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World Economy International Organizations

  • BRUSSELS, May 17- U.S. and European Union officials will meet next week in Washington D.C. to further discuss risks to air travel and solutions for protecting passengers, the European Commission said on Wednesday after the two sides met in Brussels.

  • *Prospects of OPEC- led supply cut deal extension supports prices. New York, May 17- Oil prices rose on Wednesday after U.S. government data showed a decline in domestic crude inventories and strong refining activity in the world's largest oil consumer, ahead of next week's meeting of major oil producers. Brent crude rose 87 cents and stood at $52.52 per barrel by...

  • *Prospects of OPEC- led supply cut deal extension supports prices. LONDON, May 17- Oil prices strengthened on Wednesday ahead of U.S. crude inventory data that could give investors a clue as to whether an OPEC- led output cut is making progress in reducing a persistent global supply overhang. Brent reached $52.63 a barrel and WTI rose as high as $49.66 on Monday after...

  • BERLIN— A future cap on immigration by European Union citizens to Britain would come at a price for the U.K.' s relations with the EU, German Chancellor Angela Merkel said Wednesday. Britain and the EU are preparing for negotiations on Britain's departure, which Prime Minister Theresa May formally triggered in late March but will start in earnest after a British...

  • *Prospects of OPEC- led supply cut deal extension supports prices. LONDON, May 17- Oil prices strengthened on Wednesday ahead of U.S. crude inventory data that could give investors a clue as to whether an OPEC- led output cut is making progress in reducing a persistent global supply overhang. Brent reached $52.63 a barrel and WTI rose as high as $49.66 on Monday after...

  • BRUSSELS/ ROME, May 17- The European Commission launched legal action against Italy on Wednesday for failing to respond to allegations of emission-test cheating by Fiat Chrysler, in a procedure that could lead to the country being taken to court. Italy had asked the European Union to postpone its plan to launch legal action against Rome over emissions at Fiat...

  • *Rising North Sea, U.S. production undermines OPEC- led cuts. LONDON, May 17- Oil prices strengthened on Wednesday ahead of U.S. crude inventory data that could give investors a clue as to whether an OPEC- led output cut is making progress in reducing the persistent global supply overhang. Brent reached $52.63 a barrel and WTI rose as high as $49.66 on Monday after...

  • BRUSSELS— The European Union is loosening rules on state aid to simplify government investments in airports and ports. EU rules require governments to notify the bloc's executive Commission in advance of many public investment plans, to ensure they don't distort competition. Member countries will be allowed to invest up to 150 million euros in sea ports and...

  • LONDON, May 17- Reported oil stocks have fallen much more slowly than OPEC anticipated at the beginning of the year, leading to scepticism about the effectiveness of the organisation's production cuts. But the sluggish response may reflect the repositioning of formerly uncounted stocks to more visible locations rather than a failure to adjust the...

  • LONDON, May 17- Reported oil stocks have fallen much more slowly than OPEC anticipated at the beginning of the year, leading to skepticism about the effectiveness of the organization's production cuts. But the sluggish response may reflect the repositioning of formerly uncounted stocks to more visible locations rather than a failure to adjust the...

  • *Rising North Sea, U.S. production undermines OPEC- led cuts. LONDON, May 17- Oil prices fell on Wednesday after industry data showed a surprise increase in U.S. crude inventories despite OPEC- led output cuts that Saudi Arabia and Russia want extended. Brent crude was down 15 cents at $51.50 per barrel by 0851 GMT.

  • They tell the story of the U.S. shale resurgence and the quandary it poses for OPEC as it struggles to tame a global glut. Surging U.S. production has stalled OPEC's effort to cut supply. The Permian boom will be high on the agenda as OPEC oil ministers begin gathering in Vienna ahead of a May 25 policy meeting to decide whether to extend output cuts.

  • *Rising North Sea, U.S. production undermines OPEC- led cuts. SINGAPORE, May 17- Oil prices fell on Wednesday after data showed an increase in U.S. crude inventories, stoking concerns that markets remain oversupplied despite efforts by top producers Saudi Arabia and Russia to extend output cuts. Brent reached $52.63 a barrel on Monday and WTI rose as high as $49.66 a...

  • *Rising North Sea, U.S. production undermines OPEC- led cuts. SINGAPORE, May 17- Oil prices fell 1 percent on Wednesday after data showed an increase in U.S. crude inventories, stoking concerns that markets remain oversupplied despite efforts by top producers Saudi Arabia and Russia to extend output cuts. The fall in prices came just days after Saudi Arabia and...

  • President Donald Trump's administration to tell Congress early next week of plans to renegotiate the North American Free Trade Agreement, a move that would produce talks by late August. "Probably the notification will be sent to Congress by the U.S. executive at some time early next week," Guajardo told Mexican media on Tuesday a day after meetings in Washington...

  • WASHINGTON, May 16- The Trump administration's top trade officials hope to keep the North American Free Trade Agreement as a trilateral deal in negotiations with Canada and Mexico to revamp the 23- year-old pact, senators said on Tuesday. Trade Representative Robert Lighthizer told them in a closed door meeting that they would prefer the current...

  • *Kuwait says it supports Saudi/Russian push to extend curbs. NEW YORK, May 16- Oil prices settled little changed on Tuesday after several OPEC members voiced support for prolonging supply cuts through March 2018 to reduce a global crude glut. The market will watch to see whether the build reported by the API is confirmed by official U.S. Energy Information...

  • Senator Charles Grassley said on Tuesday that he believes the Trump administration will likely pursue a trilateral trade deal with Canada and Mexico as it renegotiates the North American Free Trade Agreement. Speaking to reporters after leaving a Senate Finance Committee meeting with new U.S. Trade Representative Robert Lighthizer, Grassley, a...

  • BRUSSELS, May 16- The European Union will launch legal action against Italy on Wednesday for failing to police allegations of emissions-test cheating by Fiat Chrysler properly following the Volkswagen dieselgate scandal, EU sources said. EU regulators say Italy has failed to convince them that the so-called defeat devices used to modulate emissions on its...

  • President Donald Trump's administration to tell Congress early next week of plans to renegotiate the North American Free Trade Agreement, a move that would produce talks by late August. During the 2016 U.S. election campaign, Trump vowed to scrap the 1994 deal between the United States, Canada and Mexico if he cannot adjust it to benefit U.S. interests.