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World Economy International Organizations

  • HOUSTON, March 6- Russia and Iraq said on Monday it was too early to discuss an extension of a historic deal to curb oil output beyond June while cash-strapped Angola supported the move to boost oil prices. Members of the Organization of the Petroleum Exporting Countries including Iraq and non- OPEC countries such as Russia last year agreed to cut oil production...

  • LONDON, March 6- U.S. oil drilling activity has surged but so far the impact on production has been limited because of the long delay in completing wells and reporting output. The number of rigs drilling for oil has almost doubled since hitting a cyclical low at the end of May and is up by more than 50 percent compared with a year ago, according to oilfield services...

  • Concerns over rising U.S. shale oil output have been offsetting the impact of production cuts agreed by the Organisation of the Petroleum Exporting Countries and some non- OPEC members to curb a global crude oversupply. Russia and Iraq said on Monday it was too early to discuss if the pact by OPEC and non- OPEC members should be extended beyond May.

  • WELLINGTON, March 7- The International Monetary Fund said on Tuesday that rising levels of household debt are a risk to New Zealand's financial stability, while the country's central bank said it was considering increasing bank capital requirements. "With high household debt, you worry about the amplification of large external shocks," Thomas Helbling, the IMF...

  • *IEA sees OPEC expanding crude production by 1.95 million bpd by 2022. Iraq says ready to join potential OPEC output cuts in second half of 2017. NEW YORK, March 6- Benchmark Brent gained while U.S. crude eased slightly on Monday, after the market pushed higher early in the day on reports that Iraq would participate if OPEC extended oil production curbs into the...

  • HOUSTON, March 6- It is too soon for the world's top oil exporters to discuss extending a historic deal to curb output beyond June, oil ministers from Iraq and Russia said on Monday at the CERAWeek conference in Houston. Members of the Organization of the Petroleum Exporting Countries including Iraq and non- OPEC countries such as Russia last year agreed to cut oil...

  • WELLINGTON, March 7- The International Monetary Fund said on Tuesday that high levels of household debt remain a risk to New Zealand's financial stability. The IMF said that the Reserve Bank of New Zealand should be allowed to include debt-to-income limits in its toolkit, a measure the central bank has requested. "Household debt vulnerabilities are expected to...

  • *IEA sees OPEC expanding crude production by 1.95 million bpd by 2022. *Iraq says ready to join OPEC output cuts in second half of 2017. *China cuts economic growth target to 6.5 percent.

  • Non- OPEC producers such as Russia and Kazakhstan joined OPEC- led production cuts that have lifted global oil prices more than 10 percent since they were approved in November. Russia agreed to cut output by 300,000 barrels per day under the deal, and would reach that target by the end of April, he said in remarks translated from Russian. Russia expects oil prices to...

  • WASHINGTON, March 6- Trump administration trade adviser Peter Navarro said on Monday the $65 billion U.S. trade deficit with Germany was "one of the most difficult" trade issues, and bilateral discussions were needed to reduce it outside of European Union restrictions. Navarro said that Germany has too long used the argument that the EU dictates its trade policy...

  • RUSSIAN OIL MIN SAYS PREMATURE FOR OPEC, NON OPEC TO EXTEND DEAL TO CUT OUTPUT BEYOND JUNE.

  • HOUSTON, March 6- Oil majors have long been passive watchers of the pump war between OPEC and U.S. shale producers, but not any more. Even as prices hold near $50 per barrel, the firms- Royal Dutch Shell Plc, Exxon Mobil Corp, Chevron Corp, BP Plc, Total SA, Statoil ASA and Eni SpA- plan to grow output by a combined 15 percent in the next five years. It will reward businesses that...

  • *IEA sees OPEC expanding crude production by 1.95 million bpd by 2022. *Iraq says ready to join OPEC output cuts in second half of 2017. In a session driven by headlines, oil earlier strengthened slightly after Iraq's oil minister said the Organization of the Petroleum Exporting Countries would likely need to extend its production cuts into the second half of...

  • WASHINGTON, March 6- Trump administration trade adviser Peter Navarro said on Monday the $65 billion U.S. trade deficit with Germany was "one of the most difficult" trade issues, and bilateral discussions were needed to reduce it outside of European Union restrictions. Navarro, the director of the new White House National Trade Council, said that Germany has used...

  • *Iraq said to be ready to join OPEC output cuts in second half of 2017. NEW YORK, March 6- Oil prices reversed course on Monday, edging up after Iraq's oil minister said OPEC would likely need to extend its production cuts into the second half of 2017.. Iraq agreed to lower its production by 210,000 barrels per day under the deal but OPEC's second-largest producer had...

  • WASHINGTON, March 6- Trump administration trade adviser Peter Navarro said on Monday the $65 billion U.S. trade deficit with Germany was "one of the most difficult" trade issues, and bilateral discussions were needed to reduce it outside of European Union restrictions. Navarro, the director of the new White House National Trade Council, said at an economic...

  • LONDON, March 6- Oil majors have long been passive watchers of the pump war between OPEC and U.S. shale producers, but not any more. Even as prices hold near $50 per barrel, the firms- Royal Dutch/Shell, ExxonMobil, Chevron, BP, Total, Statoil and Eni- plan to grow output by a combined 15 percent in the next five years. It will reward businesses that can remain highly...

  • *China cuts economic growth target to 6.5 percent. LONDON, March 6- Oil prices softened on Monday as lower economic growth targets in China sparked renewed worries over excess supply, but escalating violence in North Africa underpinned the market. The news, along with concerns over Russia's compliance with a deal between OPEC and other producers to trim oil...

  • LONDON, March 6- U.S. oil drilling activity has surged but so far the impact on production has been limited because of the long delay in completing wells and reporting output. The number of rigs drilling for oil has almost doubled since hitting a cyclical low at the end of May and is up by more than 50 percent compared with a year ago, according to oilfield services...

  • *BIS report says politics starting to dominate markets. LONDON, March 6- Investors are focusing more on politics and have become more selective in what they buy, the Bank for International Settlements said on Monday in its latest signal that markets may be breaking free from a dependence on central bank support. "Politics tightened its grip over financial...