World Economy International Organizations

More

  • NEW YORK, Feb 22- Global stocks rallied on Monday, boosted by a rise in oil and commodity prices, while the euro and the British pound fell sharply against the dollar on fears Britain would leave the European Union. Sterling fell to a near seven-year low during the session after popular London Mayor Boris Johnson said he would campaign to leave the EU ahead of a June...

  • *Iran to lead supply growth within OPEC. LONDON, Feb 22- Oil production in the United States will reach a record high by 2021 as efficiency gains help domestic producers to combat the low prices that are likely to force hefty output cuts this year and next, the International Energy Agency said on Monday. U.S. shale oil was the main target of OPEC's 15- month-old policy...

  • CARACAS, Feb 22- A deal to freeze oil production could help buoy depressed crude prices by $10 to $15 dollars a barrel, according to Venezuela's Oil Minister Eulogio Del Pino, who called on OPEC and non- OPEC countries to join the agreement. Leading OPEC member Saudi Arabia, non- OPEC member Russia, Qatar and Venezuela agreed last week to freeze output at January...

  • The report forecast OPEC crude oil production capacity would rise by 800,000 bpd by 2021 as lower oil prices force the re-consideration of development projects in the early period of the forecast. "Iran, now free of nuclear sanctions, emerges as the biggest source of growth within OPEC over the six-year forecast period. The higher capacity will not, however,...

  • *Bond markets also hit, raising UK yields. LONDON, Feb 22- Sterling headed towards its biggest loss in almost six years against the dollar on Monday as traders homed in on narrowing bookmaker odds on a British exit from the European Union, but the weaker pound lifted UK blue chip stocks. The scale of the reaction on sterling, an almost 2 percent fall driven chiefly by...

  • LONDON, Feb 22- Emerging stocks rose 0.7 percent on Monday to extend last week's gains, tracking world equity markets higher on expectations of a policy action announcement from the G20 meeting this week. Credit Agricole's head of EM strategy Sebastien Barbe said gains were also due to oil prices staying above $30 a barrel. The Korean won rose 0.4 percent however...

  • LONDON, Feb 22- Claims and counter-claims about the costs and benefits of Britain's membership of the European Union are flying ahead of a June 23 referendum on whether the country should stay in. CEBR said it was not implying these jobs would be lost if Britain left the EU. The Confederation of British Industry, which supports EU membership, says academic studies...

  • *Sterling falls on prospect of Britain leaving EU. LONDON, Feb 22- Shares rose in Europe and Asia on Monday along with oil and commodity prices, while sterling fell against the dollar and euro on concerns Britain may vote to leave the European Union. London Mayor Boris Johnson, a political heavyweight in David Cameron's ruling Conservative Party, on Sunday defied...

  • BERLIN, Feb 22- A collapse of Europe's Schengen passport-free travel zone could cost the European Union up to 1.4 trillion euros over the next decade, a study by Germany's Bertelsmann Foundation showed on Monday. The study estimated that under a worst case scenario, in which the reintroduction of controls at EU borders pushed import prices up three percent, the...

  • HONG KONG, Feb 22- Asian share markets rose on Monday, extending last week's gains, as investors awaited a rush of February industry surveys to take the pulse of the global economy, while sterling stumbled on concerns the UK might yet vote to leave the European Union. Despite the fresh "Brexit" uncertainty, financial spreadbetters expected European stock markets...

  • SHANGHAI, Feb 22- China's yuan barely budged against the dollar on Monday as the central bank kept holding the line via a steady midpoint fixing. G20 finance ministers and central bank governors are due to meet on Feb. 26 and 27 to discuss issues including China's excess capacity, oil prices and global growth. While such briefings are common for hosts of G20...

  • NEW DELHI, Feb 22- A senior U.S. energy official said he doubted the success of a proposal by OPEC and non- OPEC producers to freeze crude oil output in an oversupplied market and boost prices. In an attempt to stabilize prices, Russia, Saudi Arabia, Qatar and Venezuela have agreed a deal to freeze production at January levels if other producers do the same.

  • Record U.S. crude stocks of 504.1 million barrels pulled back gains from last week's relief rally on the announcement of a production freeze by Russia and the Organization of the Petroleum Exporting Countries. Analysts also said that some producers seemed to show little commitment to a deal reached by Russia and OPEC leader Saudi Arabia, and supported by...

  • Analysts also said that some producers seemed to show little commitment to a deal reached by Russia and OPEC leader Saudi Arabia, and supported by Qatar and Venezuela, to freeze output at January levels. "The lack of commitment from some OPEC members on a production freeze remains the key headwind short term," ANZ bank said on Monday. OPEC- member Iran has shown...

  • "OPEC, instead of cutting production, they increased production, and that's the predicament we're in right now," Bill Thomas, chief executive of EOG Resources Inc, one of the largest U.S. shale oil producers, told an industry conference last week, referring to 2015.. It will be Naimi's first public appearance in the United States since Saudi Arabia led the...

  • BRUSSELS, Feb 19- European Union leaders reached a deal late on Friday that offers leeway to Britain in applying banking and markets' regulations, but maintains that there will be a single set of rules for the financial sector within the EU. EU Council President Donald Tusk said the agreement aimed at keeping Britain in the bloc won unanimous support from all 28 EU...

  • CARACAS, Feb 19- Venezuela is sending new proposals to leaders of OPEC and non- OPEC countries to stabilize the oil market, President Nicolas Maduro said in a televised broadcast on Friday afternoon, without providing details. The latest move by price-hawk Venezuela comes days after leading OPEC member Saudi Arabia, non- OPEC member Russia, Qatar and the South...

  • PARIS, Feb 19- French President Francois Hollande stuck to a firm line on Friday on limiting concessions to London on financial sector reforms and welfare at a European Union summit struggling to work out a deal to keep Britain in the bloc. Hollande said that reforms demanded by Britain could in turn give its financial sector an unfair advantage over other...

  • Since last Friday though, some traders believed the market had seen a bottom on talk that OPEC was on a plan to reign in production. This week, Saudi Arabia, the lynchpin of the Organization of the Petroleum Exporting Countries, along with Qatar and Venezuela, and non- OPEC member Russia, proposed to freeze output at January's highs. Bank of America Merrill Lynch said...

  • *Record high U.S. inventories eclipse OPEC output freeze plan. NEW YORK, Feb 19- Oil prices were down 4 percent on Friday, with Brent on track to a third straight week of losses as record high U.S. crude stockpiles intensified worries that a plan to freeze world output will do little or nothing to reduce massive supplies already in the market. U.S. crude futures were...