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Saudi Arabia, Russia and other members of OPEC+ pump more than 40% of the world's oil, or some 43 million bpd. Two OPEC+ sources told Reuters a preliminary agreement has been reached for a cut of more than 1 million bpd. This would include Saudi Arabia extending the voluntary cut of 1 million bpd it has had in place since July plus additional contributions from other members, sources said. "It depends on other group participants, could be near or more," the third source said when asked about the possible 1 million bpd cut. The OPEC+ meeting coincides with the opening of the United Nations' COP28 climate summit being hosted by OPEC member the United Arab Emirates.

Persons: Dado Ruvic, Helima Croft, Alex Lawler, Olesya Astakhova, Maha El Dahan, Ahmad Ghaddar, David Goodman, Jason Neely Organizations: REUTERS, OPEC, Reuters, Saudi, Brent, RBC Capital Markets, International Energy Agency, United Nations, United, United Arab Emirates, Thomson Locations: OPEC, MOSCOW, DUBAI, Saudi Arabia, Russia, United Arab

☆ Stock Market Today: Futures Tick Up; Investors Await Tesla Cybertruck Update
▼ + stars: | 2023-11-30 | by ( ) www.wsj.com time to read: +1 min

Stocks, international currencies, and bitcoin have also rallied, with traders betting the Federal Reserve is done lifting interest rates. In Europe, the Stoxx Europe 600 inched higher after data showed French inflation softening in November. Up ahead: Tesla will update investors on the Cybertruck. The Fed’s preferred inflation gauge, the PCE, or personal-consumption expenditures price index, is also due. Economists expect to see signs of softening inflation.

Persons: Stocks, Tesla, Brent Organizations: Bloomberg U.S, Federal, Nasdaq, Stock, Dow, Treasury, RBC, Kroger, Dell, Marvell, PCE Locations: Russia, Europe

☆ Oil prices rise after storm disrupts Kazakh, Russian exports
▼ + stars: | 2023-11-29 | by ( ) www.cnbc.com time to read: +2 min

Oil prices rose on Wednesday as a storm in the Black Sea region disrupted oil exports from Kazakhstan and Russia, raising fears of supply tightness, while investors awaited a crucial decision by OPEC+, which may deepen or extend output cuts. A severe storm in the Black Sea region has disrupted up to 2 million barrels per day of oil exports from Kazakhstan and Russia, according to state's officials and port agent data. Kazakhstan's largest oilfields are cutting combined daily oil output by 56% from Nov. 27, the Kazakh energy ministry said. A weaker dollar typically supports oil prices as it makes oil cheaper for those holding other currencies. Meanwhile, U.S. crude oil inventories fell by 817,000 barrels last week, according to market sources citing American Petroleum Institute figures.

Persons: Hiroyuki Kikukawa Organizations: OPEC, Brent, . West Texas, of, Petroleum, NS, Nissan Securities, Federal Reserve, American Petroleum Institute, Reuters, Weekly U.S Locations: Kazakhstan, Russia, OPEC, Kazakh

"Investors covered short positions ahead of the OPEC+ meeting amid worries over supply disruption from Kazakhstan," said Hiroyuki Kikukawa, president of NS Trading, a unit of Nissan Securities. OPEC+ is due to hold an online ministerial meeting on Thursday to discuss 2024 production targets, after delaying the meeting from Nov. 26. The talks will be difficult and a rollover of the previous agreement is possible rather than deeper production cuts, four OPEC+ sources said. Kazakhstan's largest oilfields are cutting combined daily oil output by 56% from Nov. 27, the Kazakh energy ministry said. Meanwhile, U.S. crude oil inventories fell by 817,000 barrels last week, according to market sources citing American Petroleum Institute figures.

Persons: Turar, Hiroyuki Kikukawa, Warren Patterson, Ewa Manthey, Brent, Yuka Obayashi, Muyu Xu, Lincoln, Kim Coghill Organizations: REUTERS, Rights, Brent, . West Texas, of, Petroleum, NS, Nissan Securities, ING, Federal Reserve, American Petroleum Institute, Reuters, Weekly U.S, Thomson Locations: Mangystau, Kazakhstan, Rights TOKYO, SINGAPORE, Russia, OPEC, Kazakh

☆ In a Shaky Oil Market, OPEC Has Bitter Decisions to Make
▼ + stars: | 2023-11-29 | by ( Stanley Reed | More About Stanley Reed | ) www.nytimes.com time to read: +1 min

The agenda — whether to cut production further, and by how much — is likely to be unpalatable for many of the 23 members. It has dropped even as producers in OPEC Plus, a bigger group that includes Russia, have cut production, but the coming months seem unlikely to give oil producers a respite from this squeeze. After three years of pandemic recovery and robust increases in demand for oil, appetite is expected to slow in 2024. Overall economic expansion is expected to be tepid while more efficient energy use and increasing numbers of electric vehicles reduce oil consumption. With production expected to increase outside of OPEC Plus, there will be little need for increased output from the producers group in the early part of 2024 or, perhaps, longer, analysts say.

