Reuters When OPEC reached a deal last year to cut oil output, the decision to exclude Nigeria and Libya from the restrictions was seen as a risk to the group’s efforts to curb a global crude glut. An oil price rally has already stumbled since the deal, but Nigeria and Libya are not to blame. Output from both nations …

  Bloomberg Iran has signed a $1 billion deal with private investors to develop Mehdiabad, one of the world’s largest zinc mines, which it expects to go on stream in next four years and produce 800,000 ton-nes of zinc concentrate per year. The state-owned Iranian Mines and Mining Industries Development and Renovation Organisation (IMIDRO) said in a weekend statement it …

  Bloomberg Oil rebounded above $48 a barrel amid a reported decline in US crude stockpiles as the International Energy Agency said the market needs time to drain a global inventory glut. Futures advanced as much as 2.4 percent in New York after slumping almost 11 percent the previous seven sessions. US inventories fell by 531,000 barrels last week, the …