Bloomberg Oil investors are playing it safe as OPEC hammers out the details of a deal to trim output. Money managers reduced bets on falling prices to the lowest since May as oil held above $50 a barrel, prolonging a rally that began when the Organization for Petroleum Exporting Countries announced a deal to cut production to between 32.5 …

  Reuters A short-term cap in oil output would reduce market volatility, Russian Energy Minister Alexander Novak said on Monday at a meeting with OPEC Secretary-General Mohammed Barkindo, as both are looking at ways to stabilise prices. Russia is the world’s largest oil producer but not a member of the Organization of the Petroleum Exporting Countries and its budget has …

  Reuters Oman’s government is covering between 60 and 70 percent of this year’s budget deficit via international borrowing such as eurobond issues, direct placements of debt and other instruments, the central bank’s executive president said. The rest of the deficit will be financed locally by drawing down financial reserves, such as money held by the State General Reserve Fund, …