Organizations: of, Petroleum, Brent, OPEC Locations: United States, Vienna, Ukraine, Russia, China

The New Zealand dollar was last up 1.1% at a four-month high of $0.6207, having blown past resistance. The U.S. dollar, meanwhile, slid to fresh multi-month lows on the euro, yen, sterling, the Australian dollar, yuan and Swiss franc. Overnight Fed Governor Christopher Waller - an influential and previously hawkish voice at the U.S. central bank - told the American Enterprise Institute that rate cuts could begin in a matter of months, provided inflation keeps falling. Fed funds futures rallied on the remark to price more than hundred basis points of cuts in 2024 and 40% chance they begin as soon as March. Two-year Treasury yields fell sharply and along with the dollar fell further still in Asia.

Persons: Christopher Waller, Governor Waller's, Tapas Strickland, Jerome Powell, Waller, CONDITIONALITY Waller's, Seng, Vishnu Varathan, Simon Cameron, Moore Organizations: New Zealand, Nikkei, U.S ., Swiss, U.S, American Enterprise Institute, Governor, National Australia Bank, Fed, HK, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, Hong Kong, Sydney, China, Meituan, Zealand, Singapore

TOKYO (AP) — Asian shares mostly fell Wednesday although a strong report on U.S. consumer confidence and hopes the Federal Reserve is finished with its aggressive interest rate hikes sent shares higher on Wall Street. Food delivery company Meituan's Hong Kong-traded shares dropped 11% after it forecast its revenue will fall in the current quarter. The loosening grip from inflation and a resilient economy have raised hopes that the Fed might finally be finished with raising its benchmark interest rate. Hopes that the Fed will keep its benchmark interest rate steady were reaffirmed Tuesday by Christopher Waller, a member of the Fed’s Board of Governors. The Fed will meet again in December to update its interest rate policy.

Persons: Australia's, Hang Seng, Matthew Weller, Forex.com, Brent, Tesla, Christopher Waller, “, ” Waller, Damian J, Troise, Alex Veiga Organizations: TOKYO, Reserve, Nikkei, China Evergrande, Benchmark, New York Mercantile Exchange, Dow Jones, Nasdaq, Microsoft, GE Healthcare Technologies, Treasury, Federal Reserve, Fed’s, Governors, American Enterprise Institute, U.S ., AP Business Locations: Hong, Shanghai, Hong Kong, China, OPEC, Washington

REUTERS/Dado Ruvic/File Photo Acquire Licensing RightsDUBAI/LONDON, Nov 29 (Reuters) - OPEC+ is continuing to hold talks on 2024 oil policy, with no delay to a meeting scheduled for Thursday currently expected, two sources from the producer group said on Wednesday. On Tuesday, sources had said a further delay to the meeting was possible amid talks which one of them described as difficult as countries maintained their positions. "The negotiations are ongoing, but no delay is expected," one of the sources said. OPEC+ sources said this was because of a disagreement over output quotas for African producers, though sources since said the group had moved closer to a compromise on this point. OPEC+ talks over production quotas have often been difficult in the past, most recently at their June meeting, which extended existing oil output cuts into 2024 and agreed the increase for the UAE because of its efforts to expand production capacity.

Persons: Dado, Maha El, Olesya Astakhova, Alex Lawler, Ahmad Ghaddar, Mark Potter, Kim Coghill Organizations: REUTERS, Rights, United, Brent, OPEC, Thomson Locations: Rights DUBAI, LONDON, OPEC, United Arab Emirates, UAE, Saudi Arabia, Russia, Saudi

OPEC+, the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, is due to hold an online ministerial meeting on Thursday to discuss 2024 production targets. The market tumbled last week when OPEC+ pushed back the original date for its meeting to iron out differences on production targets for African producers. "According to delegates, Saudi Arabia is demanding lower production quotas from the other OPEC+ countries. Oil also found support from a weak dollar, an expected decline in U.S. crude inventories and the drop in Kazakh output. A weaker dollar typically bolsters oil demand, making dollar-denominated oil less expensive for buyers using other currencies.

