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World Economy International Organizations

  • HOUSTON, March 7- Compliance among top global oil producers with a deal to curb global supplies should improve in February from January, OPEC Secretary Secretary-General Mohammad Barkindo said on Tuesday.

  • KOPAONIK, Serbia, March 7- Serbia's structural reforms still have a long way to go, an International Monetary Fund official said on Tuesday, but added that the lender no longer believes the country needs to cut interest rates for the moment. James Roaf, the head of the IMF mission for Serbia, told Reuters that implementation of a 1.2 billion euro precautionary loan...

  • *Warns "no free ride" for non- OPEC producers. The kingdom led a pact between the Organization of the Petroleum Exporting Countries and other major producers, such as Russia and Kazakhstan, to cut global crude output by about 1.8 million barrels per day from Jan. 1, and bring supply closer to demand. Saudi Arabia had cut beyond what it had pledged in the agreement and...

  • *Warns "no free ride" for non- OPEC producers. The kingdom led a pact between the Organization of the Petroleum Exporting Countries and non- OPEC producers, such as Russia and Kazakhstan, to cut global crude output by about 1.8 million barrels per day from Jan. 1, and bring supply closer to demand. Saudi Arabia had cut beyond what it had pledged in the agreement and...

  • *Saudi cut production by more than required in OPEC agreement. NEW YORK, March 7- Oil prices were little changed on Tuesday, giving up gains after Saudi Arabia's oil minister gave mixed messages on future OPEC production cuts, while the market also braced for data that was expected to show a ninth straight weekly increase in U.S. crude inventories.

  • BRUSSELS, March 7- The world's financial leaders may no longer explicitly reject protectionism or competitive currency devaluations, a draft communique of their meeting next week showed, promising only to keep an "open and fair international trading system". Finance ministers and central bank heads from the world's 20 developed and developing economies...

  • HOUSTON, March 7- Saudi Oil Minister Khalid al-Falih said on Tuesday that oil market fundamentals were improving as an agreement to curb supply by OPEC and non- OPEC producers took effect. He said Saudi Arabia does not want OPEC to intervene in the oil market to address long-term structural shifts, but would support measures to address "short-term aberrations.

  • HOUSTON, March 7- Saudi Oil Minister Khalid al-Falih said on Tuesday that oil market fundamentals are improving as an agreement to curb supply by OPEC and non- OPEC producers took effect. He said Saudi Arabia does not want OPEC to intervene in the oil market to address long-term structural shifts, but would support measures to address "short-term aberrations."

  • *Russia, Iraq say too early to discuss extending output cut. LONDON, March 7- Oil prices firmed on Tuesday but stayed in a tight range, with investors seeking a clearer direction from inventory data and comments from oil officials as rising U.S. shale output offset OPEC production cuts. Capping any upsurge has been an increase in U.S. shale oil drilling after WTI rose...

  • LONDON, March 7- British consumers are feeling the strain of rising prices caused by last year's Brexit vote, suggesting the economy is heading for a slowdown just as London gears up for divorce talks with the European Union, surveys and data showed on Tuesday. After helping the economy withstand the immediate Brexit shock last year, consumers are reining in...

  • LONDON, March 7- Oil prices were little changed on Tuesday, trading in a tight range as rising U.S. shale output offset OPEC crude production cuts, with investors seeking clearer direction from upcoming inventory data and comments from senior oil officials. Oil prices have been entrenched in a $3 band since February, failing to take off after OPEC implemented, to a...

  • *Signs of slowdown appearing as UK gears up to trigger Brexit. *Annual house price growth cools to weakest since 2013- Halifax. LONDON, March 7- British consumers are feeling the strain of rising prices caused by last year's Brexit vote, suggesting the economy is heading for a slowdown just as London gears up for divorce talks with the European Union, surveys and data...

  • LONDON, March 7- Oil prices were little changed on Tuesday, trading in a tight range as rising U.S. shale output offset OPEC crude production cuts, with investors seeking clearer direction from upcoming inventory data and comments from senior oil officials. Oil prices have been entrenched in a $3 band since February, failing to take off after OPEC implemented, to a...

  • The Paris- based Organisation for Economic Cooperation and Development estimated global economic growth would run at 3.3 percent this year before reaching 3.6 percent in 2018, unchanged from its last estimates in November. OECD chief economist Catherine Mann said that higher interest rates in the United States could unleash damaging volatility on...

  • *Russia, Iraq say "too early" to discuss extending output curbs. SINGAPORE, March 7- Oil prices were little changed for a third session on Tuesday, with investors searching for direction as concern over rising U.S. shale output offsets production cuts by OPEC and non- OPEC members. Brent crude was down 9 cents, or 0.1 percent, at $55.92 a barrel as of 0745 GMT, with a firmer...

  • *India says requirement for local steel will be WTO compliant. *India fears reliance on Chinese imports- steel ministry paper. NEW DELHI, March 7- India may soon mandate the use of local steel in government infrastructure projects worth billions of dollars, sources said, pitching it as a WTO-compliant protectionist measure aimed at further cutting cheap imports,...

  • *Russia, Iraq say "too early" to discuss extending output curbs. SINGAPORE, March 7- Oil prices were little changed for a third session on Tuesday, with investors searching for direction as concern over rising U.S. shale output offsets production cuts by OPEC and non- OPEC members. As of 0545 GMT, brent crude was down 11 cents, or 0.2 percent, at $55.90 a barrel, with a firmer...

  • WELLINGTON, March 7- The International Monetary Fund warned on Tuesday that high levels of household debt tied up in property are a risk to New Zealand's financial stability and backed the central bank's lobby for new tools to deal with the red-hot housing market. New Zealand house prices, among the fastest growing in the developed world, rose 13.5 percent in the...

  • *Russia, Iraq say "too early" to discuss extending output curbs. SINGAPORE, March 7- Oil prices were little changed for a third session on Tuesday, with investors searching for direction as concern over rising U.S. shale output offsets production cuts by OPEC and non- OPEC members. Brent crude dipped 7 cents, or 0.1 percent, to $55.94 a barrel as of 0229 GMT, with a firmer...

  • *Iraq would adhere to an extension. HOUSTON, March 6- Russia and Iraq said on Monday it was too early to discuss an extension of a historic deal to curb oil output beyond June while cash-strapped Angola supported the move to boost oil prices. Members of the Organization of the Petroleum Exporting Countries including Iraq and non- OPEC countries such as Russia last...