Business

OPEC Oil Cut, if it Comes, More Face-Saver Than Meaningful – Analysts

Nov 28 – Oil futures jumped on Monday after heavy falls in the previous session, reflecting volatility as OPEC officials try to salvage a deal to cut crude production ahead of a long-anticipated formal meeting of the group’s ministers on Wednesday. The 14-member Organization of the Petroleum Exporting Countries announced a preliminary deal in September

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OPEC Makes Last-Ditch Bid to Save Oil Deal as Tensions Grow

By Rania El Gamal and Alex Lawler VIENNA, Nov 28  – OPEC was trying on Monday to rescue a deal to limit oil output as tensions grew among the producer group and non-OPEC member Russia, with top exporter Saudi Arabia saying markets would rebalance even without an agreement. A gathering of OPEC experts failed to

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Iran Backtracks on Russian Fighter Purchase Reports – News Agencies

DUBAI, Nov 26  – Iran’s Defence Ministry said it plans to modernise the air force fleet but denied reports earlier on Saturday that it wanted to buy Russian Sukhoi Su-30 fighter planes, news agencies reported. Several agencies quoted Defence Minister Hossein Dehghan as saying “the purchase of this fighter is on the agenda of the

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Iran Optimistic on OPEC Deal, to Give View on Curbs at Meeting

DUBAI, Nov 26 – Iran is optimistic OPEC can reach a deal on limiting oil supplies and plans to announce its own decision about any output curbs at the group’s meeting next week, Iranian Oil Minister Bijan Zanganeh said on the ministry’s official website SHANA. “The proposal of Algerian Energy Minister (Nouredine Bouterfa) on the

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Shell CEO Expects no Valuation Hit From Climate Accord

AMSTERDAM, Nov 26 – Royal Dutch Shell expects to pump out all the fossil fuel reserves listed on its balance sheet, its chief executive said, dismissing concerns that production limits in the wake of the Paris climate accord could hit the energy giant’s valuation. In an interview with Dutch newspaper Het Financieele Dagblad, Ben van

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Economic Reforms Weigh on Kuwait’s Parliamentary Election

By Ahmed Hagagy KUWAIT, Nov 24 – Kuwaitis vote on Saturday for a new parliament the government hopes will help push through reforms to a lavish welfare state to curb a budget deficit caused by weak oil prices. Nearly 300 candidates are vying for 50 seats in an assembly that has legislative powers but which

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Markets See Possible Turkish Rate Rise in Defiance of Erdogan

By David Dolan and Nevzat Devranoglu ISTANBUL/ANKARA, Nov 24 – Turkey’s central bank could raise interest rates for the first time in nearly three years on Thursday to prop up a stumbling lira currency, a move that would defy President Tayyip Erdogan’s relentless drive for cheaper credit. Twelve of 19 economists polled by Reuters expect

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