Persons: Andrew Kelly, Waller, Phil Flynn, Commerzbank's Carsten Fritsch, Christopher Waller, Stephanie Kelly, Alex Lawler, Natalie Grover, Kim Coghill, David Goodman, David Gregorio Our Organizations: REUTERS, Brent, . West Texas, Organization of, Petroleum, Price Futures Group, United, Reuters, American Petroleum Institute, The U.S, Federal, Thomson Locations: Manhattan , New York City, U.S, Russia, Chicago, Angola, Nigeria, Saudi Arabia, Kuwait, United Arab Emirates

☆ Oil rises, Brent tops $80 ahead of OPEC+ meeting
▼ + stars: | 2023-11-28 | by ( Alex Lawler | ) www.reuters.com time to read: +2 min

A person puts gas in a vehicle at a gas station in Manhattan, New York City, U.S., August 11, 2022. OPEC+, comprising the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, is due to hold an online ministerial meeting on Thursday to discuss production targets for 2024. The market tumbled last week when OPEC+ pushed back the original date for its meeting to iron out differences on production targets for African producers. Oil also found support from a weak dollar, an expected decline in U.S. crude inventories and the drop in Kazakh output. Four analysts polled by Reuters estimated that the latest round of weekly U.S. supply reports will show crude inventories fell by about 2 million barrels.

Persons: Andrew Kelly, Tamas Varga, Alex Lawler, Sudarshan, Kim Coghill, David Goodman Organizations: REUTERS, of, Petroleum, Brent, . West Texas, Reuters, American Petroleum Institute, Thomson Locations: Manhattan , New York City, U.S, OPEC, Russia, Saudi Arabia

☆ Stock Market Today: Dow Opens Slightly Higher; PPD Stock, Gold Price in Focus
▼ + stars: | 2023-11-28 | by ( ) www.wsj.com time to read: +1 min

But the IPO market is heating up: Fast-fashion giant Shein filed Monday for what could be one of the biggest market debuts in years. The S&P 500 and the Nasdaq Composite were modestly higher, while the Dow industrials rose 0.3%. Benchmark Treasury yields slipped. Oil prices rose. U.S. home prices rose in September.

Persons: Shein, Carlyle Organizations: OPEC, Nasdaq, Dow, Micron, Treasury, Brent

The logo of the Organization of the Petroleoum Exporting Countries (OPEC) is seen outside of OPEC's headquarters in Vienna, Austria April 9, 2020. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsLONDON, Nov 28 (Reuters) - OPEC+ talks on 2024 oil policy are difficult, making a rollover of the previous agreement a possibility rather than deeper production cuts, four OPEC+ sources said on Tuesday. Two of the sources said an additional cut - a step that sources have said would be looked at - was not being actively discussed. OPEC+ sources said this was because of a disagreement over output levels for African producers, though sources have since said the group has moved closer to a compromise on this point. OPEC's previous meeting in June had already extended output cuts into 2024.

Persons: Leonhard Foeger, Brent, Maha El Dahan, Ahmad Ghaddar, Olesya, Alex Lawler, Kirsten Donovan, Susan Fenton, David Goodman Organizations: Organization, REUTERS, of, Petroleum, Reuters, OPEC, Thomson Locations: OPEC's, Vienna, Austria, OPEC, Russia, Saudi Arabia, Saudi

☆ Make these 5 investments as stocks climb to record highs in 2024, according to top strategists at Bank of America and BMO Capital Markets
▼ + stars: | 2023-11-28 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

COVID), and active funds are hugging their benchmarks," Subramanian wrote in a note about her 2024 outlook. "We're bullish not because we expect the Fed to cut, but because of what the Fed has accomplished," Subramanian wrote. BMO Capital MarketsBofA analysts are calling for slower inflation, better profit margins, and improved efficiency, Subramanian wrote. BMO is less optimistic about energy stocks since they've lagged behind oil prices in the last year. Consumer discretionary is a strong bet if interest rate hikes are over and consumers keep spending, Subramanian wrote.

