×

World Economy International Organizations

  • BEIJING, June 29- Global coordination is important as the world economy undergoes changes, including the latest increase in U.S. interest rates earlier this month, China's Vice Finance Minister Zhu Guangyao said ahead of a G20 summit of leaders in July. As the global economy stabilises, major countries need to normalise their interest rates, although this is...

  • "The fast ramp-up in shale drilling and the unexpectedly large rebound in Libya/ Nigeria production are on track to slow the 2017 stock draws," investment bank Goldman Sachs said. "This creates risks that the normalisation in inventories will not be achieved by the time the OPEC cut ends next March. We expect this will leave prices trading near $45 until there is...

  • *Vitol expects crude at $40- $55 a barrel next few quarters. *OPEC in no rush to extend/increase supply cuts beyond March 2018. "The most interesting thing is crude oil production was down... which is a significant decline given the increases in previous weeks," Andrew Lipow, president of Lipow Oil Associates in Houston, said.

  • *Vitol expects crude at $40- $55 a barrel next few quarters. *OPEC in no rush to extend/increase supply cuts beyond March 2018. "The most interesting thing is crude oil production was down... which is a significant decline given the increases in previous weeks," Andrew Lipow, president of Lipow Oil Associates in Houston, said.

  • NEW YORK, June 28- The head of the largest U.S. railroad said on Wednesday that based on conversations with officials from President Donald Trump's administration including Commerce Secretary Wilbur Ross, he is confident upcoming talks will result in a "more effective" North American Free Trade Agreement. Renegotiation of NAFTA was a key campaign promise of...

  • BRUSSELS, June 28- The European Union will have to change the way it collects and spends its funds to cope with Britain's leaving and with other challenges, the European Commission said on Wednesday. Britain contributes around 16 percent to the overall EU budget, or 10 billion to 11 billion euros annually, so its exit in March 2019 will create a financing gap that...

  • *Vitol expects crude at $40- $55 a barrel next few quarters. *OPEC in no rush to extend/increase supply cuts beyond March 2018. "Most interesting thing is crude oil production was down... which is a significant decline given the increases in previous weeks," Andrew Lipow, president of Lipow Oil Associates in Houston, said.

  • LONDON, June 28- The 1980 s film WarGames contains an important lesson for OPEC and shale producers about the futility of trying to manage the oil market. In the film, the U.S. Air Force's new war-planning computer, which displays an early form of artificial intelligence called Joshua, runs simulations for global thermonuclear war, trying to find a way to win.

  • *Value of OPEC output up 10 pct in 2017- Reuters figures. OPEC plus Russia and other non- OPEC producers agreed on May 25 to extend supply cuts to March, after an initial deal to keep them in place for the first half of 2017.. "I expect the gains for OPEC to be higher during the second semester 2017 due to a tight market in the third and fourth quarter, despite an oversupply...

  • ACCRA, June 28- Ghana's government has asked the International Monetary Fund to push back the end date of its $918 million aid programme from April 2018 to December 2018, IMF and government sources told Reuters on Wednesday. An extension would further reassure investors that the government of President Nana Akufo-Addo that took office in January is serious...

  • *Next round of talks with EU nations due July 10. BRUSSELS, June 28- European Union nations and the European Parliament remain divided on how to reform the EU carbon market and whether it should mention aviation and shipping, EU sources said on Wednesday. In talks this week- the first held with British deputy Julie Girling, who took over as parliament's lead...

  • The sanctions were imposed in July 2014 following Russia's annexation of Ukraine's Black Sea peninsula and Moscow's direct support for separatists in eastern Ukraine. EU leaders agreed to the extension at their summit in Brussels last week, after France and Germany cited no progress in efforts to negotiate an end to the conflict in eastern Ukraine that has...

  • ACCRA, June 28- Ghana's government has asked the International Monetary Fund to push back the end date of its $918 million aid programme from April 2018 to December 2018, IMF and government sources told Reuters on Wednesday. Any extension would further reassure investors that the new government of President Nana Akufo-Addo, which took power in January, is...

  • *Vitol expects crude at $40- $55 a barrel next few quarters. The U.S. inventory gains show global supplies are still ample despite the effort by the Organization of the Petroleum Exporting Countries to cut output by 1.8 million barrels per day between January 2017 and March 2018. Ian Taylor, head of the world's largest independent oil trader Vitol, says Brent crude...

  • *Vitol expects crude at $40- $55 a barrel next few quarters. The U.S. inventory gains show global supplies are still ample despite the effort by the Organization of the Petroleum Exporting Countries to cut output by 1.8 million barrels per day between January 2017 and March 2018. Ian Taylor, head of the world's largest independent oil trader Vitol, says Brent crude...

  • Brent crude futures were at $46.32 per barrel at 0012 GMT, down 33 cents, or 0.7 percent, from their last close. The price falls come despite an ongoing effort by the Organization of the Petroleum Exporting Countries to cut production by 1.8 million barrels per day between January 2017 and March 2018. Ian Taylor, head of the world's largest independent oil trader...

  • *Loonie touches its strongest since February 27 at C $1.3148. Prices of oil, one of Canada's major exports, hit a one-week high on the back of a weaker greenback, short covering and expectations that crude inventories may decline. The International Monetary Fund also cut its growth forecasts for the U.S. economy citing uncertainty over President Donald Trump's...

  • *U.S. shale CEO sees Saudi Arabia moving to lift oil prices. *OPEC to consider options at July meeting in Russia. NEW YORK, June 27- Oil prices rose nearly 2 percent and hit a one-week high on Tuesday, boosted by a weaker dollar, short covering and expectations that crude inventories in the United States may decline for a third consecutive week.

  • June 27- U.S. shale oil producers plan to keep drilling new wells despite this month's crude price drop but expect to revisit spending should pricing remain below $45 a barrel for several months. Pioneer, one of the biggest operators in the Permian Basin, the largest U.S. oilfield, is confident that OPEC leader Saudi Arabia will not let oil prices remain near...

  • *U.S. shale CEO sees Saudi Arabia moving to lift oil prices. *OPEC to consider options at July meeting in Russia. NEW YORK, June 27- Oil prices rose nearly 2 percent and hit a one-week high on Tuesday, boosted by a weaker dollar, short covering and expectations that crude inventories in the United States may decline for a third consecutive week.