World Economy International Organizations

  • *Some see volatility on OPEC jawboning of output freeze deal. Gasoline and distillate stocks also rose, the EIA said, driving down oil prices that had mostly risen in the past two weeks on speculation of an output freeze by major producers led by OPEC. "I cannot continue to stress that at this time of year we are supposed to be getting draws," Tariq Zahir, oil trader at...

  • *Some see volatility on OPEC jawboning of output freeze deal. Gasoline and distillate stocks also rose, the EIA said, driving down oil prices that had mostly risen in the past two weeks on speculation of an output freeze by major producers led by OPEC. "I cannot continue to stress that at this time of year that we are supposed to be getting draws," said Tariq Zahir, who...

  • NEW YORK, Aug 24- Oil prices fell on Wednesday, with U.S. crude futures losing more than 1 percent, on data pointing to a potential build in domestic crude stockpiles that offset market bulls' speculation of an OPEC output freeze. "Markets are tough here overall as there is no significant macro story, and the bears are still talking about inventories," said Scott...

  • *Europe's biggest economy grew 0.4 pct q/q in Q2. BERLIN, Aug 24- Solid economic growth generated a record budget surplus for Germany in the first half of this year, stoking a debate within government about whether the country should use its spare revenue to cut taxes or increase spending. But the International Monetary Fund and other euro zone governments have...

  • NEW YORK, Aug 23- Oil prices rose on Tuesday after Reuters reported Iran was sending positive signals that it may support joint OPEC action to prop up the market, before the market pared gains on trade data showing a surprise build in U.S. crude stocks. Iran, the third-largest producer in the Organization of the Petroleum Exporting Countries, refused to join a...

  • *Canadian dollar at C $1.2910, or 77.46 U.S. cents. Oil rallied after Reuters reported that Iran was sending positive signals that it may support joint OPEC action to prop up the market. The oil-related news helped push the Canadian dollar through resistance around C $1.2900, although it pared some gains as the market turned its attention to Federal Reserve Chair...

  • NEW YORK, Aug 23- Oil prices rose more than 1 percent on Tuesday after Reuters reported that Iran was sending positive signals that it may support joint OPEC action to prop up the market. Although it has not said if it will join an effort to curb production at a meeting of OPEC and other producers in September, Iran appears more willing this time to reach an...

  • *Iran sending "positive signals" on output freeze- sources. NEW YORK, Aug 23- Oil prices rose more than 1 percent on Tuesday, reversing early losses, after Reuters reported Iran was sending positive signals that it may support joint OPEC action to prop up the market. Although it has not said if it will join an effort to curb production at a meeting of OPEC and other...

  • *Iraq not open to capping output, Abadi says. BAGHDAD, Aug 23- Iraq's prime minister said the country has not yet reached its full oil market share, suggesting his government would not restrain crude output as part of any possible OPEC agreement to lift prices. "And the capping, we are not open to that because Iraq is still below what it should produce," Haider al-Abadi...

  • NEW YORK, Aug 23- Oil prices rose on Tuesday, reversing early losses, after Reuters reported Iran was sending positive signals that it may support joint OPEC action to prop up the market. Iran, the third-largest oil producer in the Organization of the Petroleum Exporting Countries, has been boosting output since the lifting of Western sanctions in January and...

  • NEW YORK, Aug 23- Oil prices jumped as much as 2 percent on Tuesday, reversing early losses, after Reuters reported that Iran was sending positive signals that it may support joint OPEC action to prop up the market. Iran, the third-largest oil producer in the Organization of the Petroleum Exporting Countries, has been boosting output since the lifting of Western...

  • *Russia waiting for internal OPEC agreement, says source. DUBAI/ LONDON, Aug 23- Iran is sending positive signals that it may support joint action to prop up the oil market, sources in OPEC and the oil industry said, potentially aiding efforts to revive a global deal on freezing production levels at talks next month. Tehran refused to join a previous attempt this year...

  • International Brent crude oil futures were trading at $48.86 per barrel at 0644 GMT, down 30 cents, or 0.61 percent, from their last close. The bank said a proposal by members of the Organization of the Petroleum Exporting Countries and other producers like Russia to freeze output at current levels "would leave production at record highs" and therefore do little...

  • International Brent crude oil futures were trading at $48.54 per barrel at 0235 GMT, down 62 cents, or 1.26 percent, from their last close. The bank said a proposal by members of the Organization of the Petroleum Exporting Countries and other producers like Russia to freeze output at current levels "would leave production at record highs" and therefore do little...

  • *World Bank set to issue $700 mln in IMF SDR bonds in China. BEIJING/ SHANGHAI, Aug 22- Plans by the World Bank to sell special drawing right bonds in China are facing market headwinds thanks to expectations of low yields, investors said, although state-owned banks will likely take up any slack in demand. China's central bank said earlier in August that the World Bank...

  • NEW DELHI/ MUMBAI, Aug 20- Reserve Bank of India insider Urjit Patel won a promotion to run the central bank on Saturday with a mandate to cement the bank's commitment to keeping inflation low, as the tenure of the man he is replacing draws to a turbulent conclusion. Raghuram Rajan, a former International Monetary Fund chief economist feted as a "rock-star" central...

  • NEW DELHI/ MUMBAI, Aug 20- India's government promoted Urjit Patel, a deputy governor in charge of monetary policy at the Reserve Bank of India, to serve as governor for a three-year term, endorsing the central bank's reformist inflation-fighting agenda. Patel will replace Raghuram Rajan, a former International Monetary Fund chief economist popular with...

  • NEW DELHI/ MUMBAI, Aug 20- India's government promoted Urjit Patel, a deputy governor in charge of monetary policy at the Reserve Bank of India, to serve as governor for a three-year term, endorsing the central bank's reformist inflation-fighting agenda. Patel will replace Raghuram Rajan, a former International Monetary Fund chief economist popular with...

  • MUMBAI, Aug 20- India's government promoted Urjit Patel, a deputy governor in charge of monetary policy at the Reserve Bank of India, to serve as its next governor for a three-year term, it said on Saturday. Patel will replace Raghuram Rajan, a former International Monetary Fund chief economist who stunned financial markets in June by announcing he would step down...

  • *Oil up nearly $10/ bbl, or almost 25 pct, in just over 2 weeks. Crude futures have risen almost $10 a barrel since early August on speculation that Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries will agree next month to a production freeze deal with non- OPEC producers led by Russia. West Texas Intermediate crude settled up 30...