World Economy International Organizations

  • SINGAPORE, Dec 15- Oil prices stabilized on Thursday as a tighter market looms in 2017 due to planned output cuts led by OPEC and Russia, after sharp declines earlier following Wednesday's U.S. interest rate increase that drove investors out of commodities. ANZ bank said on Thursday that oil markets would move into a substantial deficit in the first quarter of...

  • SINGAPORE, Dec 15- Oil prices stabilized on Thursday as a tighter market looms in 2017 due to planned output cuts led by OPEC and Russia, after sharp declines earlier following Wednesday's U.S. interest rate increase that drove investors out of commodities. International Brent crude oil futures were trading at $54.02 a barrel at 0428 GMT, up 12 cents from their...

  • SINGAPORE, Dec 15- Oil prices stabilized on Thursday as a tighter market looms in 2017 due to planned output cuts led by OPEC and Russia, after sharp declines earlier following Wednesday's U.S. interest rate increase that drove investors out of commodities. International Brent crude oil futures were trading at $54.02 a barrel at 0428 GMT, up 12 cents from their...

  • SINGAPORE, Dec 15- Oil prices dropped on Thursday as a hike in U.S. interest rates drove money away from commodities and into U.S. bonds and the dollar, but a tighter fuel market looms in 2017 due to planned production cuts led by OPEC and Russia. West Texas Intermediate crude oil futures were trading at $50.87 per barrel at 0235 GMT, down 17 cents from their last...

  • That threat, combined with various other pledges by Trump to battle Mexico over trade, investment, and jobs have pushed a growing number of companies operating in Mexico to put expansion plans on hold until Trump fleshes out his policies. "We have estimated that if NAFTA were eliminated in its totality- taking into account second-order effects- the GDP fall could...

  • *OPEC points to larger 2017 surplus unless cuts adopted. *Russia says cuts will be voluntary for each company. Brent crude futures settled at $53.90 per barrel, down $1.82, or 3.27 percent after falling as low as $53.80.

  • *OPEC points to larger 2017 surplus unless cuts adopted. *Russia says cuts will be voluntary for each company. NEW YORK, Dec 14- Oil prices fell about 2 percent on Wednesday on renewed concerns about an oil glut sparked by a jump in crude inventories at a core U.S. storage center and OPEC forecasts of a rising surplus absent output cuts.

  • *OPEC points to larger 2017 surplus unless cuts adopted. *Russia says cuts will be voluntary for each company. NEW YORK, Dec 14- Oil prices fell about 1 percent on Wednesday on renewed concerns about an oil glut sparked by rising U.S. crude inventories in storage and OPEC saying output cuts must be implemented to avoid the prospect of a growing surplus.

  • LONDON, Dec 14- If Prime Minister Theresa May has a detailed Brexit plan, it is very secret. Since the June 23 referendum, May has been clear only that the United Kingdom will leave the European Union and that she will formally trigger exit talks by the end of March 2017. "It is absolutely right that we do not set out at this stage every single detail of our proposed...

  • *Russia agreed to reduce oil output by 300,000 bpd. Russia as well as other non- OPEC and OPEC producers have agreed to slash output by almost 1.8 million bpd to fight global oversupply, which has hammered the price of oil, the chief commodity export for Moscow and some other developing countries. This is the first such deal between the Organization of the Petroleum...

  • *OPEC points to larger 2017 surplus unless cuts adopted. NEW YORK/ LONDON, Dec 14- Oil prices fell about 2 percent on Wednesday as glut worries resurfaced after a reported rise in U.S. crude inventories and as OPEC signaled a growing crude surplus next year unless production cuts by the world's top exporters are implemented. "The crude supply surge was led by another...

  • LONDON, Dec 14- Brexit minister David Davis said on Wednesday he was optimistic that the European Union would be helpful in the government's quest not to have a "hard border" between Northern Ireland and the Republic of Ireland. "I'm optimistic that the European Union will be helpful to us on this. Michel Barnier, who's an old sparring partner of mine, is also very...

  • LONDON, Dec 14- Brexit minister David Davis said on Wednesday the British government was keeping its options open before beginning talks with the European Union over its divorce. Asked whether he stood by his earlier statement that Britain could consider paying into the EU budget to maintain preferential trade access into the single market, Davis said those...

  • ABUJA, Dec 14- Nigeria's President Muhammadu Buhari told lawmakers in his 2017 budget presentation on Wednesday that he wants to restore oil output to 2.2 million barrels per day. A series of attacks since January on energy facilities in the southern Niger Delta cut oil production in the OPEC member, which stood at around 2.1 million barrels per day at the start...

  • *OPEC points to larger 2017 surplus unless cuts adopted. LONDON, Dec 14- Oil prices fell on Wednesday following a reported rise in U.S. crude inventories and as OPEC signaled a growing crude surplus next year unless production cuts are implemented. International Brent crude futures were down 82 cents at $54.90 per barrel at 1334 GMT, while U.S.

  • LONDON, Dec 14- If Prime Minister Theresa May has a detailed Brexit plan, it is very secret. Since the June 23 referendum, May has been clear only that the United Kingdom will leave the European Union and that she will formally trigger exit talks by the end of March 2017. Britons' vote to leave the bloc has opened a huge number of questions including whether exporters...

  • *OPEC crude output hits record high in November. The Organization of the Petroleum Exporting Countries pumped 33.87 million barrels per day last month, according to figures OPEC collects from secondary sources, up 150,000 bpd from October, OPEC said in a monthly report. The non- OPEC cuts should help to "accelerate the reduction of global inventories and bring...

  • *IEA thinks OPEC produced more than it said in November. LONDON, Dec 14- Oil prices fell on Wednesday following a reported rise in U.S. crude inventories and an estimate that OPEC may have produced more crude in November than previously thought, potentially undermining a planned output cut. International Brent crude futures were down 58 cents at $55.14 per barrel...

  • *IEA thinks OPEC produced more than it said in November. SINGAPORE, Dec 14- Oil prices fell on Wednesday following a reported rise in U.S. crude inventories and an estimate that OPEC may have produced more crude in November than previously thought, potentially undermining a planned output cut. "Momentum continues to wane in oil markets with both Brent and WTI...

  • MIJAS, Spain, Dec 14- British pensioner Judy Swatridge's spine is held together by titanium pins and plates since breaking her back over 10 years ago. The 75- year-old is one of tens of thousands of British retirees in Spain worried that they might lose their free access to Spanish health care, currently assured by European Union law, as a result of Britain's exit...