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World Economy International Organizations

  • NEW YORK, Feb 14- Oil prices pared gains after the settlement Tuesday, as evidence of surging U.S. crude oil stockpiles underscored concerns that shale production might limit the effectiveness of an OPEC- led effort to cut global output. Brent crude traded at $55.73 a barrel at 4:39 p.m. Eastern, off the settlement of $55.97 a barrel, which was up 38 cents but well...

  • NEW YORK, Feb 14- Oil settled slightly higher on Tuesday, as rising supply from U.S. shale output limited enthusiasm about an OPEC- led effort to cut global output. Brent crude settled 38 cents higher at $55.97 a barrel, well off the session high of $56.46 a barrel. The Organization of the Petroleum Exporting Countries and other exporters including Russia have...

  • President Donald Trump says he only wants to tweak trade ties with Canada, his pledge to renegotiate NAFTA to focus on Mexico is almost impossible and Canada will not emerge unscathed, Canadian officials and trade experts said on Tuesday. Canada and Mexico send the bulk of their exports to the United States under NAFTA. Matthew Kronby, an international trade...

  • NEW YORK, Feb 14- Oil pared gains on Tuesday as concerns about rising supply from U.S. shale output overshadowed an OPEC- led effort to cut global output, which has supported oil prices in a higher range. Brent crude was 61 cents higher at $56.20 a barrel by 11:30 Eastern, after earlier rising to $56.46 a barrel. The Organization of the Petroleum Exporting Countries...

  • OPEC and non- OPEC countries are committed to reducing production by an average of nearly 1.8 million barrels per day in the first six months of 2017, with an option to extend cuts for a further six months. Set against this is the risk of "compliance fatigue" if OPEC and non- OPEC countries become complacent and allow production to rise towards the end of the period.

  • *OPEC cuts support oil prices above $50 per barrel. LONDON, Feb 14- Oil rose on Tuesday, supported by an OPEC- led effort to cut output while rising production elsewhere kept prices within the narrow ranges that have contained them so far this year. Brent crude was 80 cents higher at $56.39 a barrel by 1425 GMT.

  • *Loonie touches its strongest since Feb. 6 at C $1.3025. Gains for the Canadian dollar came one day after Trump downplayed potential changes to trade ties between the United States and Canada. U.S. crude prices were up 1.28 percent at $53.61 a barrel, supported by an effort led by the Organization of the Petroleum Exporting Countries to cut output.

  • LONDON, Feb 14- The tone of Britain's divorce negotiations with the European Union will be the main factor influencing the economy this year, according to economists polled by Reuters who also say the Bank of England will leave policy steady at least until 2019.. "Brexit will dominate the UK's markets, economy and politics," Jacob Nell at Morgan Stanley said.

  • PARIS, Feb 14- France, Germany and Italy have asked the European Commission to rethink rules on foreign investment into the European Union amid concerns that technological know-how is leaking abroad, the three countries said in a joint letter obtained by Reuters. The economy ministers of France and Germany and Italy's industry minister voiced concern that a...

  • *OPEC cuts support oil prices above $50 per barrel. LONDON, Feb 14- Oil strengthened slightly on Tuesday, supported by an OPEC- led effort to cut output while rising production elsewhere kept prices within the narrow ranges that have contained them so far this year. Brent crude was 55 cents higher at $56.14 a barrel by 1220 GMT.

  • PARIS, Feb 14- France, Germany and Italy have asked the European Commission to rethink rules on foreign investment into the European Union over concerns technological know-how is leaking abroad, the three countries said in a joint letter obtained by Reuters.

  • *OPEC cuts support oil prices above $50 per barrel. LONDON, Feb 14- Oil strengthened slightly on Tuesday, supported by an OPEC- led effort to cut output while rising production elsewhere kept prices within the narrow ranges that have contained them so far this year. Brent crude was 45 cents higher at $56.04 a barrel by 0950 GMT.

  • *OPEC cuts support oil prices above $50 per barrel. LONDON, Feb 14- Oil steadied on Tuesday, supported by an OPEC- led effort to cut output while rising production elsewhere kept prices within the narrow ranges that have contained them so far this year. Brent crude was 30 cents higher at $55.89 a barrel by 0830 GMT.

  • *OPEC cuts support oil above $50 per barrel. SINGAPORE, Feb 14- Oil prices were stable on Tuesday, supported by an OPEC- led effort to cut output while rising production elsewhere kept crude futures within the narrow range that has contained them so far this year. Brent crude futures were trading at $55.63 per barrel at 0638 GMT, up 4 cents from their last close.

  • *OPEC cuts support oil above $50 per barrel. SINGAPORE, Feb 14- Oil rose on Tuesday, supported by an OPEC- led effort to cut output, but rising production elsewhere kept prices within the narrow range that has contained them so far this year. Brent crude futures, the international benchmark for oil prices, were trading at $55.76 per barrel at 0112 GMT, up 17 cents from...

  • *OPEC delivered 93 percent of pledged output curbs in January. *ABN Amro reduces Brent price forecast for H1 2017 to $50/ bbl. Investors were meanwhile underwhelmed by an OPEC report showing high compliance with last year's production-cut deal.

  • *Germany backs Greece, wants it to remain in euro zone. BRUSSELS/ BERLIN, Feb 13- Germany on Monday voiced support for Greece to stay in the euro zone and the European Commission dispatched a senior official to Athens to persuade it to take on further reforms to salvage its bailout accord. The moves came as the European Commission forecast a large jump in economic...

  • *OPEC delivered 93 percent of pledged output curbs in January. NEW YORK, Feb 13- Oil on Monday declined by about 2 percent, the most since mid January, as a stronger dollar and signs of rising U.S. crude output pressured prices while an OPEC report showing high compliance with last year's production-cut deal underwhelmed investors. Brent futures were down $1.17, or...

  • LONDON, Feb 13- Lloyds Banking Group is close to selecting Berlin as a European base to secure market access to the European Union when Britain leaves the bloc, sources told Reuters. Lloyds, which declined to comment, is the only major British retail lender without a subsidiary in another EU country and it would be the first major lender to commit to Berlin as a hub to...

  • *OPEC output falls 890,000 bpd in January, led by Saudi. *OPEC data points to 93 pct compliance with output curbs. Supply from the 11 OPEC members with production targets under the deal fell to 29.888 million bpd last month, according to figures from secondary sources that OPEC uses to monitor its output.