Business News Algeria

  • ALGIERS, July 15- Algeria's government has suspended the head of grains agency OAIC over corruption allegations, sources close to the prime minister's office said, creating uncertainty for traders who supply one of the world's biggest cereal importers. French supplies usually account for the majority of Algeria's wheat imports, making the North African...

  • *Competition from Black Sea region has curbed French exports. PARIS, July 11- Three of France's largest agricultural groups have formed a grain export joint venture in an attempt to improve their competitiveness in overseas markets increasingly dominated by Black Sea producers like Russia and Ukraine. Cooperative groups InVivo, Axereal and NatUp have...

  • LONDON, July 3- Chicago corn futures rose for a second session on Wednesday with prices underpinned by concerns over late-planted crops in the U.S. The most-active corn contract on the Chicago Board of Trade was up 0.9% at $4.30 a bushel by 1145 GMT, having gained 0.8% in the previous session. The U.S. Department of Agriculture on Monday pegged the condition of the...

  • *Corn up after sliding since Friday's USDA acreage estimate. CHICAGO, July 2- Chicago corn futures closed higher for the first time in five sessions on Tuesday on technical buying and lower-than-expected condition ratings for developing U.S. crops, analysts said. Chicago Board of Trade September corn futures settled up 3-1/ 2 cents at $4.19 a bushel, rallying...

  • *Iraq says OPEC set for roll over, may discuss deeper curb. *Investors await G20, OPEC meeting. NEW YORK, June 27- Oil prices edged higher on Thursday on expectations that OPEC will extend an output cut agreement, while investors awaited a meeting between the United States and China that could produce a breakthrough on trade talks.

  • *Iraq says OPEC set for rollover, may discuss deeper curb. NEW YORK, June 27- Oil prices edged lower on Thursday, pressured by worries about whether the G20 summit will produce a breakthrough on trade that could strengthen the global economy and boost oil demand. Brent crude futures fell 18 cents, or 0.3%, to $66.31 a barrel by 11:30 a.m. EDT.

  • *Iraq says OPEC set for rollover, may discuss deeper curb. LONDON, June 27- Oil fell below $66 a barrel on Thursday, weighed down by concerns over whether the G20 summit will produce a breakthrough on trade and perceptions that supply is ample despite prospects for continued OPEC curbs. Brent crude, the global benchmark, was down 56 cents at $65.93 by 1215 GMT.

  • LONDON, June 27- OPEC is expected to roll over a deal on cutting supplies at a meeting next week and discuss deepening the curbs that have been in place since Jan. 1, Iraq's oil minister on Thursday. A deal between the Organization of Petroleum Exporting Countries and allies including Russia to curb output by 1.2 million barrels runs out at the end of June.

  • *OPEC exempt producers cut more oil than rest of group. LONDON, June 26- Oil output in Iran and Venezuela, under U.S. sanctions, has fallen by more than that of other OPEC members party to a supply cut pact, suggesting President Trump's policies have had a greater impact on oil production than OPEC itself. The actual cut is more than 2.5 million bpd, according to OPEC...

  • GENEVA/ LONDON, June 20- For the world's biggest oil traders, it feels like a return to the 1980 s when earnings were diluted by an abundance of crude. A raft of high-profile U.S. probes into trading activities are also shaking up the business, echoing the transformation that followed the 1983 U.S. indictment of Marc Rich, the godfather of global oil trading.

  • GENEVA/ LONDON, June 20- For the world's biggest oil traders, it feels like a return to the 1980 s when earnings were diluted by an abundance of crude. A raft of high-profile U.S. probes into trading activities are also shaking up the business, echoing the transformation that followed the 1983 U.S. indictment of Marc Rich, the godfather of global oil trading.

  • GENEVA/ LONDON, June 20- For the world's biggest oil traders, it feels like a return to the 1980 s when earnings were diluted by an abundance of crude. A raft of high-profile U.S. probes into trading activities are also shaking up the business, echoing the transformation that followed the 1983 U.S. indictment of Marc Rich, the godfather of global oil trading.

  • BRUSSELS, June 17- Protectionism across the globe reached a record high last year due to new barriers designed to restrict trade into China and the United States, according to a report by the European Commission published on Monday. China and Russia had the most "problematic" trade measures overall, with 37 and 34 respectively, the report said.

  • TOKYO, June 13- Oil prices rose on Thursday, recouping some of the losses from sharp declines in the previous session, when crude fell as much as 4% on continued increases in U.S. crude stockpiles and concerns about lower demand growth. Brent crude futures were up 75 cents, or 1.3%, at $60.72 a barrel by 0606 GMT. West Texas Intermediate crude futures were up 32 cents, or...

  • TOKYO, June 13- Oil prices fell for a second day on Thursday, extending declines of as much as 4% in the previous session, on continued increases in U.S. crude stockpiles and concerns about lower demand growth. Brent crude futures were down 6 cents, or 0.1%, at $59.91 a barrel by 0336 GMT after earlier rising slightly. West Texas Intermediate crude futures were down 8...

  • *Trump has a' feeling' that U.S., China can strike trade deal. *Algeria floats idea of larger OPEC+ cut- sources. "Its definitely a market that is still in some disbelief of these inventory builds, and they're not going to be able to look beyond it," said Phil Flynn, analyst at Price Futures Group in Chicago.

  • An oil pumpjack operates near Williston, North Dakota.

    Oil prices fell for a second day on Thursday, extending declines of as much as 4% in the previous session, on continued increases in U.S. crude stockpiles and concerns about lower demand growth.

  • *Trump has a' feeling' that U.S., China can strike trade deal. *Algeria floats idea of larger OPEC+ cut- sources. "Its definitely a market that is still in some disbelief of these inventory builds, and they're not going to be able to look beyond it," said Phil Flynn, analyst at Price Futures Group in Chicago.

  • ALGERIA FLOATS IDEA OF OPEC+ SUPPLY CUT OF 1.8 MLN BPD IN SECOND HALF OF 2019, UP FROM 1.2 MLN BPD NOW- OPEC SOURCES.

  • LONDON, June 4- Iran has told OPEC that it opposes delaying the oil producer group's next meeting, setting the scene for another fight with fellow members as U.S. sanctions put Tehran under unprecedented economic pressure with its oil exports down to just a trickle. OPEC gatherings are often fraught due to acrimony between Iran and its arch-rival Saudi Arabia,...