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World Economy International Organizations

  • *OPEC compliance with output cuts beats target in Feb- Kuwait min. *OPEC, non- OPEC to meet March 26 to discuss production cuts. Kuwait's oil minister said on Wednesday that OPEC's compliance with the cuts had exceeded targets, standing at 140 percent in February, while non- OPEC embers compliance was 50-60 percent.

  • Despite commitments to cut production in an OPEC deal, Saudi Aramco had agreed to supply at least one customer in Asia with incremental crude on top of contracted volumes next month, as it holds to a strategy of maintaining market share in the fastest-growing market, one of the sources said. Saudi Arabia led a pact between the Organization of the Petroleum...

  • "However, there is increasing talk of extending the OPEC production cut agreement." Kuwait Oil Minister Essam Al-Marzouq said on Wednesday that OPEC's compliance with an oil output cut exceeded a target, standing at 140 percent in February, while non- OPEC embers compliance was 50-60 percent. Kuwait is set to host a ministerial meeting on March 26, attended by both...

  • *Wall Street mostly gains, but Dow off slightly. The surge in crude inventories to a record high slammed energy stocks, leading much of Wall Street lower, and stoked concerns a global oil glut may persist even as the Organization of the Petroleum Exporting Countries tries to prop up prices with output curbs. "The other thing unnerving the market is rapid growth in...

  • *OPEC cut 40 pct more in Feb. than pledged in deal- Kuwait. NEW YORK, March 8- Oil prices plunged 5 percent to their lowest levels this year on Wednesday as U.S. crude inventories surged much more than expected to a record high, stoking concerns a global glut could persist even as OPEC tries to prop up prices with output curbs. "We're seeing some' GMO trading', or' Get-Me-Out'...

  • *OPEC cut 40 pct more in Feb. than pledged in deal- Kuwait. NEW YORK, March 8- Oil prices plunged 5 percent to their lowest levels this year on Wednesday as U.S. crude inventories surged to a new record high, stoking concerns a global glut could persist even with OPEC attempting to prop up prices with output curbs. "We're seeing some' GMO trading', or' Get-Me-Out' type trading,"...

  • In January when Ford canceled a $1.6 billion plant in San Luis Potosi it was a major victory for President Trump's campaign to force U.S. industry to bring jobs home, but it also sparked fears of a slump in foreign investment in Mexico. Trump has threatened to ditch the North American Free Trade Agreement between the United States, Mexico and Canada if he cannot...

  • *OPEC cut 40 pct more in Feb than pledged in oil deal- Kuwait. *Saudi says too early to talk of extending OPEC cut. NEW YORK, March 8- Oil prices plunged 4 percent to the lowest in nearly seven weeks on Wednesday as U.S. crude inventories surged to a new record high, feeding concerns a global could persist even with OPEC output curbs.

  • LONDON, March 8- U.S. insurer AIG plans a European Union hub in Luxembourg following Britain's decision to leave the bloc, the biggest financial services firm so far to detail such a move. AIG said on Wednesday it would keep its main European headquarters in London and open a subsidiary in Luxembourg, which along with Frankfurt, Paris and Dublin is touting itself as...

  • HOUSTON, March 8- Financially strapped oil producers are spending billions to boost production before it's clear that recent crude price gains brought on by OPEC output cuts can be sustained. For now, U.S. producers are taking advantage of the price increase spurred by OPEC's production cuts to boost their output. Some of the oil they are pumping would not have...

  • BRUSSELS, March 8- Britain should pay nearly 2 billion euros to the European Union to cover lost revenues to the EU budget caused by a scam involving British imports of Chinese textiles and footwear, the EU anti-fraud agency OLAF said on Wednesday. The results of the investigation were made public as Britain prepares to begin EU divorce talks, potentially adding...

  • Saudi says too early to talk of extending OPEC cut. NEW YORK, March 8- Oil prices fell more than 1 percent on Wednesday after the U.S. Department of Energy reported a much larger increase than expected in domestic crude inventories, feeding concerns the supply glut could persist even as OPEC seeks to prop up prices with output curbs. "This report runs the gamut in...

  • BRUSSELS, March 8- European Union leaders are expected to encourage the bloc on Thursday to strike more free trade agreements and reject rising protectionist views, such as those of new U.S. The leaders will not name Trump in a statement due to be issued after their summit meeting, but the message will stand in clear contrast to the U.S. president, who has withdrawn...

  • LONDON, March 8- U.S. insurer AIG plans a European Union hub in Luxembourg following Britain's decision to leave the bloc, the biggest financial services firm so far to detail such a move. AIG said on Wednesday it will keep its main European headquarters in London and open a subsidiary in Luxembourg, which along with Frankfurt, Paris and Dublin is touting itself as...

  • YAOUNDE, March 8- Cameroon and the International Monetary Fund are considering a two-year aid programme for the Central African country to deliver sustained and inclusive economic growth. "The sharp decline in commodity prices, along with security threats in the Lake Chad basin and, until recently, civil unrest in the neighbouring Central African Republic,...

  • YAOUNDE, March 8- Cameroon and the International Monetary Fund are considering a two-year aid program for the Central African country to deliver sustained and inclusive economic growth. "The sharp decline in commodity prices, along with security threats in the Lake Chad basin and, until recently, civil unrest in the neighboring Central African Republic, have...

  • LONDON, March 8- U.S. insurer AIG plans to set up a European Union subsidiary in Luxembourg, the biggest financial services firm so far to announce plans to establish an EU hub as a response to Britain's decision to leave the regional bloc. Several other insurers have said they are looking to set up new centers in the EU if Britain loses access to Europe's single...

  • *Saudi says too early to talk of extending OPEC cut. LONDON, March 8- Oil dropped further below $56 a barrel on Wednesday after an industry report pointed to a large rise in crude inventories in the United States, renewing oversupply concerns despite OPEC output curbs. If the API report of an inventory rise is confirmed by the U.S. Energy Information Administration...

  • YAOUNDE, March 8- Cameroon and the International Monetary Fund are considering a two-year aid program for the Central African country to deliver sustained and inclusive economic growth. Cameroon, which produces oil, cocoa and coffee and is the largest economy in the region, has weathered the problems better than others and its medium term outlook is positive...

  • YAOUNDE, March 8- Cameroon and the International Monetary Fund are considering a two-year aid programme for the Central African country to deliver sustained and inclusive economic growth. Cameroon, which produces oil, cocoa and coffee and is the largest economy in the region, has weathered the problems better than others and its medium term outlook is...