OPEC AGREES TO CUT OIL PRODUCTION
OPEC representatives reached a landmark deal to reduce crude oil output, giving oil an immediate price boost after months of wrangling between OPEC members and market uncertainty about the ability of the once-mighty cartel to agree.
OIL SOARS AS OPEC AGREES TO CUT OUTPUT
Oil prices surged more than 9% Wednesday. as investors hoped a deal clinched by major oil-producing nations would help oil prices break out from a punishing slump that has lasted more than two years.
U.S. OIL INVENTORIES FALL, FUEL SUPPLIES JUMP
U.S. crude oil stockpiles unexpectedly fell by 884,000 million barrels for the week ended Nov. 25, while fuel supplies surged, according to a government report released Wednesday.
GREECE'S PRIVATIZATION EFFORTS HIT A STUMBLING BLOCK
Greece failed to reach an agreement with Azerbaijan's state energy company, Socar, to sell a 66% stake in Greek natural-gas operator Desfa, creating another obstacle in the country's efforts to reach privatization targets dictated in its bailout agreement.
SOLAR FIRM VERENGO CANCELS AUCTION, SEEKS SALE TO CRIUS ENERGY UNIT
Residential solar systems company Verengo Inc. canceled the bankruptcy auction for its assets after no other bidders stepped forward to challenge a roughly $12 million offer from a unit of Crius Energy LLC.
EPA MOVES TO KEEP TOUGHER FUEL-ECONOMY TARGETS ON CARS
Environmental regulators proposed keeping intact tougher fuel-economy standards, intensifying a debate with car makers in the waning days of the Obama administration.
CSX SEES IMPROVING DEMAND TRENDS, NOTABLY FOR COAL SHIPMENTS
CSX Corp. reported improving demand trends for the current quarter in many of its markets, particularly for coal, which in recent years has seen shipment declines that have hit results across the railroad sector.
EUROPE MAY REWIRE ENERGY POLICY
The European Union's executive set out proposals on Wednesday aimed at moving the bloc toward meeting its climate change goals in an overhaul of rules affecting the power and renewable-energy markets.
FED'S BEIGE BOOK SHOWS GROWTH CONTINUED ACROSS MOST OF U.S.
Economic growth has continued across most of the U.S., though some businesses reported uncertainty persisting in the wake of the presidential election, according to the Federal Reserve's latest beige book report.
TESLA WINS RIGHT TO OPERATE DEALERSHIPS IN RICHMOND, VA.
Tesla Motors Inc., facing opposition from the owners of car dealerships, is now eligible to operate its own stores in Richmond, Va., the Virginia Department of Motor Vehicles commissioner ruled on Wednesday.
U.S. STOCKS END MONTH WITH GAINS
The Dow industrials rose for the sixth day in seven, driven by gains in energy shares, but the Nasdaq Composite and S&P 500 finished lower Wednesday. All three indexes posted gains for the month.
CANADA GDP CLIMBS ON ENERGY EXPORTS
Canada's economy expanded in the third quarter, popping up after a steep decline in the previous three-month period, powered by energy exports and household consumption.
======== DOW JONES NEWSWIRES ANALYSIS AND COMMENTARY ========
OPEC DEAL COULD BUCK TRADITION AND HELP WORLD ECONOMY
Traditional economics says a boost in oil prices is bad for global growth, but higher crude prices stemming from OPEC's production deal could bolster several nations' economies.
OPEC CUT COULD GIVE LIFELINE TO U.S. SHALE PRODUCERS
Struggling U.S. shale producers got a lifeline when OPEC agreed to curb oil output, which will likely make it more economically enticing for American drillers to pump additional crude in coming months.
(END) Dow Jones Newswires
November 30, 2016 18:20 ET (23:20 GMT)
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