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  • The world will store unwanted oil for most of 2016 as declines in U.S. output take time and OPEC is unlikely to cut a deal with other producers to reduce ballooning output, the International Energy Agency said. The agency cut its forecast for 2016 oil demand growth, which now stands at 1.17 million barrels per day following a five-year high of 1.6 million in 2015,...

  • The world will store unwanted oil for most of 2016 as declines in U.S. output take time and OPEC is unlikely to cut a deal with other producers to reduce ballooning output, the International Energy Agency said. The agency cut its forecast for 2016 oil demand growth, which now stands at 1.17 million barrels per day following a five-year high of 1.6 million in 2015,...

  • MOSCOW, Feb 9- Russia will support the candidacy of Christine Lagarde for her second term as the managing director of the International Monetary Fund, Russian Finance Minister Anton Siluanov said on Tuesday. "Christine Lagarde has shown to be an effective leader in a difficult period for the world economy and for the Fund itself," Siluanov said.

  • The world will store unwanted oil for most of 2016 as declines in U.S. output take time and OPEC is unlikely to cut a deal with other producers to reduce ballooning output, the International Energy Agency said. The agency cut its forecast for 2016 oil demand growth, which now stands at 1.17 million barrels per day following a five-year high of 1.6 million in 2015,...

  • ATHENS, Feb 9- Greece and its international lenders must conclude a first assessment of the country's bailout reforms as quickly as possible, the government spokeswoman said on Tuesday. Talks between the mission chiefs from the European Union, International Monetary Fund, European Central Bank and the euro zone's bailout fund on reviewing Greece's progress...

  • *Chances of OPEC/ non- OPEC deal very low. LONDON, Feb 9- The world will store unwanted oil for most of 2016 as declines in U.S. output take time and OPEC is unlikely to cut a deal with other producers to reduce ballooning output, the International Energy Agency said. "Persistent speculation about a deal between OPEC and leading non- OPEC producers to cut output appears to...

  • WASHINGTON— A U.N. panel on Monday proposed long-sought greenhouse gas emissions standards for airliners and cargo planes, drawing praise from the White House and criticism from environmentalists who said they would be too weak to actually slow global warming. The International Civil Aviation Organization said the agreement reached by the agency's...

  • The survey came after Sunday's meeting between Saudi Arabia's oil minister, Ali al-Naimi, and his Venezuelan counterpart produced no tangible signs that OPEC and non- OPEC suppliers were ready to meet to discuss the price slump in oil. U.S. crude settled below $30 a barrel, finishing down $1.20 at $29.69. "Everyone's fearing new builds in crude," said Donald Morton,...

  • No tangible signs emerged from a meeting on Sunday between Saudi Arabia's oil minister Ali al-Naimi and his Venezuelan counterpart that OPEC and non- OPEC suppliers were ready to meet to discuss the price slump. Hopes of an accord to shore up prices which are languishing close to 2003 have dimmed over the past week, but the meeting between cash-strapped...

  • *Facing protests, France wants more EU livestock steps. PARIS, Feb 8- France wants new "market regulation measures" to help farmers hurt by low milk and pork prices and has submitted proposals ahead of a meeting of European Union agriculture ministers later this month, Prime Minister Manuel Valls said on Monday. Prices for milk and pork have fallen below the cost of...

  • No tangible signs emerged from a meeting on Sunday between Saudi Arabia's oil minister Ali al-Naimi and his Venezuelan counterpart that OPEC and non- OPEC suppliers were ready to meet to discuss the price slump. After a flurry of diplomacy over the last two weeks about a possible production cut roiled oil markets, Sunday's meeting between cash-strapped...

  • *U.S. shale, OPEC complicate oil price recovery. PARIS/ BRUSSELS, Feb 8- Green power is cheap enough to compete with fossil fuels and will buck the trend of falling investment in oil and gas as it can offer long-term returns sheltered from political risk, investors and industry analysts say. The differences this time include the depth of uncertainty over any oil...

  • PARIS, Feb 8- France called on the European Commission on Monday to do more to help its struggling livestock industry, seeking to defuse protests that have seen farmers block highways and supermarkets. France had in particular called for "market regulation measures" in proposals submitted ahead of a meeting of European Union agriculture ministers later this...

  • UPDATE 5-Oil prices slide, supply overhang in focus Monday, 8 Feb 2016 | 7:19 AM ET

    *Focus shifting to Fed testimony, IEA, EIA and OPEC data. *Iran says European buyers agreed to lift its crude. Global benchmark Brent futures were down 68 cents at $33.38 at 1212 GMT, while U.S. crude futures lost 81 cents to $30.08.

  • LONDON, Feb 8- The global economy is being hit by a slowdown in growth, large swings in exchange rates and tumbling commodity prices. The case for a single interconnected adjustment was made by Jaime Caruana, general manager of the Bank for International Settlements on Friday. Much of the borrowing has been conducted in U.S. dollars and was made possible by low...

  • *Focus shifting to Fed testimony, IEA, EIA and OPEC data. LONDON, Feb 8- Crude oil prices eased in thin trade on Monday as a meeting between OPEC producers Saudi Arabia and Venezuela showed little indication that steps would be taken to boost prices. Saudi Arabia's oil minister Ali al-Naimi discussed cooperation between members of the Organization of the...

  • TOKYO, Feb 8- Crude oil futures were mixed in early Asian trade on Monday after a meeting between OPEC producers Saudi Arabia and Venezuela to discuss coordination on prices ended with few signs there would be steps taken to boost prices. Brent crude futures, the global benchmark was down 9 cents at $33.97 at 0039 GMT. Saudi Arabia's oil minister Ali al-Naimi...

  • MONTREAL/ WASHINGTON, Feb 7- Europe and the United States tried to bridge differences over emissions standards for aircraft on Sunday as global aviation leaders prepared to adopt new rules that could affect Boeing Co and Airbus Group's production of the largest jetliners and freighters. Proposals being debated in Montreal by the International Civil...

  • UNITED NATIONS, Feb 6- The United Nations Security Council will hold an emergency meeting on Sunday to discuss the North Korean rocket launch as requested by United States, Japan and South Korea, the U.N. press office said. The closed-door consultations of the 15- nation council on North Korea will take place at 11 a.m. ET, the United Nations said in a statement on...

  • China FX reserves fall $99.5 bln in Jan Saturday, 6 Feb 2016 | 8:29 PM ET

    BEIJING, Feb 7- China's foreign exchange reserves, the world's largest, fell by $99.5 billion in January, the central bank said in a statement on Sunday. China's gold reserves rose to $63.57 billion at the end of January, from $60.19 billion at the end of 2015, the People's Bank of China said on its website. China's International Monetary Fund reserve position was at...