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OPEC to start final diplomatic push on oil-cuts plan

  CAIRO / Reuters OPEC nations embarked on a final diplomatic effort to secure a deal on oil cuts, with Qatar, Algeria and Venezuela leading the push to overcome the divide between the group’s biggest producers, according to a delegate familiar with the talks. The behind-the-scenes diplomacy comes after bilateral meetings over the weekend failed to resolve the rifts, leaving ...

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Oil rebounds from 8-week low

Bloomberg Oil rebounded from the lowest close in eight weeks as OPEC nations were said to be making a final diplomatic effort toward securing a deal to curb production and stabilize prices. Futures rose as much as 2.6 percent in New York after falling 4.3 percent the previous three sessions. Qatar, Algeria and Venezuela are leading the push to finalize ...

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BP CEO sees oil market ‘pessimistic’ about OPEC cuts

  Bloomberg The oil market is “pretty pessimistic” about OPEC reaching a deal to cut production, BP Plc Chief Executive Officer Bob Dudley said. Oil prices will probably stay around current levels if the Organization of Petroleum Exporting Countries fails to implement the deal it reached in Algiers in September to limit output, Dudley said in an interview on Bloomberg ...

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