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International Organizations OPEC

  • Spot gold was down 0.4 percent at $1,168.60 an ounce earlier. 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. "Gold has been sensitive to the U.S. monetary policy and dollar movements," said Mark To, head of research at Hong Kong's Wing...

  • *Higher oil prices power dollar above 114 yen, lifting shares. TOKYO, Dec 1- A weaker yen helped power Japan's Nikkei share average to 11- month highs on Thursday, while many energy shares made strong gains after OPEC agreed to cut crude output for the first time since 2008 in order to boost oil prices. The Organization of the Petroleum Exporting Countries, which...

  • *OPEC agrees 1st cut since 2008; Russia also to join. SINGAPORE, Dec 1- Oil shot up over 10 percent after producer club OPEC and Russia cut a deal to reduce output to drain a global supply glut, but analysts warned prices could recede as other producers stand ready to fill the gap. An additional cut of 0.6 million bpd from non- OPEC countries could significantly add to...

  • *OPEC agrees on first output cut since 2008. TOKYO, Dec 1- Oil prices, and energy shares swept higher on Thursday after OPEC agreed to cut crude output to clear a glut, while the dollar and bond yields rose sharply on prospects that resulting inflationary pressures will lead to higher interest rates. The Organization of the Petroleum Exporting Countries on...

  • Not a lot of further upside for oil prices: Economist

    OPEC compliance issues may limit a big increase in oil prices, says AMP Capital Investors' Shane Oliver.

  • *OPEC agrees 1st cut since 2008; Russia also to join. SINGAPORE, Dec 1- Oil shot up over 10 percent after producer club OPEC and Russia cut a deal to reduce output to drain a global supply glut, but analysts warned prices could recede this month, while other producers stand ready to fill the gap in the longer term. An additional cut of 0.6 million bpd from non- OPEC...

  • When it comes to OPEC, proof is in the pudding: Expert

    OPEC spent the past year jawboning so the output cut might just bring production back to original levels, says Stephen Schork, editor of The Schork Report.

  • 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...