Huawei CEO Ren Zhengfei laid out plans to bring more efficiencies to the organization. This included simplifying the reporting structure, cutting down on surplus staff, axing...Technologyread more
The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
China has used both monetary and fiscal measures to lift economic activity as its trade war with the U.S. looks set to intensify in the coming months.China Economyread more
President Donald Trump said on Twitter he was postponing a scheduled meeting with Denmark's prime minister because of her lack of interest in discussing a possible sale of...World Politicsread more
"I think (rate cuts) will help, but whether they're going to be sufficient to counter the negative trade pressures and global growth slowdown and impact is debatable," one...Central Banksread more
Chinese overseas investment growth will likely slow or even decline in the next few years as risks around the world increase, according to new research by Moody's Investors...China Economyread more
The two countries want to smash the civil aerospace duopoly enjoyed by Airbus and Boeing.Aerospace & Defenseread more
Alibaba held a board meeting before its latest quarterly earnings release last week, during which the board decided to postpone the Hong Kong listing, Reuters reported.Technologyread more
Federal Reserve Chairman Jerome Powell is set to deliver his annual speech on Friday at the Jackson Hole, Wyoming symposium, where he's expected to provide more clarity on the...Asia Marketsread more
U.S. and Asian investors poured $3.7 billion into U.K. tech start-ups in the first seven months of 2019, research shows.Technologyread more
After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
Oil market conditions should improve over the coming months, BP CEO Bob Dudley told CNBC on Tuesday.
His comments come at a time when energy market participants expect U.S. sanctions on crisis-stricken Venezuela, as well as OPEC-led production cuts, to offset a potential supply glut this year.
"As we look it, it feels like the markets will be firmer," Dudley said, when asked for his energy market forecast for 2019.
"I couldn't predict the oil price but we are planning BP between $50 and $65," he added.
The Middle East-dominated group began capping supply in partnership with Russia and several other nations in January 2017 to end a punishing downturn in oil prices.
"I think there's a lot of uncertainty (in oil markets) we're looking at a high volatility for this year," Joseph Gatdula, head of oil and gas at Fitch Solutions, told CNBC's "Squawk Box Europe" on Tuesday.
"All that uncertainty is based on a few known events that we have, the Iranian sanctions waivers and the Venezuelan sanctions but also the OPEC-plus cuts, those are expected to go for the first six months of the year — and then it's uncertain what's going to happen," he added.
The oil industry is generally optimistic that the measures imposed by OPEC and non-OPEC members could help balance the energy market over the coming months.
Meanwhile, most analysts expect U.S. sanctions targeting Venezuela's crude industry to sharply limit oil transactions between Caracas and other countries.
"The cost of producing a barrel of oil will remain at an economically viable level in the foreseeable future, even if prices fall below $50 a barrel just like they did less than two months ago," Tamas Varga, senior analyst at PVM Oil Associates, said in a research note published Tuesday.
Late last month, the U.S. imposed sweeping sanctions on oil firm PDVSA.
The measures against Venezuela's state-run oil company are the strongest yet against President Nicolas Maduro, who has overseen an economic collapse and an exodus of millions of Venezuelans in recent years.