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World Economy International Organizations

  • 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.

  • *Kuwait says it supports Saudi/Russian push to extend curbs. NEW YORK, May 16- Oil prices were little changed on Tuesday as the market awaited weekly U.S. inventory figures and as Kuwait and other OPEC members joined top producers Saudi Arabia and Russia in support of prolonging supply cuts through March 2018 to reduce a global crude glut. Members of the...

  • MEXICO CITY, May 16- Mexican Economy Minister Ildefonso Guajardo said on Tuesday he expects the administration of U.S. The move, which will start a 90- day countdown for talks, would be a step towards fulfilling a campaign promise by Trump who vowed to scrap the 1994 deal between the United States, Canada and Mexico if he cannot adjust it to benefit U.S. interests.

  • MEXICO CITY, May 16- Mexican Economy Minister Ildefonso Guajardo said on Tuesday he expects the administration of U.S.

  • BAGHDAD, May 16- Iraq is committed to reducing oil production to decrease a glut in the global market, and will support extending output cuts in line with any OPEC decision, Prime Minister Haider al-Abadi said on Tuesday. The Organization of the Petroleum Exporting Countries meets in Vienna on May 25 to consider whether to extend output cuts agreed in December...

  • BAGHDAD, May 16- Iraq is committed to reducing oil production to decrease a glut in the global market, and will support extending output cuts in line with any OPEC decision, Prime Minister Haider al-Abadi said on Tuesday. The Organization of the Petroleum Exporting Countries meets in Vienna on May 25 to consider whether to extend output cuts agreed in December...

  • MEXICO ECONOMY MINISTER SAYS EXPECTS TRUMP ADMINISTRATION TO NOTIFY CONGRESS AT THE BEGINNING OF NEXT WEEK OF PLAN TO OPEN NAFTA NEGOTATIONS.

  • NEW YORK, May 16- Oil prices were little changed on Tuesday as the market awaited direction from weekly U.S. inventory data and as Kuwait joined top producers Saudi Arabia and Russia in support of prolonging supply cuts through March 2018 to reduce a global crude glut. "We expect a rangebound trade today with prices largely confining to yesterdays parameters as...

  • CARACAS, May 16- Venezuela on Tuesday said it supported a nine-month extension of an agreement between OPEC and non- OPEC countries to limit crude production, hoping to achieve a "stabilization" of the oil market. The crisis-hit OPEC nation, which relies on oil for some 94 percent of its export revenue, has long fought for "fair" oil prices. "Venezuela believes that the...

  • LONDON/ DUBAI, May 16- A proposal to extend an OPEC and non- OPEC supply cut for nine months is a postive idea, sources familiar with Iranian thinking said, suggesting OPEC's third-largest producer is likely to go along with such a plan if there is a consensus. "This statement shows the commitment by OPEC and major non- OPEC oil producers to bringing stability to the oil...

  • COLOMBO, May 16- Sri Lanka has regained a lucrative EU trade concession it lost over concerns about human rights, mainly benefiting its garments export industry, but it will be subject to vigorous monitoring, the European Union said on Tuesday. The trade concession offered by the Generalised Scheme of Preferences Plus will provide immediate benefits worth in...

  • LONDON, May 16- The global oil market is rebalancing and the pace at which supply and demand are falling into line is picking up, even if inventories still fail to reflect the impact of OPEC supply cuts, the International Energy Agency said on Tuesday. "It has taken some time for stocks to reflect lower supply when volumes produced before output cuts by OPEC and 11 non-...

  • LONDON, May 16- The global oil market is rebalancing and the pace at which supply and demand are falling into line is picking up, even if inventories still fail to reflect the impact of OPEC supply cuts, the International Energy Agency said on Tuesday. "It has taken some time for stocks to reflect lower supply when volumes produced before output cuts by OPEC and 11 non-...

  • *Latest round of talks will continue- Mexico sugar chamber. MEXICO CITY, May 15- U.S. Ross and Mexican Economy Minister Ildefonso Guajardo agreed to continue "open dialogue" over the coming days, Mexico's economy ministry said in a statement, but it was unclear when the delegations would next meet.

  • MEXICO CITY, May 15- U.S. Trade Secretary Wilbur Ross and Mexican Economy Minister Ildefonso Guajardo met in Washington on Monday and discussed dates for renegotiating the North American Free Trade agreement, Mexico's economy ministry said in a statement. The ministry did not mention any dates discussed.

  • LONDON, May 15- Hedge funds had become increasingly bearish towards crude oil by the middle of last week, leaving them vulnerable to a short squeeze with OPEC's next meeting coming up on May 25. In fact, hedge fund positioning in crude is nearly identical to before the last OPEC meeting held on Nov. 29, which was followed by a fierce short-covering rally.