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  • *Dubai outperforms as it catches up with region. DUBAI, Dec 4- Most stock markets in the Gulf rose on Sunday as investors cheered a rally in crude oil prices, while foreign buyers continued to support Egypt's index. But a string of positive events over the last several weeks- principally the government's $17.5 billion international bond sale, its promise to settle...

  • Dec 1- Shamoon, the destructive computer virus that four years ago crippled tens of thousands of computers at Middle Eastern energy companies, was used two weeks ago to attack computers in Saudi Arabia, according to several U.S. cyber security firms. Victims included the General Authority of Civil Aviation, the Saudi agency that runs airports, where the attack...

  • Dec 1- A version of Shamoon, the destructive computer virus that four years ago crippled tens of thousands of computers at Middle Eastern energy companies, was used two weeks ago to attack computers in Saudi Arabia, according to U.S. security firms. Saudi Arabia confirmed on Thursday that hackers had launched a virus attack on computers in government bodies and...

  • 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.

  • VIENNA— Breaking with years of inaction, OPEC agreed Wednesday to cut its oil output for the first time since 2008. The reduction of 1.2 million barrels a day is significant, leaving OPEC's daily output at 32.5 million barrels. And OPEC President Mohammed Bin Saleh Al-Sada said non- OPEC nations are expected to pare an additional 600,000 barrels a day off their...

  • LONDON, Nov 23- OPEC officials are struggling to reach a final agreement on how to share out production cuts implied by the preliminary output accord agreed by ministers in September. In theory, all OPEC members would benefit in absolute terms if an output cut produced even a modest and sustained rise in oil prices, so there are strong financial incentives for a...

  • LONDON, Nov 23- OPEC officials are struggling to reach a final agreement on how to share out production cuts implied by the preliminary output accord agreed by ministers in September. In theory, all OPEC members would benefit in absolute terms if an output cut produced even a modest and sustained rise in oil prices, so there are strong financial incentives for a...

  • *OPEC members propose Iran cap output at 3.92 mln bpd. OPEC member countries have proposed Iran cap its oil output at 3.92 million barrels per day under a production-limiting deal for the whole group, a source familiar with the proposal has told Reuters. While Iran has not yet responded to the proposal, it suggests OPEC members may be coming nearer to a consensus on...

  • DOHA, Nov 18- OPEC is moving closer towards finalising this month its first deal since 2008 to limit oil output, with most members prepared to offer Iran significant flexibility on production volumes, ministers and sources said on Friday. On Friday, several OPEC oil ministers including Saudi Arabia's Khalid al-Falih met in Doha on the sidelines of a gas forum.

  • *OPEC members propose Iran cap output at 3.92 mln bpd. OPEC member countries have proposed Iran cap its oil output at 3.92 million barrels per day under a production-limiting deal for the whole group, a source familiar with the proposal has told Reuters. While Iran has not yet responded to the proposal, it means OPEC members may be coming nearer to a consensus on how...

  • *Saudi energy minister urges OPEC to cut output ahead of meeting. *Key oil exporters meet in Doha Friday to discuss potential deal. SEOUL, Nov 18- Oil prices fell on Friday as a strengthening U.S. dollar beat back renewed hope that OPEC might finally agree production cuts.

  • *Saudi energy minister urges OPEC to cut output ahead of meeting. *Key oil exporters meet in Doha Friday to discuss potential deal. SEOUL, Nov 18- Oil prices fell in early trading on Friday as the strengthening U.S. dollar snuffed out rekindled hopes that OPEC might agree production cuts.

  • *Saudi energy minister urges OPEC to cut output ahead of meeting. *Iran overtakes Saudi Arabia as India's top oil supplier. SEOUL, Nov 18- Oil prices fell in early trading on Friday as the strengthening U.S. dollar snuffed out rekindled hopes that OPEC might agree production cuts.

  • *Saudi minister optimistic on final OPEC deal. RIYADH/ DOHA, Nov 17- The energy minister for top OPEC exporter Saudi Arabia said on Thursday he was optimistic about OPEC's deal to limit oil output and mentioned the lower end of a previously agreed production target, helping spur a rally in the price of crude. OPEC agreed on Sept. 28 to limit supply to between 32.5...

  • RIYADH, Nov 17- Saudi Energy Minister Khalid al-Falih said on Thursday that OPEC should cut oil output to 32.5 million barrels per day, the lower end of a previously agreed range, to balance the market. OPEC agreed in Algeria on Sept. 28 to limit supply with special conditions given to Libya, Nigeria and Iran, whose output has been hit by wars and sanctions.

  • *OPEC ready for "forceful" deal to cut output- Maduro. *But markets oversupplied as OPEC production surges. LONDON, Nov 17- Oil prices steadied on Thursday as expectations of an OPEC deal to limit production were balanced by growing evidence of heavy oversupply and rising stocks, particularly in the United States.

  • *OPEC signals inching closer to agreement, but scepticism remains. Crude inventories in the United States rose by 5.3 million barrels in the week to Nov. 11, compared with expectations for an increase of 1.5 million barrels. U.S. benchmark WTI crude was down 25 cents, or 0.5 percent, at $45.34 a barrel at 0750 GMT.

  • *OPEC signals inching closer to output freeze agreement. Crude inventories in the United States rose by 5.3 million barrels in the week to Nov. 11, compared with expectations for an increase of 1.5 million barrels. U.S. benchmark WTI crude was down 10 cents, or 0.22 percent, at $45.47 a barrel at 0555 GMT.

  • *OPEC signals inching closer to output freeze agreement. Crude inventories in the United States rose by 5.3 million barrels in the week to Nov. 11, compared with expectations for an increase of 1.5 million barrels. U.S. benchmark WTI crude was down 11 cents, or 0.24 percent, at $45.46 a barrel at 0040 GMT.

  • *Russia ready to support OPEC decision on output freeze. *OPEC sec-gen to meet Venezuelan president Wednesday. Russia said it was ready to support OPEC's decision on an output freeze and sees big chances that the oil producers' group can agree on the terms of the freeze by Nov. 30, Russian Energy Minister Alexander Novak said.