Persons: Brian Belski, Belski, Savita Subramanian, Subramanian, Bank of America BMO's Belski, he's, boomers, BofA Organizations: Bank of America, BMO Capital Markets, Business, BMO, Federal Reserve, " Bank of, Energy, BMO isn't Locations: Ukraine, Israel

Tokyo and Hong Kong fell while Shanghai, Seoul and Sydney gained. U.S. futures and oil prices edged higher. Meanwhile, the broader economy has remained strong enough in the face of rising interest rates and inflation to avoid a recession. The Hang Seng in Hong Kong slipped 0.8% to 17,381.14. The yield on the 10-year Treasury, which influences interest rates on mortgages and other loans, fell to 4.38% from 4.47% late Friday.

Persons: ” Robert Carnell, Min Joo Kang, Sensetime, Grizzly, Kospi, Australia's Organizations: Sydney, Conference, FactSet, Federal, Federal Reserve, U.S, ING Economics, Nikkei, Grizzly Research, Hong Kong Stock Exchange, Dow Jones, Nasdaq, Treasury, New York Mercantile Exchange, Brent, Investors, U.S . Locations: BANGKOK, Asia, Tokyo, Hong Kong, Shanghai, Seoul, China

But 18-24 months later, the acute phase of the adjustment is complete, with energy inventories comfortable and prices reverting towards long-term inflation-adjusted averages. Chartbook: Europe's energy supplies and pricesThere will undoubtedly be more shocks in future, but the disruption associated with the end of the pandemic and Russia’s invasion of Ukraine is over. Europe’s residual issue is that it has swapped relatively cheap Russian pipeline gas for relatively expensive LNG, putting its industrial competitiveness at risk, but that is a chronic problem rather than a crisis. OILIn the oil market, U.S. domestic crude and condensates production has continued to increase and surpassed its pre-pandemic peak in August 2023. Related columns:- China braces for record winter electricity demand (November 24, 2023)- Europe’s gas crisis is over, but not the painful adjustment (November 21, 2023)- Oil prices slump as fundamentals reassert themselves (November 9, 2023)- Europe's record gas stocks start to pressure prices (November 7, 2023)John Kemp is a Reuters market analyst.

Persons: John Kemp, Jan Harvey Organizations: U.S, Brent, Thomson, Reuters Locations: Europe, Asia, Ukraine, U.S, Saudi Arabia, Germany, Italy, France, Netherlands, Spain, Belgium, Poland, Northwest Europe, China, Russia, South, East Asia, Brazil

☆ Oil on track to snap losing streak on hopes of further OPEC+ cuts
▼ + stars: | 2023-11-28 | by ( ) www.cnbc.com time to read: +1 min

Oil prices rose on Tuesday, snapping a multi-session losing streak ahead of a crucial meeting of OPEC+, which is widely expected to deepen and extend cuts to oil production amid fears of supply being consistently higher than demand. Brent crude futures were up 45 cents, or 0.6%, at $80.43 a barrel at 0152 GMT, on track to snap a four-day losing streak. OPEC+, which combines the Organization of the Petroleum Exporting Countries, or OPEC, and allies including Russia, will hold an online ministerial meeting on Nov. 30 to discuss production targets for 2024. "Crude oil was up sharply in early trade amid reports that OPEC would reduce its output quotas," ANZ Research said in a client note on Tuesday. This may soften the US opposition to any move to tighten oil markets and support prices," ANZ said.

Organizations: Brent, . West Texas, Organization of, Petroleum, ANZ Research, Reuters, ANZ Locations: Russia, Saudi Arabia, United States

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Brent crude futures were down 60 cents, or 0.7%, at $79.98 a barrel. U.S. West Texas Intermediate (WTI) crude futures lost 68 cents, or 0.9%, to $74.86. OPEC+ is looking at deepening oil production cuts despite its policy meeting being postponed to this Thursday, an OPEC+ source said on Monday. The Middle East crisis had impacted oil prices as investors worried about impacts on supply.

Persons: Angus Mordant, Rebecca Babin, Goldman Sachs, Arathy Somasekhar, Paul Carsten, Florence Tan, Mohi Narayan, Peter Graff, Mark Potter, Tomasz Janowski, Cynthia Osterman, David Gregorio Our Organizations: REUTERS, HOUSTON, Brent, . West Texas, Organization of, Petroleum, Reuters, Saudi, CIBC Private Wealth, ING, OPEC, United, International Energy Agency, Qatar, Hamas, U.S . Commodity Futures Trading Commission, Thomson Locations: Loving County , Texas, U.S, Saudi, Russia, OPEC, Saudi Arabia, United Arab Emirates, Iraq, Turkey, United States, Gaza, Houston, London

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Brent crude futures were down 60 cents, or 0.7%, at $79.98 a barrel, while U.S. West Texas Intermediate (WTI) crude futures lost 68 cents, or 0.9%, to $74.86. "We still expect an extension of the unilateral Saudi and Russia cuts through at least the first quarter of 2024," the bank added. Higher crude stockpiles in the United States have also put downward pressure on prices, analysts said. The Middle East crisis had impacted oil prices as investors worried about impacts on supply.

