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World Economy International Organizations

  • *Nigeria mired in recession after oil price slump. ABUJA, Feb 11- Nigeria's economy is projected to have contracted 1.54 percent in 2016, according to a budget ministry document, with Africa's most populous country mired in its first recession in a quarter of a century. The International Monetary Fund has predicted that Nigeria's economy would shrink 1.8...

  • European Commission President Jean-Claude Juncker, however, said the deal was "on shaky ground" because the International Monetary Fund had not decided what role it would play. The comments came a day after Greece and its international lenders made clear progress towards bridging differences over Athens's fiscal path in coming years, moving closer to a deal...

  • BERLIN, Feb 11- European Commission President Jean-Claude Juncker said in an interview to be aired on Sunday that he doubts the bloc's remaining 27 members can maintain a united front as they negotiate Britain's exit from the European Union. "The other EU 27 don't know it yet, but the Brits know very well how they can tackle this," Juncker told Deutschlandfunk radio.

  • Greek Prime Minister Alexis Tsipras looks on during a parliamentary session before a budget vote in Athens, Greece, December 10, 2016.

    A deal will release another tranche of funds from Greece's €86 billion bailout, and facilitate a big repayment this summer, Reuters reports.

  • MOSCOW, Feb 11- Russia will decided in April or May whether an agreement on global oil output cuts between OPEC and non- OPEC producers, set to end on June 31, should be extended, TASS news agency quoted Russian Energy Minister Alexander Novak as saying on Saturday.

  • Reaching agreement would release another tranche of funds from it latest 86 billion euro bailout, and facilitate Greece making a major 7.2 billion euro debt repayment this summer. European and International Monetary Fund lenders want Greece to make 1.8 billion euros- or 1 percent of GDP- worth of new reforms by 2018 and another 1.8 billion euros after then and...

  • NEW YORK, Feb 10- Buoyant oil prices since Donald Trump's election have provided no lasting halo effect for energy stocks as the sector's profit rebound has lacked vigor, but that could change in the week ahead with a fresh crop of quarterly scorecards. Helped by OPEC output cuts, oil prices are up roughly 20 percent since Trump's victory, and U.S. crude has held...

  • *OPEC compliance in January at 92 pct- OPEC figures. NEW YORK, Feb 10- Oil prices rose on Friday after reports that OPEC members delivered more than 90 percent of the output cuts they pledged in a landmark deal that took effect in January. The International Energy Agency- one of OPEC's six sources- said the cuts in January equated to 90 percent of the agreed reductions...

  • *OPEC compliance in January at 92 pct- OPEC figures. NEW YORK, Feb 10- Oil prices rose on Friday after reports that OPEC members delivered more than 90 percent of the output cuts they pledged in a landmark deal that took effect in January. The International Energy Agency- one of OPEC's six sources- said the cuts in January equated to 90 percent of the agreed reductions...

  • Baker Hughes@ Feb 10- U.S. energy companies accelerated the rate of growth in oil rigs added over the past four weeks by the most since 2012 as drillers take advantage of a rise in crude prices since OPEC agreed to cut supplies in late November. RIG-OL-USA- BHI> During the same week a year ago, there were 439 active oil rigs. Baker Hughes oil rig count plunged from a record...

  • Feb 10- U.S. energy companies added oil rigs for a 14th week in the last 15, extending a nine-month recovery as drillers take advantage of crude prices that have held mostly over $50 a barrel since OPEC agreed to cut supplies in late November. Baker Hughes oil rig count plunged from a record 1,609 in October 2014 to a six-year low of 316 in May as U.S. crude collapsed...

  • DUBAI/ LONDON, Feb 10- Eleven non- OPEC oil producers that joined a global deal to cut output to boost prices have delivered 40 percent of promised curbs in January, two OPEC sources said. The lower compliance figure for non- OPEC to date is partly due to the phased implementation of the deal by Russia, the largest non-producer cooperating with OPEC.

  • *OPEC compliance in January at 92 pct- OPEC figures. *IEA says OPEC compliance at 90 pct. The International Energy Agency- one of OPEC's six sources- said the cuts in January equated to 90 percent of the agreed reductions in output, far higher than the initial 60 percent compliance with a 2009 OPEC deal.

  • The Venezuelan delegation is visiting a number of OPEC and non- OPEC countries to coordinate and discuss oil market conditions. Novak said last month it was too early to talk about extending the current deal between OPEC and non- OPEC producers beyond the planned six months but that remained an option. OPEC members with production targets under the deal...

  • *OPEC compliance in January at 92 pct- OPEC figures. *IEA says OPEC compliance at 90 pct. Supply from the 11 OPEC members with production targets under the deal fell to 29.921 million barrels per day, according to the average assessments of the six secondary sources OPEC uses to monitor output, or a 92 percent compliance.

  • BRUSSELS, Feb 10- Euro zone lenders and the International Monetary Fund have agreed to put aside differences and present a united front at a meeting with Greece in the latest bailout impasse, a step towards agreeing what Athens must do next. Euro zone officials said on Friday the lenders would ask Greece to take 1.8 billion euros' worth of new reforms by 2018 and...

  • BRUSSELS, Feb 10- Euro zone lenders and the International Monetary Fund have agreed to put aside differences and present a united front at a meeting with Greece in the latest bailout impasse, a step towards agreeing what Athens must do next. Euro zone officials said on Friday the lenders would ask Greece to take 1.8 billion euros' worth of new reforms by 2018 and...

  • Supply from the 11 OPEC members with production targets under the deal has fallen to 29.921 million bpd, according to the average assessments of the six secondary sources OPEC uses to monitor its output and which were seen by Reuters. "That's the highest in OPEC history," another OPEC source said. Oil rose on Friday, trading above $56 a barrel, supported by a report...

  • The Organization of the Petroleum Exporting Countries and non- OPEC producers in December reached their first deal since 2001 to curtail oil output jointly, by around 1.8 million barrels per day. So far, OPEC kingpin Saudi Arabia, which is contributing the biggest chunk of the cut, has said the deal does not need to be extended beyond a six-month period.

  • *OPEC compliance in Jan. at 92 pct- OPEC figures. *IEA says OPEC compliance at 90 pct. The 11 OPEC members with production targets under the deal complied with a record 92 percent of the targeted volume in January, according to the average assessments of the six secondary sources OPEC uses to monitor its output, which were seen by Reuters.