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World Economy International Organizations

  • Brent futures were down 5 cents at $55.75 a barrel at 0245 GMT, while U.S. "Sustained gains above $55 a barrel, and a hoped for rally to $60 a barrel, both proving incredibly tough nuts to crack," said Jeffrey Halley, senior market analyst at futures brokerage OANDA in Singapore. "At the crux of the matter is that 90 percent OPEC compliance is being balanced by ever...

  • TOKYO, Feb 20- Oil prices rose on Monday, but gains were minimal as investors gauged whether an increase in U.S. drilling and record stockpiles would undermine efforts by producers to cut output and bring the market into balance. Brent futures were up 1 cent at $55.82 a barrel at 0050 GMT, while U.S. The Organization of the Petroleum Exporting Countries and other...

  • BAGHDAD— Iraq says new exploration has revealed an additional 10 billion barrels of oil, bringing its total proven reserves to 153 billion barrels. He says Iraq will ask the Organization of the Petroleum Exporting Countries to adopt the new figure. Iraq will remain the fourth largest OPEC member, after Venezuela, Saudi Arabia and Iran.

  • ULAANBAATAR, Mongolia— The Mongolian government and envoys from the International Monetary Fund said Sunday that they and other partners have agreed on terms for a more than $5 billion loan package to the north Asian country to help get its economy back on track. The Asian Development Bank, World Bank, Japan and South Korea are together expected to provide up to...

  • Promises "unwavering" commitment to NATO. Vice President Mike Pence on Saturday brought a message of support for Europe from Donald Trump but failed to wholly reassure allies worried about the new president's stance on Russia and the European Union. Trump's contradictory remarks on the value of the North Atlantic Treaty Organisation, scepticism of the 2015...

  • MUNICH, Feb 18- Vice President Mike Pence sought on Saturday to assure Europe that the United States will back NATO even as it looks for new ways to cooperate with Russia, but was greeted by muted applause by European allies unnerved by President Donald Trump. In Pence's first major foreign policy address for the new Trump administration, the vice president told...

  • Vice President Mike Pence on Saturday sought to assure allies that the Trump administration will back NATO and stand with Europe even as it looks for new ways to cooperate with Russia. In the first major foreign policy address for the new administration of President Donald Trump, Pence warned allies that they must pay their fair share to support NATO, noting...

  • PENCE SAYS FAILURE OF COUNTRIES TO CONTRIBUTE THEIR FAIR SHARE TO NATO "ERODES THE FOUNDATION OF OUR ALLIANCE".

  • MUNICH- VICE PRESIDENT PENCE SAYS BRINGS ASSURANCE THAT U.S.

  • Globally, the Organization of the Petroleum Exporting Countries and other producers, including Russia, agreed to cut output almost 1.8 million barrels per day during the first half of 2017.. Estimates suggest compliance by OPEC is around 90 percent, and Reuters reported on Thursday that OPEC could extend the pact or apply deeper cuts from July if global crude...

  • U.S. energy companies added oil rigs for a fifth straight week, Baker Hughes said, extending a nine-month recovery as drillers take advantage of crude prices that have held mostly over $50 a barrel since OPEC agreed to cut supplies in late November. Estimates suggest compliance by OPEC is around 90 percent, and Reuters reported on Thursday that OPEC could extend...

  • U.S. energy companies added oil rigs for a fifth straight week, Baker Hughes said, extending a nine-month recovery as drillers take advantage of crude prices that have held mostly over $50 a barrel since OPEC agreed to cut supplies in late November. Estimates suggest compliance by OPEC is around 90 percent, and Reuters reported on Thursday that OPEC could extend...

  • *IMF's position on Greece has not changed, spokesman says. WASHINGTON/ BERLIN, Feb 17- The International Monetary Fund declined to comment on a media report on Friday that it was likely to contribute up to 5 billion euros to a third bailout package for Greece, saying its views on the deal had not shifted. Germany's government, gearing up for what is forecast to be a...

  • Feb 17- U.S. energy companies added oil rigs for a fifth straight week, extending a nine-month recovery as drillers take advantage of crude prices that have held mostly over $50 a barrel since OPEC agreed to cut supplies in late November. RIG-OL-USA- BHI> During the same week a year ago, there were 413 active oil rigs. Baker Hughes oil rig count plunged from a record...

  • *Demand growth falters in China, India. Estimates suggest compliance by OPEC is around 90 percent, and Reuters reported on Thursday that OPEC could extend the pact or even apply deeper cuts from July if global crude inventories fail to drop to a targeted level. "It's encouraging that it may not be a six-month deal but one of the issues is if you look at OPEC and other...

  • *Demand growth falters in China, India. Both appeared on track for losses on the week, though prices had moved higher earlier in the session in response to news that producer group OPEC could extend an output cut aimed at reining in a global supply overhang. The Organization of the Petroleum Exporting Countries and other producers, including Russia, agreed to cut...

  • BERLIN, Feb 17- The International Monetary Fund is likely to contribute up to 5 billion euros to the third bailout package for Greece, German magazine Der Spiegel said in an unsourced report published on Friday. Earlier on Friday, a German Finance Ministry spokeswoman said Berlin considered it essential that the IMF participate. The Spiegel report said the IMF...

  • *Demand growth falters in China, India. Both appeared on track for losses on the week, though prices had moved higher earlier in the session in response to news that producer group OPEC could extend an output cut aimed at reining in a global supply overhang. The Organization of the Petroleum Exporting Countries and other producers, including Russia, plan to cut...

  • *Oil from Nigeria, Libya and Kazakhstan gives a boost. LONDON, Feb 17- A global deal to cut oil production has had the unintended consequence of aiding Europe's older refineries by bolstering supplies of light crude while curbing shipments of the heavier grades favored by more advanced plants in other continents. "European refiners are well positioned versus...

  • STOCKHOLM— Sweden has a tough-love message for Britain as it prepares to trigger its European Union exit: A deal within two years is unlikely, striking a good agreement will be a struggle and the U.K. will have to pay a big bill before it is allowed out the door. Prime Minister Stefan Lofven says it will be "very tough" to seal a deal between Britain and the 27- nation bloc...