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World Economy International Organizations

  • *OPEC/ non- OPEC deal compliance at 86 pct in Jan- sources. *OPEC compliance to rise as UAE, Iraq pledge to catch up. Compliance is set to rise even further in coming months as OPEC laggards United Arab Emirates and Iraq have pledged to catch up with their individual targets.

  • *UAE taking steps to ensure full compliance- OPEC governor. LONDON, Feb 24- OPEC has so far surprised the market by showing record compliance with oil-output curbs and could do so further in coming months as the biggest laggards- the United Arab Emirates and Iraq- pledge to catch up quickly with their targets. Iraq and the UAE have delivered smaller portions of their...

  • HASSI MESSAOUD, Algeria, Feb 24- Algeria's biggest oilfield Hassi Messaoud is currently capping production at 430,000 barrels per day to keep it in line with OPEC's agreement to cut output, a Sonatrach official said late on Thursday. Algeria, a major gas supplier to Europe, last year began investing in improving yields at mature fields like Hassi Messaoud and...

  • *OPEC/ non- OPEC deal compliance at 86 pct in Jan- sources. *LBBW cuts year-end Brent price forecast by $5 to $55/ bbl. Their joint compliance with a production-reduction deal reached at the end of last year was around 86 percent in January, according to OPEC sources quoting results from a technical committee meeting held this week.

  • ATHENS, Feb 24- Greek Prime Minister Alexis Tsipras defended a deal reached between Athens and its foreign creditors for further reforms in return for bailout aid, saying it was an' honourable compromise'. Tsipras said he believed relations between the country and the European Union and International Monetary Fund had turned a page after seven years in...

  • *OPEC/ non- OPEC deal compliance at 86 pct in Jan- sources. *U.S., Asia traders start selling most costly stored crude. Their joint compliance with a production-reduction deal reached at the end of last year was around 86 percent in January, according to OPEC sources quoting results from a technical committee meeting held this week.

  • NEW YORK/ HOUSTON, Feb 24- Traders are turning the spigots to drain the priciest storage tanks holding U.S. crude stockpiles as strengthening markets make it unprofitable to store for future sale and cuts in global production open export opportunities. From Houston through Louisiana to floating storage in the Gulf of Mexico, traders are starting to ship crude...

  • SINGAPORE, Feb 24- Traders are selling oil held in tankers anchored off Malaysia, Singapore and Indonesia in a sign that the production cut led by OPEC is starting to have the desired effect of drawing down bloated inventories. Yet in the short-term, the crude released from tankers will weigh on markets and possibly undermine OPEC's goal of achieving a balanced...

  • West Texas Intermediate fell 13 cents, or 0.2 percent, to $54.32 a barrel by 0048 GMT, having closed up 86 cents in the previous session. On Thursday, sources told Reuters that the joint OPEC/ non- OPEC technical committee reported an 86 percent compliance on the oil cuts in January. Earlier, sources reported over 90 percent compliance within OPEC.

  • MEXICO CITY, Feb 23- Mexico is increasingly confident that U.S. Trump wants to renegotiate the North American Free Trade Agreement with Mexico and Canada, but talks cannot begin until he triggers a 90- day notice period by informing Congress. The view of some Mexican officials and business leaders that the U.S. Congress, Supreme Court and some state governors are...

  • *OPEC/ non- OPEC show 86 pct compliance with cuts in Jan- sources. NEW YORK, Feb 23- Oil prices rose on Thursday but gains were pared after U.S. government data showed a seventh straight build in crude stocks, suggesting high inventories could undermine OPEC's move to cut output. OPEC and producers including Russia aim to cut production by around 1.8 million barrels...

  • BRUSSELS, Feb 23- European Commission President Jean-Claude Juncker said on Thursday that the EU should make it easier for some member states to deepen their integration in some areas without the whole bloc following suit. The European Union executive will make proposals in a high-profile policy White Paper it will publish next week, Juncker said in a speech...

  • GENEVA/ BRUSSELS, Feb 23- Russia lost its appeal on Thursday against a World Trade Organization ruling on its ban on imports of European Union pigs and pork products. Thursday's ruling means Russia will be expected to bring its rules into line with the WTO's. If the EU is not satisfied that it has done so, it could ask to be allowed to impose sanctions on Russia to...

  • NEW YORK, Feb 23- Oil prices rose but gains were pared Thursday after U.S. government data showed a seventh straight build in crude stocks, suggesting high inventories could undermine OPEC's move to cut output. OPEC and producers including Russia aim to cut production by around 1.8 million barrels per day to drain an oversupply that has kept prices depressed for...

  • GENEVA, Feb 23- Russia lost its appeal on Thursday against a World Trade Organization ruling on its ban on imports of European Union pigs and pork products. Russia imposed the ban after a handful of cases of African swine fever in some EU areas in 2014, invoking sanitary and phytosanitary measures allowed under WTO rules. Russia appealed, and the WTO's Appellate...

  • WORLD TRADE ORGANIZATION APPEAL JUDGES UPHOLD EUROPEAN UNION COMPLAINT ABOUT RUSSIAN IMPORT BAN ON PIGS AND PORK PRODUCTS.

  • WASHINGTON, Feb 23- The International Monetary Fund on Thursday urged Nigeria to step up its economic reform efforts before the opportunity for reforms becomes more limited. "Urgency is needed in implementing a coherent and credible package of monetary, fiscal and structural policies as the window for bold reforms is closing as the 2019 elections are...

  • TREASURY SECRETARY MNUCHIN SPOKE ABOUT GREECE AS PART OF WIDE-RANGING PHONE CALL EARLIER THIS WEEK, DECLINES COMMENT ON SPECIFICS.

  • IMF SPOKESMAN SAYS NIGERIAN AUTHORITIES HAVE NOT APPROACHED IMF FOR A PROGRAM, BUT STANDS READY TO HELP SHOULD NIGERIA MAKE A REQUEST FOR FINANCIAL ASSISTANCE.

  • IMF SPOKESMAN SAYS IMF PARTICIPATION ON GREECE IS CONTINGENT ON DISCUSSIONS WITH OTHERS ON ECONOMIC REFORM POLICIES AND DEBT RELIEF.