Persons: Angus Mordant, Rebecca Babin, Goldman Sachs, Arathy Somasekhar, Paul Carsten, Florence Tan, Mohi Narayan, Peter Graff, Mark Potter, Tomasz Janowski, Cynthia Osterman Organizations: REUTERS, HOUSTON, Brent, U.S, West Texas, Organization of, Petroleum, Reuters, Saudi, CIBC Private Wealth, ING, OPEC, United, International Energy Agency, Qatar, Hamas, Thomson Locations: Loving County , Texas, U.S, Saudi, Russia, OPEC, Saudi Arabia, United Arab Emirates, Iraq, Turkey, United States, Gaza, Houston, London

☆ Brent slips toward $80/bbl ahead of OPEC+ meeting
▼ + stars: | 2023-11-27 | by ( Florence Tan | ) www.reuters.com time to read: +3 min

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant/File Photo Acquire Licensing RightsSINGAPORE, Nov 27 (Reuters) - Oil prices slipped on Monday, with Brent falling toward $80 a barrel, as investors awaited the OPEC+ meeting later this week for an agreement to curb supplies into 2024. Since then, the group has moved closer to a compromise, four OPEC+ sources told Reuters on Friday. Ahead of the OPEC+ meeting, estimated exports by OPEC countries have declined to 1.3 million barrels per day below levels in April, Goldman Sachs analysts said in a note, in line with the group's supply targets. The International Energy Agency said it expects a slight surplus in global oil markets in 2024 even if the OPEC+ nations extend their cuts into next year.

Persons: Angus Mordant, Brent, Goldman Sachs, Vivek Dhar, Florence Tan, Sonali Paul Organizations: REUTERS, Rights, Brent, U.S, West Texas, Organization of, Petroleum, Reuters, Friday, ING, OPEC, United, International Energy Agency, Commonwealth Bank, IEA, Thomson Locations: Loving County , Texas, U.S, Rights SINGAPORE, OPEC, Saudi Arabia, Russia, Saudi, United Arab Emirates, Gaza

☆ US gas prices have tumbled for 2 months to notch their longest streak of declines in over a year
▼ + stars: | 2023-11-27 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

US gas prices have dropped for 60 consecutive days, per Bloomberg. It's the longest streak of declines in more than a year, according to the report. A gallon of gas on average in the US costs $3.25, about 30 cents cheaper than this time last year. AdvertisementUS gas prices have dropped for 60 consecutive days, notching their longest streak of declines in more than a year. Meanwhile, the Federal Reserve's aggressive interest-rate hiking since March 2022 has weighed on economic growth and consumer spending, which analysts point to as one reason contributing to softer oil and gas prices.

Persons: —, Brent Organizations: Bloomberg, Service, Biden Administration, Saudi, West Texas

☆ Brent holds above $80 a barrel ahead of OPEC+ meeting
▼ + stars: | 2023-11-27 | by ( ) www.cnbc.com time to read: +2 min

Oil prices were little changed on Monday, with Brent holding above $80 a barrel, as investors awaited the OPEC+ meeting later this week for an agreement to curb supplies into 2024. Brent crude futures edged up 12 cents, or 0.2%, to $80.70 a barrel by 0028 GMT, while U.S. West Texas Intermediate crude futures were at $75.64 a barrel, up 10 cents, or 0.1%. Since then, the group has moved closer to a compromise, four OPEC+ sources told Reuters on Friday. "We still expect an extension of the unilateral Saudi and Russia cuts through at least 2024 Q1, and unchanged group cuts, although a deeper group insurance cut is likely on the table," Goldman Sachs analysts said in a note. Ahead of the OPEC+ meeting, estimated exports by OPEC countries have declined to 1.3 million barrels per day below levels in April, they added, in line with the group's supply targets.

