing Managers' Index also suggested the weak pound failed to boost exports by as much as in previous months. Wednesday's 10 percent surge in crude oil prices- after OPEC and Russia agreed to restrict production- pushed the dollar cost of oil close to levels...

  • Burkhard: OPEC deal tips the scales toward deficit

    James Burkhard, IHS Markit chief of research for global crude oil markets, discusses the oil market after OPEC announced a production deal.