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World Economy International Organizations

  • *Output caps kept unchanged; Nigeria, Libya still exempt. VIENNA, May 25- OPEC and non-members led by Russia decided on Thursday to extend cuts in oil output by nine months to March 2018 as they battle a global glut of crude after seeing prices halve and revenues drop sharply in the past three years. Oil's earlier price decline, which started in 2014, forced Russia and...

  • BOGOTA, May 25- Colombia's economy has proved resilient despite the global fall in oil prices but should adopt OECD recommendations for reforms in everything from education to infrastructure, the OECD said in a report on Thursday. The Organization for Economic Co-operation and Development said solid macroeconomic policy and some tax reforms made Colombia "...

  • BOGOTA, May 25- Colombia's economy has proved resilient despite the global fall in oil prices but should adopt OECD recommendations for reforms in everything from education to infrastructure, the OECD said in a report on Thursday. The Organization for Economic Co-operation and Development said solid macroeconomic policy and some tax reforms made Colombia "...

  • BOGOTA, May 25- Colombia's economy has proved resilient despite the global fall in oil prices but should adopt OECD recommendations for reforms in everything from education to infrastructure, the OECD said in a report on Thursday. The Organization for Economic Co-operation and Development said solid macroeconomic policy and some tax reforms made Colombia "...

  • BOGOTA, May 25- Colombia's economy has proved resilient despite the global fall in oil prices but should adopt OECD recommendations for reforms in everything from education to infrastructure, the OECD said in a report on Thursday. The Organization for Economic Co-operation and Development said solid macroeconomic policy and some tax reforms made Colombia "...

  • *Oil majors drop after OPEC deal. An OPEC meeting in Vienna that disappointed some investors failed to move broader indexes but sent oil prices lower, making the energy sector the biggest sectoral faller in the region. Milan- based fund manager Anthilia Capital in Milan downgraded its exposure to euro zone stocks even though the European economy remained...

  • *OPEC agrees to extend output cuts for nine months. NEW YORK, May 25- Oil prices fell about 4 percent on Thursday, on track for their biggest daily drop in three weeks, after OPEC's decision to extend production curbs fell short of expectations of deeper or longer cuts. As expected, the Organization of the Petroleum Exporting Countries, along with other non- OPEC...

  • *OPEC agrees to extend output cuts for nine months. *Non-OPEC producers join OPEC in extending supply agreement. As expected, the Organization of the Petroleum Exporting Countries, along with other non- OPEC members, agreed to extend a cut in oil supplies of 1.8 million barrels per day until the end of the first quarter of 2018 to reduce a glut of supply.

  • ABUJA, May 25- Nigeria's Senate passed a long-awaited oil governance bill on Thursday which the president of parliament's upper chamber said would improve transparency in the OPEC member's energy industry and stimulate growth in the sector. The Petroleum Industry Governance Bill is one part of proposed reforms that make up the sprawling Petroleum...

  • U.S., BRENT CRUDE FUTURES EXTEND LOSSES, DOWN BY $2 A BARREL AFTER OPEC EXTENSION OF OIL OUTPUT CUTS.

  • VIENNA, May 25- OPEC and non-members led by Russia decided on Thursday to extend cuts in oil output by nine months to March 2018 as they battle a global glut of crude after seeing prices halve and revenues drop sharply in the past three years. Oil's earlier price decline, which started in 2014, forced Russia and Saudi Arabia to tighten their belts and led to unrest in...

  • *Europe stocks near highs; miners, energy weigh. NEW YORK, May 25- World stock markets scaled fresh highs on Thursday, with key U.S. indexes lifted by rosy retailer results, while the U.S. dollar dipped and oil prices fell after top oil producers extended output cuts for a shorter period than expected. Oil prices fell as OPEC prepared to extend supply curbs by nine...

  • VIENNA, May 25- Non-OPEC oil producers led by Russia agreed on Thursday to join OPEC in extending production cuts for nine months until March 2018, OPEC delegates said. The combined cap on oil output for the Organization of the Petroleum Exporting Countries and non-members was agreed at around 1.8 million barrels per day. The next OPEC and non- OPEC meeting is...

  • U.S., BRENT CRUDE FUTURES DOWN BY $1 A BARREL AFTER OPEC EXTENDS OIL OUTPUT CUTS BY 9 MONTHS.

  • *OPEC ends meeting, Kuwait says cuts extended to March 2018. VIENNA, May 25- OPEC decided on Thursday to extend cuts in oil output by nine months to March 2018 as the producer group battles a global glut of crude after seeing prices halve and revenues drop sharply in the past three years. Oil's earlier price decline, which started in 2014, forced Russia and Saudi...

  • VIENNA, May 25- OPEC ministers were forced by Texas shale oil producers on Thursday to extend a supply cut into 2018, a regulator from the U.S. state said. "Texas shale producers forced OPEC this morning to extend its oil production cuts for nine months," said Ryan Sitton, of the Texas Railroad Commission. "Less OPEC oil on the market enhances the opportunity for...

  • President Trump arrives at NATO HQ

    CNBC's Hadley Gamble reports from Brussels as President Trump arrives at NATO headquarters.

  • *OPEC agrees to extend output cuts for nine more months. *Saudi, Iran say deeper OPEC, non- OPEC cuts not needed. LONDON, May 25- Oil prices fell on Thursday as OPEC prepared to extend limits to production by nine months to March 2018 in an attempt to drain a glut that has depressed markets for almost three years.

  • ROME/ MILAN, May 25- Italy's economy minister sought to reassure investors on Thursday that they will not be hit in a rescue of two ailing regional banks, Popolare di Vicenza and Veneto Banca, after fears of a "bail-in" hit the lenders' debt. Italy has been seeking European Union approval for months to rescue the two banks based in the northeastern Veneto region and...

  • *Wall Street seen opening higher, VIX lowest since May 10. *Oil up as OPEC agrees to extend output cuts, some expected more. Index futures indicated Wall Street would open higher, building on Wednesday's record closing high in the S&P 500.