Heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States.Agricultureread more
Although Cook did not mention companies by name, his commencement speech in Silicon Valley's backyard mentioned data breaches, privacy violations, and even made reference to...Technologyread more
U.S. ambassador to Israel David Friedman called the gesture a "birthday present" to Trump, who turned 73 on Friday.Politicsread more
Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
Target's registers were down on Saturday for several hours preventing customers from checking out.Retailread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
The newspaper wrote that Goldman's executive are hoping CEO David Solomon's changes to a firm that historically thrived in investment banking and trading will boost its...US Marketsread more
The Fed is not likely to make a move on interest rates when it meets next week, but it should clear the way for a rate cut later in the summer.Market Insiderread more
Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
With uncertainty keeping a lid on U.S. stocks, Ed Clissold of Ned Davis Research says the rest of 2019 is likely to be a "choppy," but somewhat opportunistic, ride for...Futures Nowread more
You can save money by doing a quick check and unsubscribing from apps you no longer use.Technologyread more
Iran on Thursday dismissed any chance of cutting a deal with OPEC and non-OPEC members, saying it would not curb a rise in its output once Western sanctions on the country are lifted next year.
The comments from Iranian oil minister Bijan Zangeneh come as OPEC is meeting on Friday in Vienna amid predictions of another year of painfully low prices because of a worsening global glut.
"We do not accept any discussion about increases of Iran production after the lifting of sanctions. It is our right and anyone cannot limit us to do it. We will not accept anything in this regard," Zangeneh told reporters.
"And we do not expect our colleagues in OPEC to put pressure on us... It is not acceptable, it's not fair," he said, adding that Iran would raise production by up to 1 million barrels per day following years of forced curbs because of Western sanctions on the Islamic Republic over its atomic program.
Zangeneh added that OPEC members have lost so much money with the fall in price and said it seemed that the situation cannot be changed in then near term, according to Reuters.
The comments followed a report in industry publication Energy Intelligence saying Iran's arch-rival Saudi Arabia might propose a global deal to rebalance oil markets, including asking OPEC members Iran and Iraq to limit output growth.
The newsletter cited a senior OPEC delegate as saying Saudi Arabia will call for a 1 million barrels per day (bpd) output cut next year by OPEC, but only if other members and non-members like Russia, Mexico, Oman and Kazakhstan commit to joint action.
Last time OPEC and non-OPEC joined forces to tackle low oil prices was 15 years ago, soon after the 1998 Asian financial crisis. Since then top non-OPEC producer Russia has repeatedly resisted calls for joint action and has instead grown its output by 70 percent.
"It is very difficult to cut one million bpd collectively. The Saudis do not want to change their previous talk. No cut without cooperation," a Gulf OPEC source told Reuters.
Oil prices edged up, though traders remained cautious.
"The market will want to hear from other parties and to have greater assurance that it looked a possibility. Not only that they (the other producers) agree to do it but also that they stick by the agreement," said Ric Spooner, chief analyst at CMC Markets in Sydney.
"The fact that Saudi Arabia has put out a proposal certainly gives it a bit more significance."
Benchmark crude futures moved away from near 2015 lows, with internationally traded Brent up 54 cents by 0815 GMT at $43.03 per barrel and U.S. crude up 38 cents at $40.32.