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World Economy International Organizations

  • The model is very different from most other OPEC and non- OPEC producers that rely more heavily on spot sales to refiners and traders. And Saudi Arabia's commitment to reduce production under the accord with other OPEC and non- OPEC countries reached towards the end of 2016 creates a tension with its customer-focused strategy. In fact, Aramco has so far cut...

  • *OPEC cuts began on Jan. 1 but stockpiles still climbing. LONDON, March 23- Oil prices rallied from four-month lows on Thursday but the recovery was cautious with investors concerned that OPEC- led supply cuts were not yet reducing record U.S. crude inventories. Brent crude, the international benchmark for oil, was trading at $51.02 a barrel by 1112 GMT, up 38 cents on...

  • *Polish PM says may block the EU's Rome declaration. BUDAPEST, March 23- Central European stocks rebounded on Thursday, tracking Western European peers and shrugging off a warning from Polish Prime Minister Beata Szydlo that her country may block a political roadmap for the European Union. Regional share indices dipped in early trade after eastern Europe's...

  • *OPEC cuts began on Jan. 1 but stockpiles still climbing. Brent crude, the international benchmark for oil, was trading at $50.84 a barrel by 0915 GMT, up 20 cents on the day and rebounding from Wednesday's slide to $49.71, it lowest level since Nov. 30 when OPEC announced plans to cut output. While OPEC has broadly met its commitments to reduce output, non- OPEC producers...

  • *Brent crude dipped below $50 but has since recovered. *China's fuel exports near record, imports slump. SINGAPORE, March 23- Oil prices recovered on Thursday from losses chalked up the session before, but the market remained under pressure as bloated U.S. crude inventories and rising output dampen OPEC- led efforts to curb global production.

  • *Brent crude dipped below $50 but has since recovered. *China's fuel exports near record, imports slump. SINGAPORE, March 23- Oil prices recovered on Thursday from losses chalked up the session before, but the market remained under pressure as bloated U.S. crude inventories and rising output dampen OPEC- led efforts to curb global production.

  • *Brent crude dipped below $50 but has since recovered. *China's fuel exports near record, imports slump. SINGAPORE, March 23- Oil prices recovered on Thursday from losses chalked up the session before, but the market remained under pressure as bloated U.S. crude inventories and rising output dampen OPEC- led efforts to curb global production.

  • *Brent crude dipped below $50 but has since recovered. *China's fuel exports near record, imports slump. SINGAPORE, March 23- Oil prices recovered on Thursday from losses chalked up the session before, but the market remained under pressure as bloated U.S. crude inventories and rising output dampen OPEC- led efforts to curb global production.

  • SINGAPORE, March 23- Oil prices on Thursday recovered from losses chalked up the session before, but the market remains under pressure as bloated U.S. crude inventories and rising output dampen OPEC- led efforts to curb global production. Prices for front-month Brent crude futures, the international benchmark for oil, were at $50.94 per barrel at 0146 GMT, up 30...

  • SINGAPORE, March 23- Oil prices on Thursday recovered from losses chalked up the session before, but the market remains under pressure as bloated U.S. crude inventories and rising output dampen OPEC- led efforts to curb global production. In the United States, West Texas Intermediate crude futures were up 33 cents at $48.38 a barrel, after testing support at $47 a...

  • CARACAS/ PUNTO FIJO, Venezuela, March 22- G rumbling Venezuelans were lining up for scarce gasoline across the OPEC nation on Wednesday, due to mounting oil industry woes in the country with the world's largest crude reserves. Venezuela, which also has the world's cheapest gasoline, has wrestled with intermittent gasoline shortages in recent months, especially...

  • Crude stocks in the world's top oil consumer have been building since the beginning of the year and undermining hopes that an OPEC- led deal to cut production will reduce a persistent global glut. "The market remains nervous about rising U.S. production, which is also reducing the effectiveness of output cuts by the OPEC and some non- OPEC countries," said Abhishek...

  • *OPEC inclined to extend cuts; wants non- OPEC participation. NEW YORK, March 22- Oil prices slipped on Wednesday to their lowest since late November, with Brent testing the $50 per barrel support, after data showed record high U.S. crude inventories rising faster than expected, raising doubts over the viability of OPEC- led output cuts. "The fact that this supply has...

  • LONDON, March 22- British-based banks would be foolhardy to expect to retain access to European Union markets in return for sticking closely to the bloc's rules after Brexit, a senior banking official said on Wednesday. Banks in Britain can currently trade across the bloc's single market under European "passporting" rules, but this is expected to end after the UK...

  • Britain is one of the four main shareholders of the bank, which provides finance and expertise for projects that contribute to European Union policy objectives. Britain has in theory a right to receive a 16.1 percent share of the bank's capital once it leaves the EU, a report of the British House of Lords said in March, estimating that the British claim could be...

  • March 22- U.S. crude oil stocks rose to a fresh record last week, the Energy Information Administration said on Wednesday, as a surge in imports and rising domestic production more than offset a hike in refinery runs. Crude stocks in the world's top oil consumer have been building since the beginning of the year and undermining hopes that an OPEC- led deal to cut...

  • *OPEC inclined to extend cuts; wants non- OPEC participation. NEW YORK, March 22- Oil prices slid to almost four-month lows on Wednesday, with Brent briefly falling below $50 a barrel, after data showed U.S. crude inventories rising faster than expected, piling pressure on OPEC to extend output cuts beyond June. "The market remains nervous about rising U.S. production,...

  • *OPEC inclined to extend cuts, wants non- OPEC backing. *Rising U.S. production undermines OPEC reduction effort. "With U.S. crude stocks continuing to mount into record territory both in total and at Cushing following almost two months of OPEC production restraint, we feel that the odds of a gradual unraveling in the OPEC agreement have been increased...

  • BERLIN— Germany's foreign minister is suggesting his country could offer to pay more money into the European Union, arguing that investing in Europe is "an investment in our own future." Germany is a net contributor to the 28- nation EU's budget. "And he said some EU partners, such as Sweden and the Netherlands, pay more per head to the bloc.

  • ATHENS, March 22- Greece said on Wednesday it hopes for a deal with its international lenders within the month of April and is working to bridge differences on labour, pension and energy reforms. The onus for an agreement was not only on the Greek government, but on its European Union and International Monetary Fund lenders too, government spokesman Dimitris...