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Business United Arab Emirates

  • *Etihad mulls taking 30-40 pct stake in Lufthansa- Il Messaggero. MILAN, Jan 17- Germany's Lufthansa and Etihad Airways are in talks to possibly merge the two airlines, Italian newspaper Il Messaggero said in an unsourced report on Tuesday, boosting the German airline's share price. According to the paper, managers from both companies have for weeks been...

  • *Rising U.S. production seen offsetting OPEC cuts. LONDON, Jan 17- Oil prices rose on Tuesday, supported by a falling U.S. dollar and Saudi Arabia saying it would adhere to OPEC's commitment to cut output. Brent crude futures, the international benchmark for oil prices, were up 77 cents at $56.63 per barrel at 1020 GMT.

  • *Refinery outages hit crude demand just as OPEC cuts production. The higher Asian refining margins have beat back concerns that profits would fall as crude oil prices gained as the Organization of the Petroleum Exporting Countries and non- OPEC producers began to implement their agreed production cuts from January to reduce global oversupply.

  • Oil production cuts may usher in a new dawn for prices in 2017.

    Lack of investment in the oil industry has significantly heightened the risk of an oil price shock, according to the Crescent Petroleum CEO.

  • SINGAPORE, Jan 17- Oil prices were mixed on Tuesday, supported by Saudi Arabia saying it would adhere to a commitment to cut output, but held back by rising U.S. production and scepticism that OPEC as a whole would comply with its commitments to reduce supplies. Traders said markets were receiving some support from top crude exporter Saudi Arabia, which said it...

  • SINGAPORE, Jan 17- Oil prices were mixed on Tuesday, supported by Saudi Arabia saying it would adhere to a commitment to cut output, but held back by rising U.S. production and skepticism that OPEC as a whole would comply with its commitments to reduce supplies. Traders said markets were receiving some support from top crude exporter Saudi Arabia, which said it...

  • *Rising U.S. production seen offsetting OPEC cuts. SINGAPORE, Jan 17- Oil dipped on Tuesday on lingering concerns over global fuel oversupply due to rising U.S. output and doubts that OPEC and other producers would adhere to commitments to cut output in an effort to balance markets and prop up prices. Brent crude futures, the international benchmark for oil prices,...

  • SINGAPORE, Jan 17- Oil markets were mixed on Tuesday, supported by growth in U.S. crude production and Saudi Arabia saying it would strictly adhere to a commitment to cut output, but held back by scepticism in financial markets that oversupply would be curbed. West Texas Intermediate crude oil futures were trading up 2 cents at $52.39 per barrel at 0540 GMT.

  • SINGAPORE, Jan 17- Oil markets were mixed on Tuesday, supported by growth in U.S. crude production and Saudi Arabia saying it would strictly adhere to a commitment to cut output, but held back by skepticism in financial markets that oversupply would be curbed. West Texas Intermediate crude oil futures were trading up 2 cents at $52.39 per barrel at 0540 GMT.

  • SINGAPORE, Jan 17- Oil markets were mixed on Tuesday, supported by Saudi Arabia saying it would strictly adhere to a commitment to cut output, but held back by scepticism in financial markets that oversupply would be curbed. West Texas Intermediate crude oil futures were trading up 8 cents at $52.45 per barrel at 0231 GMT. Traders said markets were receiving some...

  • SINGAPORE, Jan 17- Oil markets were mixed on Tuesday, supported by Saudi Arabia saying it would strictly adhere to a commitment to cut output, but held back by skepticism in financial markets that oversupply would be curbed. West Texas Intermediate crude oil futures were trading up 8 cents at $52.45 per barrel at 0231 GMT. Traders said markets were receiving some...

  • SINGAPORE, Jan 17- Oil markets were mixed on Tuesday, supported by Saudi Arabia saying it would strictly adhere to a commitment to cut output, but held back by skepticism in financial markets about the outlook for crude prices. Traders said markets were receiving some support from top crude exporter Saudi Arabia, which said it would adhere strictly to its...

  • SINGAPORE, Jan 17- Oil markets were mixed on Tuesday, supported by Saudi Arabia saying it would strictly adhere to a commitment to cut output, but held back by scepticism in financial markets about the outlook for crude prices. Traders said markets were receiving some support from top crude exporter Saudi Arabia, which said it would adhere strictly to its...

  • SINGAPORE, Jan 17- Oil edged up on Tuesday after Saudi Arabia said it would strictly adhere to a commitment to cut output, but worries in financial markets about the outlook for crude supply dragged on prices. Traders said the slight increase in U.S. prices came after Saudi Arabia, the world's biggest exporter of crude oil, said it would adhere strictly to its...

  • CALGARY, Alberta, Jan 16- Oil prices settled up on Monday, as Saudi Arabia's commitments to reducing production offset a report forecasting U.S. output would again rise this year. Russia and other key exporters outside OPEC have said they will also cut output. Saudi Energy Minister Khalid al-Falih said on Monday the country will adhere strictly to its output...

  • The Organization of the Petroleum Exporting Countries has agreed to cut production by 1.2 million barrels per day to 32.5 million bpd from Jan. 1 in an attempt to clear a global oversupply that has depressed prices for more than two years. Russia and other key exporters outside OPEC have said they will also cut output. Saudi Arabia's Energy Minister Khalid...

  • ABU DHABI, Jan 16- Saudi Arabia will launch a renewable energy programme in coming weeks that is expected to involve investment of between $30 billion and $50 billion by 2023, Energy Minister Khalid al-Falih said on Monday. Falih, speaking at an energy industry event in Abu Dhabi, said Riyadh would start the first round of bidding within weeks for projects under...

  • ABU DHABI, Jan 16- Saudi Arabia will launch a renewable energy program in coming weeks that is expected to involve investment of between $30 billion and $50 billion by 2023, Energy Minister Khalid al-Falih said on Monday. Falih, speaking at an energy industry event in Abu Dhabi, said Riyadh would start the first round of bidding within weeks for projects under the...

  • *Earnings miss at Riyad Bank prompts slide by sector. Riyad Bank, the first major Saudi bank to report fourth-quarter earnings, posted a 66 percent fall in net profit to 293 million riyals, citing higher impairment charges for credit losses as well as lower operating income from fees and commissions. Analysts polled by Reuters had on average forecast Riyad Bank...

  • ABU DHABI, Jan 16- Saudi Arabia will adhere strictly to its commitment to cut output under the global agreement among oil producers, its energy minister said on Monday, expressing confidence that OPEC's plan to prop up prices would work. Saudi Energy Minister Khalid al-Falih, speaking at an industry event in Abu Dhabi, also said he was encouraged by signs of...