Opec deal hinged on 2am phone call and it failed

2016-12-02 08:53

After months of meetings from Doha to Moscow, it was a morning phone call between two of the most powerful men in the global oil industry that finally broke the impasse.

Oil trades near $50 after Opec deal

2016-12-01 15:03

Oil has traded near $50 and crude producers rose after Opec approved its first supply cuts in eight years, with the focus on cutting oil glut.

Opec confounds skeptics, agrees to first oil cuts in 8 years

2016-12-01 06:52

Opec has confounded its doubters and sent crude oil prices soaring by agreeing to its first production cuts in eight years

Oil deal D-Day: Opec deadlock threatens plan

2016-11-30 08:30

An Opec deal to curtail oil production and prop up global prices appears in jeopardy as Iran says it won’t make cuts while Saudi Arabia insisted Tehran must play a role.

Oil retreats as OPEC split imperils deal

2016-11-29 15:15

Oil has retreated below $47 in New York after OPEC officials failed to work out a compromise on a deal to cut production and boost crude prices.

Oil retreats below $47 before Opec meeting as metals snap rally

2016-11-29 07:24

Oil has retreated back below $47 as Opec members haggled ahead of a meeting on production cuts, while a rally in metals ran out of steam.

Opec pushes for oil deal as Saudis open door for no output cut

2016-11-28 07:33

Opec is embarking on a last-ditch diplomatic push to reach a production cut, with ministers flying to Russia for talks, as Saudi Arabia for the first time suggested the oil-club doesn’t necessarily need to curb output.

OPEC’s latest headache: Russian reluctance to cut oil output

2016-11-24 12:50

For months, Russia has told OPEC its preferred option in any eventual oil-supply deal was to freeze production, rather than to cut it.

Oil climbs as Iran, Iraq signal deal hope before Vienna meeting

2016-11-21 07:25

Oil has extended gains as Iran signalled optimism OPEC will agree to a supply-cut deal and Iraq said it will offer new proposals to help bolster the group’s unity.

Oil rebounds from 8-week low as OPEC said to work secure deal

2016-11-15 13:28

Oil has rebounded from the lowest close in eight weeks as OPEC nations have said to be making a final effort toward securing a deal to curb production and stabilise prices.


Oil prices jump as European stocks stumble

2016-12-02 07:30

Oil prices have risen, building on a surge triggered by Opec's output-cutting deal, while European stock markets retreated as attention switched to worries over Italy's referendum.

Oil's rally holds after Opec deal

2016-12-01 08:22

Oil has held its biggest gain in nine months and crude producers rallied after Opec approved the first supply cuts in eight years, with focus on easing glut.

Opec decision day rouses new optimism

2016-11-30 11:35

After weeks of often tense negotiations, Opec ministers are meeting in Vienna on Wednesday to try and salvage a deal to cut oil production and prop up global prices.

Opec seeks to nail down oil output cut

2016-11-30 07:32

Opec will seek to defy expectations and finalise a deal in Vienna reducing its oil output for the first time in eight years in an effort to boost painfully low crude prices.

OPEC to remain split as Russia won't attend meeting

2016-11-29 10:53

OPEC officials have failed to make an agreement to cut production and revive oil prices, while Russia said it’s not planning to attend crucial talks on Wednesday.

Oil extends slide below $46 on scepticism over OPEC deal

2016-11-28 15:12

Oil has extended declines below $46 a barrel in New York amid skepticism that OPEC will be able to reach an agreement to cut production this week.

Oil prices fall further in Asia, yen gains hit Tokyo

2016-11-28 07:13

Oil prices have sunk further on fears a planned cut in output will not be agreed by top producers, while the dollar retreated against most of its peers after its recent surge.

Oil extends gains as OPEC shows signs of progress on output deal

2016-11-22 08:32

Oil has surged for a third day on signs OPEC has made progress toward finalizing a deal to cut output.

Oil extends losses as dollar rally offsets Saudi deal optimism

2016-11-18 12:20

Oil has extended its losses for a third day as a rally in the US dollar offset optimism by Saudi Arabia that OPEC will finalise a deal to curb output and stabilise prices.

Oil investors shrug off US election with focus on OPEC

2016-11-15 09:01

Oil investors seem to be the only ones uninterested in Donald Trump’s election.

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