×

World Economy International Organizations

  • *Saudi Arabia says will "do whatever it takes" to balance markets. SINGAPORE, May 9- Oil prices gave up earlier gains on Tuesday, as concerns over slowing demand and a relentless rise in U.S. crude output undermined the impact of hopes that OPEC- led production cuts could be extended. U.S. crude production has risen by over 10 percent since mid-2016 to 9.3 million bpd,...

  • BEIJING, May 9- China's Commerce Ministry says it has extended anti-dumping tariffs on chloroprene rubber from Japan, the United States and European Union for five years.

  • *Asia to face demographic tax, not dividends- IMF. *Asia demographics to subtract from global growth. TOKYO, May 9- The International Monetary Fund called on Asian economies to learn from Japan's experience and act early to cope with rapidly ageing populations, warning that parts of the region risk "getting old before becoming rich."

  • *Asia to face demographic tax, not dividends- IMF. *Asia demographics to subtract from global growth. TOKYO, May 9- The International Monetary Fund called on Asian economies to learn from Japan's experience and act early to cope with rapidly aging populations, warning that parts of the region risk "getting old before becoming rich."

  • *Relentless rise in U.S. oil output undermines OPEC- led efforts. SINGAPORE, May 9- Oil prices edged up on Tuesday, driven by anticipation that an OPEC- led pledge to cut production would be extended beyond the first half of the year and into 2018, although overall high supply still weighed on markets. The higher prices were a result of top exporter and de facto OPEC...

  • President Donald Trump seeks to renegotiate the North American Free Trade Agreement pact with Mexico and Canada and build a wall on the U.S.-Mexican border and have Mexico pay for it. Mexico and the United States last week extended a deadline to June 5 to reach an agreement on how much Mexican refined and crude sugar can enter the United States.

  • *OPEC output cut extension likely- Saudi energy minister. NEW YORK, May 8- Oil prices rose on Monday in volatile trading, bolstered by statements from major oil-producing countries suggesting that OPEC and non- OPEC supply cuts could be extended into 2018.. The Organization of the Petroleum Exporting Countries and non- OPEC producers, such as Russia, decided late...

  • *OPEC output cut extension likely, says Saudi energy minister. NEW YORK, May 8- Oil prices edged down in a volatile trade on Monday despite Saudi Arabia's oil minister saying that he expected OPEC and its partners to consider extending their deal to cut supply possibly into next year to end a global glut. Growing U.S. drilling and production have played a role in...

  • *OPEC, others originally agreed to cut in first half of 2017. But global inventories remain high, pulling crude back below $50 per barrel and putting pressure on OPEC to extend the cuts to the rest of the year. Falih said recent price falls had been caused by seasonal low demand and refinery maintenance, as well as by non- OPEC production growth, especially in the...

  • The Organization of the Petroleum Exporting Countries, of which Saudi Arabia is the de-facto leader, and other producers including Russia pledged to cut output by 1.8 million barrels per day in the first half of the year to boost the market. But global inventories remain high, pulling crude oil prices back below $50 per barrel and putting pressure on OPEC to...

  • *OPEC output cut extension likely, says Saudi energy minister. LONDON, May 8- Oil rose on Monday, reversing earlier losses, after sources said OPEC and its partners were considering extending their existing supply deal possibly into next year, which helped offset the bearish impact of more increases in U.S. crude output. Industry sources and sources in OPEC said...

  • *Canadian dollar at C $1.3691, or 73.04 U.S. cents. TORONTO, May 8- The Canadian dollar weakened on Monday against its U.S. counterpart, paring some of Friday's gains as weaker-than-expected Chinese trade data reinvigorated a recent selloff in metals, offsetting higher oil prices. barrel as news that Organization of the Petroleum Exporting Countries and other...

  • DUBAI/ LONDON, May 8- OPEC and non-member oil producers are considering extending a global supply cut for nine months or more to avoid a price-sapping output increase in the first quarter of next year, when demand is expected to be weak, OPEC and industry sources said. Oil prices have gained support but global inventories remain high, pulling crude back below $50 a...

  • *OPEC output cut extension likely, says Saudi energy minister. LONDON, May 8- Oil prices slipped on Monday, reversing gains made earlier in the session as evidence of rising U.S. drilling offset news that OPEC and other producers may extend their production cuts. The OPEC- led efforts to reduce bulging global oil inventories have been undermined by a surge in...

  • While OPEC and its allies appear to have been relatively successful in implementing their planned output cuts of 1.8 million barrels per day, this has yet to show up in a meaningful way in the amount of crude oil being transported by ships. The seeming easy availability of crude despite the output cuts helped drive crude prices lower, with Brent dropping as low as...

  • LONDON, May 8- Saudi Arabias energy minister has indicated OPEC will extend its current production cuts for at least another six months to the end of 2017 and maybe further. OPECs original agreement on revised production levels was reached on Nov. 30 last year and always subject to review in the normal way at the organisations next scheduled ministerial...

  • NEW YORK, May 8- The energy industry scrutinizes U.S. oil stockpile data every week for evidence that OPEC supply cuts are ending a global crude glut, but growing domestic output means the world's largest oil consumer may be the last place to feel the cuts. Stubbornly high U.S. inventory levels have shaken market confidence that a deal by the Organization of the...

  • *OPEC output cut extension likely, says Saudi energy minister. LONDON, May 8- Oil prices gave up early gains on Monday, as the market weighed news from OPEC and other producers about prolonging output cuts against data showing the recovery in U.S. drilling had extended for a year. But the OPEC- led efforts to reduce bulging global oil inventories have been undermined...

  • Saudi Energy Minister Khalid al-Falih said on Monday he was confident that OPEC and non- OPEC producers would extend cuts into the second half of the year and "possibly beyond". The Organization of the Petroleum Exporting Countries and other producers including Russia pledged to cut output by 1.8 million barrels per day during the first half of this year to prop...

  • KUALA LUMPUR, May 8- Saudi Arabia's energy minister Khalid Al-Falih said on Monday that oil markets were rebalancing after years of oversupply, but that he still expected an OPEC- led deal to cut output during the first half of the year to be extended to all of 2017.. The Organization of the Petroleum Exporting Countries, of which Saudi Arabia is the de-facto leader,...