World Economy International Organizations

  • *OPEC/ non- OPEC deal to curb oil production on "probation"- IEA. LONDON, Jan 19- World oil markets are slowly tightening as demand rises while investors wait to see if production cuts agreed by OPEC and other producers will be implemented as promised, the International Energy Agency said on Thursday. OPEC agreed in November to cut production by 1.2 million barrels per...

  • LAUNCESTON, Australia, Jan 19- One of the consequences of the cuts to crude oil supply by OPEC and its allies has been the sharp narrowing of the premium that light crude commands over heavier grades. The Brent- Dubai exchange for swaps, which tracks the difference between Brent, global benchmark for light crude, and Dubai, main price marker for heavier oil in the...

  • *Rising U.S. shale production to counter OPEC, non- OPEC cuts. *IEA keeps demand for OPEC crude in 2017 steady at 32.9 bpd. LONDON, Jan 19- Oil bounced back from a one-week low on Thursday as the International Energy Agency said global oil markets were tightening even before cuts promised by OPEC and other producers could take shape.

  • *OPEC/ non- OPEC deal to curb oil production on "probation"- IEA. LONDON, Jan 19- World oil markets are slowly tightening as demand rises while investors wait to see if production cuts agreed by OPEC and other producers will be implemented as promised, the International Energy Agency said on Thursday. OPEC agreed in November to cut production by 1.2 million barrels per...

  • *Rising U.S. shale production to counter OPEC, non- OPEC cuts. *IEA keeps demand for OPEC crude in 2017 steady at 32.9 bpd. SINGAPORE, Jan 19- Oil bounced back from one-week low on Thursday as the International Energy Agency said global oil markets were tightening with demand rising and focus turning toward cuts promised by OPEC and other producers.

  • DAVOS, Switzerland— OPEC countries could cut oil production again this year, Saudi Arabia's energy minister said Thursday. "There have been times in the past where OPEC has taken one action and then a few months later found out that that action was not sufficient and followed up with another action," he said. OPEC agreed in late November to cut its production by 1.2...

  • LONDON, Jan 19- World oil markets are slowly tightening as demand rises while investors wait to see if production cuts agreed by OPEC and other producers will be implemented as promised, the International Energy Agency said on Thursday. OPEC agreed in November to cut production by 1.2 million barrels per day to 32.5 million bpd for the first six months of 2017,...

  • DAVOS, Switzerland, Jan 19- Finance minister Philip Hammond warned the European Union on Thursday that Britain would be forced to find different ways to remain competitive if there was no "comprehensive trading relationship" after Brexit. At the World Economic Forum in Davos, Switzerland, Hammond stuck closely to the government's script that Britain wants to...

  • DAVOS, Switzerland, Jan 19- A senior Russian official, who last year was first to predict that Moscow could cut oil output in tandem with OPEC, believes such cooperation can now last for years, strengthened by cross border investments between Saudi Arabia and Russia. Russia agreed to cut output together with OPEC last month and Dmitriev, a former investment banker...

  • *Rising U.S. shale production to counter OPEC, non- OPEC cuts. West Texas Intermediate crude oil was trading up 40 cents at $51.48 per barrel, having dropped to a one-week low on Wednesday at $50.91 a barrel. "We are just watching for the next catalyst which could come from OPEC, non- OPEC, U.S. shale producers, rig count and, of course, inventories...

  • DAVOS, Switzerland, Jan 19- British finance minister Philip Hammond warned the European Union on Tuesday that if there was no "comprehensive trading relationship" after Brexit, the government would be forced to find ways to remain competitive. At the World Economic Forum in Davos, Switzerland, Hammond told Reuters that Britain already had a competitive tax...

  • LAUNCESTON, Australia, Jan 19- One of the consequences of the cuts to crude oil supply by OPEC and its allies has been the sharp narrowing of the premium that light crude commands over heavier grades. The Brent- Dubai exchange for swaps, which tracks the difference between Brent, global benchmark for light crude, and Dubai, main price marker for heavier oil in the...

  • *Rising U.S. shale production to counter OPEC, non- OPEC cuts. West Texas Intermediate crude oil was trading up 46 cents at $51.54 per barrel, having dropped to a one-week low on Wednesday at $50.91 a barrel. "We are just watching for the next catalyst which could come from OPEC, non- OPEC, U.S. shale producers, rig count and, of course, inventories...

  • MEXICO CITY, Jan 18- Mexico's peso dropped nearly 2 percent on Wednesday after U.S. President-elect Donald Trump's choice for commerce secretary said renegotiating a trade deal with Mexico and Canada would likely be the incoming administration's first priority. In his Senate confirmation hearing, nominee Wilbur Ross said the North American Free Trade...

  • CAIRO, Jan 18- Egypt is on track to receive the second tranche of a $12 billion three-year loan from the International Monetary Fund pending a visit in the end of February to review progress on its economic reform programme, the Fund said on Wednesday. Egypt will scrap its remaining caps on transfers and deposits of foreign currency by the end of June and overhaul...

  • *OPEC pumps 221,000 bpd less in December than in November. NEW YORK, Jan 18- Oil prices fell on Wednesday to their lowest in a week, on a strong dollar and expectations that U.S. producers would boost output even as OPEC's output fell from a record high. Brent crude ended the session at $53.92 per barrel, down $1.55 or 2.79 percent, while U.S. crude settled at $51.08, down...

  • *OPEC pumps 221,000 bpd less in December than in November. NEW YORK, Jan 18- Oil prices fell on Wednesday to their lowest in a week, on a strong dollar and expectations that U.S. producers would boost output even as OPEC's output fell from a record high. "The petroleum markets have turned lower again in Wednesday trade amid talk that higher oil prices will translate...

  • *OPEC pumps 221,000 bpd less in December than in November. NEW YORK, Jan 18- Oil prices fell to the lowest in a week on Wednesday on a strong dollar and expectations that U.S. producers would boost output, while OPEC signalled a drop in the global oil supply surplus this year as the group's output fell from a record high. "The petroleum markets have turned lower again in...

  • LONDON, Jan 18- Sterling fell on Wednesday as investors locked in profits after its biggest one-day surge since at least 1998 in the previous session when Prime Minister Theresa May outlined Britain's hopes for its exit from the European Union. Sterling sliced 0.9 percent off the 3- percent gain it had made against the dollar on Tuesday, leaving it back at...

  • *OPEC pumps 221,000 bpd less in December than in November. NEW YORK, Jan 18- Oil prices fell to their lowest level in a week on Wednesday on expectations U.S. producers would boost output, while OPEC signalled a drop in the global oil supply surplus this year as the producer group's output fell from a record high. "The petroleum markets have turned lower again in...