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World Economy International Organizations

  • *OPEC, other producers extend production cut to March 2018. LONDON, May 26- Oil prices edged higher on Friday as some investors were tempted back to a market that tumbled five percent in the previous session on disappointment that an OPEC- led decision to extend current production curbs did not go deeper. At Thursday's meeting in Vienna, the Organization of the...

  • *OPEC, allies extend production cuts through March 2018. SINGAPORE, May 26- The OPEC- led decision to extend a production cut to March 2018 disappointed financial investors, prompting an exit from oil futures markets, while refiners in Asia were mostly concerned with whether it meant they would need to go hunting for crude. "This is a declaration of a strong will of...

  • Oil prices edged up but markets remained on the back foot following a 5 percent slump in the previous session after an extension of output curbs by OPEC and other producing nations left investors hoping for bigger cuts disappointed. Gold has just moved sideways in the $1,245- $1,265 range over the past few sessions, said Brian Lan, managing director at gold...

  • *Crude recovers after OPEC disappointment. LONDON, May 26- Battered oil prices recovered some ground on Friday as investors looked past disappointment that an OPEC meeting did not produce bigger supply cuts, while sterling slid on a poll showing the ruling Conservatives' lead shrinking, two weeks before an election. European stock markets opened down as...

  • May 26- Hong Kong stocks broke a five-day winning streak on Friday, as gains in air carriers were offset by weakness in energy shares following a tumble in oil prices. Hong Kong- listed airline stocks rose sharply on expectations that a slide in oil prices would reduce carriers' fuel cost. Crude oil skidded 5 percent after OPEC and allied producers announced...

  • BEIJING/ SINGAPORE, May 26- As OPEC extends production cuts in a bid to tighten the oil market, China's independent refiners- awash with crude and facing disappointing local demand- are poised to slow purchases of oil for at least the next two months. The move by China's so-called "teapots", a key driver of the country's crude appetite, will stir concerns about demand...

  • *OPEC, other producers extend production cut to March 2018. SINGAPORE, May 26- Oil prices edged up on Friday but markets remained on the back foot after tumbling in the previous session when OPEC and allied producers extended output cuts but disappointed investors betting on longer or larger curbs. At Thursday's meeting in Vienna, the Organization of the...

  • TOKYO, May 26- Japan's Nikkei share average extended losses as the yen's gains against the dollar accelerated on Friday, though the benchmark index still managed to cap off a winning week. Oil and mining shares fell, after oil prices skidded 5 percent on Thursday and continued to drop on Friday, after a meeting of OPEC countries disappointed some investors who had...

  • *Crude futures tumble after OPEC fails to deepen cuts. SINGAPORE, May 26- Oil prices weakened on Friday, prompting a move away from riskier assets and depressing Asian stocks, after an OPEC agreement to extend cuts in crude production for a further nine months disappointed investors who had bet on bigger output cuts. European stock markets look set for a muted...

  • *OPEC, other producers extend production cut to March 2018. SINGAPORE, May 26- Oil extended falls on Friday after tumbling in the previous session when OPEC and allied producers extended output cuts but disappointed investors betting on longer or larger supply curbs. At Thursday's meeting in Vienna, the Organization of the Petroleum Exporting Countries and...

  • *Spot gold could test resistance at $1,264 per ounce- technicals. May 26- Gold prices held steady after dipping slightly earlier in the session on Friday as Asian stocks eased following an extension of output curbs by OPEC and other producing nations that left investors hoping for bigger cuts disappointed. Spot gold was up 0.1 percent at $1,257.01 per ounce U.S....

  • *OPEC, other producers extend production cut to March 2018. SINGAPORE, May 26- Oil extended falls on Friday after tumbling in the previous session when OPEC and allied producers extended output cuts but disappointed investors betting on longer or larger supply curbs. At Thursday's meeting in Vienna, the Organization of the Petroleum Exporting Countries and...

  • *Asia stocks slip despite Wall Street scaling new highs. SINGAPORE, May 26- Crude prices were on the defensive on Friday after an agreement by OPEC to extend existing supply curbs disappointed investors wagering on larger cuts, prompting a move away from riskier assets and depressing Asian stocks. The Organization of Petroleum Exporting Countries and some non-...

  • SYDNEY, May 26- U.S. soybeans edged lower to hit a six-week low on Friday as weak oil prices were set to pressure the oilseed, which is used to make ethanol, towards a third straight weekly decline. *Commodity currencies got off to a shaky start on Friday, having tracked oil prices lower, after a meeting of OPEC countries disappointed some investors who had hoped for...

  • *OPEC, other producers extend production cut to March 2018. SINGAPORE, May 26- Oil markets remained weak on Friday after tumbling in the previous session when OPEC and allied producers extended output cuts but disappointed investors betting on longer or larger supply curbs. At Thursday's meeting in Vienna, the Organization of the Petroleum Exporting...

  • May 26- Gold edged lower early Friday as the dollar steadied due to weakness in commodity currencies after an extension of output curbs by OPEC and other producing nations left investors hoping for bigger cuts disappointed. *Spot gold was down 0.2 percent at $1,253.10 per ounce by 0110 GMT. *OPEC and non-members led by Russia decided on Thursday to extend cuts in...

  • SINGAPORE, May 26- Commodity currencies got off to a shaky start on Friday, having tracked oil prices lower, after a meeting of OPEC countries disappointed some investors who had hoped for larger production cuts. Sterling slipped after an opinion poll showed that Britain's opposition Labour Party has cut the lead of Prime Minister Theresa May's Conservatives...

  • *Asia stocks slip despite Wall Street scaling new highs. SINGAPORE, May 26- Crude prices remained subdued early on Friday after an agreement by OPEC to extend existing supply curbs disappointed many who had hoped for larger cuts. The Organization of Petroleum Exporting Countries and some non- OPEC producers agreed at a meeting in Vienna on Thursday to extend...

  • COCHASQUI, Ecuador, May 25- Ecuador's new leftist president, Lenin Moreno, said on Thursday he had reached out to the World Bank- an organization scorned by his predecessor- in a bid for financing that could help him fund ambitious social programs. "We've started to reach out to the World Bank, it's an excellent source of financing," said Moreno, who was sworn in on...

  • TORONTO, May 25- Canada's main stock index dipped on Thursday as a plunge in oil prices weighed on energy shares, offsetting gains for industrials and financials after quarterly earnings from some major banks impressed investors. U.S. crude prices settled $2.46 lower at $48.90 a barrel after the Organization of the Petroleum Exporting Countries' decision to...