Saturday 3 December 2016
 
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Algiers

Opec agrees oil output cuts in first deal since 2008

Opec agreed on Wednesday modest oil output cuts in the first such deal since 2008, with the group's leader Saudi Arabia softening its stance on Iran amid mounting pressure from low oil prices. "Opec made an exceptional de

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Saudis soften oil stance; Opec deal likely in Nov

Opec might still agree an oil output-limiting deal later this year after failing to do so in Algeria this week as the group's de-facto leader Saudi Arabia softens its stance towards Iran. Saudi Energy Minister Khalid al-Falih

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Opec set for no deal as Iran rejects Saudi oil output offer

Iran rejected on Tuesday an offer from Saudi Arabia to limit its oil output in exchange for Riyadh cutting supply, dashing market hopes the two major Opec producers would find a compromise this week to help ease a global glut of crude.

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Oil prices slip as hopes for a deal in Algiers fade

Crude futures fell further on Tuesday as optimism faded for an output-limiting deal during an oil producer meeting in Algeria that so far has failed to yield any agreement to curb one of the worst supply gluts in history. Saudi Ar

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Algiers talks are consultative says Al-Falih

Saudi Arabia's Energy Minister Khalid Al-Falih said on Tuesday that talks among Opec and non-Opec oil producers in Algiers this week are consultative, casting doubt on the chances of any policy decision during the meeting. He

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Iran downplays chances of oil deal

Iran downplayed on Monday the chances of Opec and non-Opec oil producers clinching an output-restraint deal in Algeria this week even though several other members of the group hoped for steps to tackle a price-eroding glut of crude.

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UAE backs output freeze to support oil markets

The United Arab Emirates said on Monday it would back a global freeze in oil output to bolster prices, while some Opec delegates predicted a meeting of producing countries in Algeria this week could still yield a deal to restrain supply.

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Ecuador warns Opec of risks if no deal in Algeria

Ecuadorean President Rafael Correa said on Saturday he hopes Opec countries will reach an agreement to stabilize the oil market at the upcoming meeting in Algeria, warning of "serious risks" for the group if they do reach a deal.

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Ecuador warns Opec of risks if no deal in Algeria

Ecuadorean President Rafael Correa said on Saturday he hopes Opec countries will reach an agreement to stabilize the oil market at the upcoming meeting in Algeria, warning of "serious risks" for the group if they do reach a deal.

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Opec may call extra meeting immediately after Algiers

Opec members could decide to hold an extraordinary meeting to discuss oil prices immediately after an informal gathering in Algiers next week, Algerian Energy Minister Noureddine Bouterfa said on Tuesday. Bouterfa told local radio

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