Persons: Brent, Goldman Sachs, Vivek Dhar Organizations: Brent, U.S, West Texas, Organization of, Petroleum, Reuters, OPEC, United, International Energy Agency, Commonwealth Bank, IEA Locations: OPEC, Saudi Arabia, Russia, Saudi, United Arab Emirates, Gaza

TOKYO (AP) — Asian shares retreated Monday as investors awaited updates on consumer spending and inflation in the U.S. and other nations. While analysts expect them to stand pat on policy, attention remains relatively high, given concerns about inflation. Wall Street ended last week mixed with a half-day trading session that capped a fourth straight winning week. The holiday shopping season kicked off with Black Friday amid concerns that spending may slow under pressure from dwindling savings, rising credit card debt and inflation. The major stock indexes’ latest weekly gains reflect a turnaround in the market’s sentiment in November following a three-month slide.

Persons: ” Yeap Jun Rong, Hong, Hang Seng, Brent, Yuri Kageyama Organizations: TOKYO, Nikkei, IG, Shanghai, Reserve Bank of New, Bank of Korea, Bank of, Black, Dow Jones, Nasdaq, Nvidia, Google, CF Industries, Federal Reserve, Treasury, Benchmark, New York Mercantile Exchange, U.S Locations: U.S, China, Reserve Bank of New Zealand, Bank of Thailand

[1/2] An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. Both contracts had their first weekly gain in five weeks as OPEC+ prepares for a meeting that will have output cuts high on the agenda after recent oil price declines on demand concerns and burgeoning supply, particularly from non-OPEC producers. OPEC+ has moved closer to a compromise with African oil producers on 2024 output levels, three OPEC+ sources have told Reuters. "Fundamentals developments have been bearish with rising U.S. oil inventories," ANZ analysts said in a note. Analysts say oil demand growth could weaken to about 4% in the first half of 2024 as the property sector crunch weighs on diesel use.

Persons: John Kilduff, Tony Sycamore, Brent, Craig Erlam, Tina Teng, Paul Carsten, Natalie Grover, Colleen Howe, David Goodman, Louise Heavens, Marguerita Choy Organizations: REUTERS, U.S, Brent, West Texas, Organization of, Petroleum, Reuters, OANDA, ANZ, Petrobras, Thomson Locations: Zhoushan, Zhejiang province, China, Gaza, OPEC, Wednesday's, WTI, Israel, New York, Russia, U.S, London, Beijing

Oil futures traded steady ahead of next week's OPEC+ meeting, which could bring some kind of agreement on output cuts in 2024. Gold futures finished higher as the dollar index slipped against a basket of currencies on Friday. Germany's 10-year government bond yield , the benchmark for the euro area, rose 3 basis points to a 1-1/2-week high. Oil prices were steady after tumbling more than 1% on concerns over a delayed OPEC+ meeting. ($1 = 7.2111 Chinese yuan renminbi)Reporting by Chris Prentice in New York, Naomi Rovnick in London and Stella Qiu in Sydney.

Persons: Caitlin Ochs, Germany's DAX, Peter Doherty, Arbuthnot Latham, Robert Holzmann, Pierre Wunsch, Chris Prentice, Naomi Rovnick, Stella Qiu, Toby Chopra, Susan Fenton, Mark Potter, Deepa Babington Organizations: New York Stock Exchange, REUTERS, U.S, Dow Jones, Nasdaq, Hamas, P Global, European Central Bank, ECB, Bank of England, Japan's Nikkei, China's CSI, Brent, Thomson Locations: New York City, U.S, OPEC, Germany, Israel, London, Belgian, Asia, New York, Sydney

Photographers take photos near a large screen showing stock prices at the Tokyo Stock Exchange (TSE) after market opens in Tokyo, Japan October 2, 2020. REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsLONDON/SYDNEY, Nov 24 (Reuters) - Global shares drifted on Friday in the absence of guidance from Wall Street, which was closed for the Thanksgiving holiday the previous day, but they were still on course for their best month since November 2020. An indecisive Asia session extended to Europe, with the Stoxx 600 share index (.STOXX) trading flat. Despite optimism having surged across global markets this month, there may also be a lull ahead as investors position their portfolios for 2024, some analysts said. Minutes from the latest Fed policy meeting signalled there would not be more hikes unless progress against taming inflation faltered.

Persons: Kim Kyung, Peter Doherty, Arbuthnot Latham, Shane Oliver, Naomi Rovnick, Stella Qiu, Sam Holmes, Robert Birsel, Toby Chopra, Susan Fenton Organizations: Tokyo Stock Exchange, REUTERS, Global, Wall, Nasdaq, Hamas, AMP, European Central Bank, ECB, Bank of England, Japan's Nikkei, China's CSI, Brent, Thomson Locations: Tokyo, Japan, SYDNEY, Asia, Europe, Israel, U.S, London, OPEC

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