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World Economy International Organizations

  • *OPEC seen set to prolong oil output cuts. NEW YORK, May 23- Oil prices settled a bit higher on Tuesday as expectations of an extension to OPEC- led supply cuts overshadowed a White House proposal to sell half of U.S. petroleum reserves. OPEC and other producing countries including Russia have cut output about 1.8 million barrels per day in the first half of 2017..

  • *OPEC set to prolong oil cuts as delegates predict smooth meeting. NEW YORK, May 23- Oil prices inched up on Tuesday in volatile trading as expectations of an extension to OPEC- led supply cuts and another drop in U.S. crude inventories overshadowed a White House proposal to sell half the country's petroleum reserves. The Organization of the Petroleum Exporting...

  • *Deal might include new, small non- OPEC producers. VIENNA, May 23- OPEC is likely to extend production cuts for another nine months, ministers and delegates said on Tuesday as the oil producer group meets this week to debate how to tackle a global glut of crude. The Organization of the Petroleum Exporting Countries meets in Vienna on Thursday to consider whether to...

  • Under the trade deal between the United States, Mexico and Canada, rules of origin stipulate that products must meet minimum regional, or NAFTA-wide, content requirements to be tariff-free. The trade group represents Honda Motor Co, Nissan Motor Co Ltd, Hyundai Motor Co and other major foreign automakers in the United States. The president of the Mexican...

  • Backwardation would allow low-cost oil producers in OPEC to sell their output at a higher price linked to the spot market while curbing growth from shale firms that sell at prices linked to the forward curve. Goldman's strategy aims to "share growth" between OPEC and shale firms to avoid another repeat of boom and bust in oil prices. But if OPEC can shift the market...

  • Backwardation would allow low-cost oil producers in OPEC to sell their output at a higher price linked to the spot market while curbing growth from shale firms that sell at prices linked to the forward curve. Goldman's strategy aims to "share growth" between OPEC and shale firms to avoid another repeat of boom and bust in oil prices. But if OPEC can shift the market...

  • *Deal might include new, small non- OPEC producers. VIENNA, May 23- OPEC will likely agree to extend production cuts for another nine months, delegates said on Tuesday as the oil producer group meets this week to debate how to tackle a global glut of crude. The Organization of the Petroleum Exporting Countries meets in Vienna on Thursday to consider whether to...

  • FRANKFURT, May 23- The European Union could lose some of its supervision and oversight of clearing activities once Britain leaves the bloc, European Central Bank President Mario Draghi said in a letter to a member of the European Parliament on Tuesday. "In a post-Brexit environment, UK financial market infrastructures would be considered as third-country...

  • *Deal might include new, small non- OPEC producers. VIENNA, May 23- OPEC will likely agree to extend production cuts for another nine months, delegates said on Tuesday as the oil producer group meets this week to debate how to tackle a global glut of crude. Saudi Arabia's Gulf ally Kuwait said on Tuesday not every OPEC member was on board for an extension to March 2018,...

  • *OPEC- led supply cuts expected to be extended by 9 months. *Plan would undermine OPEC- led effort to tighten markets. LONDON, May 23- Oil rose on Tuesday as expectations of an extension to OPEC- led supply cuts supported prices, reversing losses earlier in the session after a White House proposal suggested selling off half the country's huge oil stockpile.

  • *Loonie touches its strongest since April 24 at C $1.3457. The data points to a "healthy increase" in gross domestic product for the month, CIBC Capital Markets economist Nick Exarhos said in a research note. The price of oil, one of Canada's major exports, rose as expectations that the Organization of the Petroleum Exporting Countries and other producers will...

  • May 23- U.S. stocks looked set to open higher on Tuesday, shrugging off a deadly bomb blast in Britain and ahead of U.S. The plan also includes selling off half the country's huge oil stockpile, a proposal that weighed on crude oil prices as it threatened a future glut even as OPEC and its allies cut output to try and tighten the market. The budget will not pass in its...

  • *Plan would undermine OPEC- led effort to tighten markets. President Donald Trump's plan to sell off half the country's huge oil stockpile, threatening a future glut even as OPEC and its allies look set to extend output cuts in a bid to tighten the market. The White House plan to sell off half of the nation's 688 million-barrel oil stockpile from 2018 to 2027 aims to...

  • *Plan would undermine OPEC- led effort to tighten markets. President Donald Trump's plan to sell off half the country's huge oil stockpile, threatening a future glut even as OPEC and its allies look set to extend output cuts in a bid to tighten the market. The White House plan to sell off half of the nation's 688 million-barrel oil stockpile from 2018 to 2027 aims to...

  • MOSCOW, May 23- Russia's oil-dependent economy is expected to grow from 2017 onwards, supported by higher global crude prices and oil production rising to new post-Soviet highs, the World Bank said on Tuesday. It said its latest growth forecasts were based on the assumption that crude prices would average $55 a barrel this year, $60 in 2018 and $61.5 in 2019, and...

  • *Deal might include new, small non- OPEC producers. VIENNA, May 23- OPEC will likely agree to extend production cuts for another nine months, delegates said on Tuesday as the oil producer group meets this week to debate how to tackle a global glut of crude. Saudi Arabia's Gulf ally Kuwait said on Tuesday not every OPEC member was on board for an extension to March 2018,...

  • VIENNA, May 23- Mexico supports an extension of OPEC's supply cuts as a way to stabilise oil markets and bring fresh investment into the country's growing energy sector, the Mexican deputy secretary for hydrocarbons said on Tuesday. Oil ministers from OPEC and non-member producers meet on Thursday in Vienna. Mexico, which is not in OPEC, has seen its oil industry...

  • VIENNA, May 23- Mexico supports an extension of OPEC's supply cuts as a way to stabilize oil markets and bring fresh investment into the country's growing energy sector, the Mexican deputy secretary for hydrocarbons said on Tuesday. Oil ministers from OPEC and non-member producers meet on Thursday in Vienna. Mexico, which is not in OPEC, has seen its oil industry...

  • *Plan would undermine OPEC- led effort to tighten markets. President Donald Trump's plan to sell off half the country's huge oil stockpile, threatening a future glut even as OPEC and its allies cut output to try and tighten the market. The White House plan to sell off half of the nation's 688 million-barrel oil stockpile from 2018 to 2027 aims to raise $16.5 billion...

  • *Plan would undermine OPEC- led effort to tighten markets. President Donald Trump proposed the sale of half the country's strategic oil reserves, even as producer club OPEC and its allies cut output to tighten the market. The White House budget plan would sell off half of the nation's emergency oil stockpile from 2018 to 2027 to raise $16.5 billion from October...