World Economy International Organizations

  • While OPEC may have been hibernating, the decision by Saudi Arabia, OPEC's leading member, to let oil prices crash was always a pragmatic one, not an ideological one. OPEC has sent stark reminder that when circumstances change, it can change too-- and it would be foolish to write off OPEC as irrelevant. Moreover, most other OPEC countries, as well non- OPEC ones like...

  • LONDON, Dec 1- Britain would consider making payments to the European Union after it leaves to achieve the best possible access for businesses to the bloc's markets, Brexit minister David Davis said on Thursday. Davis, who runs a new government department tasked with overseeing Britain's withdrawal from the EU, was asked repeatedly by lawmakers during a...

  • VIENNA, Dec 1- Russian President Vladmir Putin played a crucial role in helping OPEC rivals Iran and Saudi Arabia set aside differences to forge the cartel's first deal with non-OPEC Russia in 15 years. Interventions ahead of Wednesday's OPEC meeting came at key moments from Putin, Saudi Deputy Crown Prince Mohammed bin Salman and Iran's Supreme Leader...

  • *Canadian dollar at C $1.3366, or 74.82 U.S. cents. The Organization of the Petroleum Exporting Countries reached the agreement on Wednesday after de-facto leader Saudi Arabia accepted "a big hit" and dropped a demand that archrival Iran also slash production. At 9:19 a.m. EST, the Canadian dollar was trading at C $1.3366 to the greenback, or 74.82 U.S. cents,...

  • *OPEC deal could have modest positive impact on state finances. DUBAI, Dec 1- Petrochemicals companies led Gulf stock markets higher on Thursday in response to OPEC's first agreement on output cuts to prop up oil prices since 2008-- a deal that could allow governments to ease austerity policies slightly. Saudi Arabia is to take the lion's share of cuts, lowering...

  • EDINBURGH, Dec 1- Britain needs to keep open the possibility of continuing to pay fees to the European Union even after it leaves, finance minister Philip Hammond said on Thursday, after one of his colleagues said this could not be ruled out. Brexit minister David Davis told lawmakers earlier on Thursday that Britain would consider making payments to the...

  • LONDON, Dec 1- The British government will start official divorce proceedings from the European Union early next year, according a Reuters poll of foreign exchange strategists, who also said sterling's slide since June's Brexit referendum is not yet over. Following Britain's decision to leave the EU, Prime Minister Theresa May said she intends to trigger...

  • REUTERS POLL- BRITAIN TO TRIGGER ARTICLE 50 PROCESS TO LEAVE EUROPEAN UNION IN Q1 2017, 20 OF 27 FX STRATEGISTS SAY.

  • LONDON, Dec 1- Britain would consider making payments to the European Union after it leaves to achieve the best possible access to the bloc's markets for businesses, Brexit minister David Davis said on Thursday. Prime Minister Theresa May's spokeswoman said the comments were consistent with what the government had said about Britain deciding how taxpayers'...

  • LONDON, Dec 1- OPEC has reached an agreement to cut its oil output by almost 1.2 million barrels per day and been rewarded with an increase in nearby futures prices of around $5 per barrel. Saudi Arabia is likely to provide around half of the real cuts, and its Gulf allies most of the rest, with a high degree of expected non-compliance by other OPEC and non- OPEC...

  • *UK factories grappling with strong cost pressures- PMI. Thursday's Markit/CIPS UK Manufacturing Purchasing Managers' Index also suggested the weak pound failed to boost exports by as much as in previous months. Wednesday's 10 percent surge in crude oil prices- after OPEC and Russia agreed to restrict production- pushed the dollar cost of oil close to levels...

  • *OPEC deal sends oil prices soaring. *$2 trillion global bond rout since U.S. election. LONDON, Dec 1- Oil swept to a six-week high on Thursday after OPEC agreed to cut crude output to help clear a glut, while sterling hit a three-month peak after traders interpreted comments from a senior UK official as a crack in the government's "hard Brexit" line.

  • LAUNCESTON, Australia, Dec 1- The trick with the OPEC agreement is not to view it as a cut to output, but rather as the partial removal of excess crude oil from the global market. This will likely be the case even if Russia and other non- OPEC producers make good on a commitment to cut production by a further 600,000 bpd. They earlier rose 10 percent, the largest one-day...

  • VIENNA, Nov 30- Below is a table showing oil output cuts agreed at a meeting of the Organization of the Petroleum Exporting Countries in Vienna on Wednesday. Cuts are from October production levels. Country Targeted Jan 2017 Cut in thousands of bpd.

  • Dec 1- The oil price rally sparked by an OPEC-Russia deal to cut output is likely to be short-lived, say traders in Asia, because the agreement may only draw more supplies from storage tanks and more crude shipments from the United States. And even without increased supplies from elsewhere, if the Organization of the Petroleum Exporting Countries and Russia do...

  • *OPEC deal sends oil prices soaring. *$2 trillion global bond rout since U.S. election. LONDON, Dec 1- Oil swept to a six-week high on Thursday, lifting energy shares in its slipstream, after OPEC agreed to cut crude output to clear a glut, while bond yields rose on prospects that resulting inflationary pressures will lead to higher interest rates.

  • *OPEC- driven surge in oil prices lifted U.S. yields and dollar. *Euro capped by concerns over Italy's referendum. LONDON, Dec 1- The dollar traded just off a 9-1/ 2- month high against the yen on Thursday, steadying after a jump along with U.S. bond yields on the details of a deal to cut OPEC oil output.

  • *OPEC- driven surge in oil prices lifted U.S. yields and dollar. *Euro capped by concerns over Italy's referendum. LONDON, Dec 1- The dollar traded just off a 9-1/ 2- month high against the yen on Thursday, steadying after a jump along with U.S. bond yields on the details of a deal to cut OPEC oil output.

  • *OPEC- driven surge in oil prices lifted U.S. yields and dollar. *Euro capped by concerns over Italy's referendum. LONDON, Dec 1- The dollar traded just off a 9-1/ 2- month high against the yen on Thursday, steadying after a jump along with U.S. bond yields on the details of a deal to cut OPEC oil output.

  • *OPEC- driven surge in oil prices lifted U.S. yields and dollar. *Euro capped by concerns over Italy's referendum. LONDON, Dec 1- The dollar traded just off a 9-1/ 2- month high against the yen on Thursday, steadying after a jump along with U.S. bond yields on the details of a deal to cut OPEC oil output.