Facebook's cryptocurrency project has already been met with skepticism from policymakers around the world.Technologyread more
The U.S. and China restarted their trade talks, but signs are showing a comprehensive deal could be a long way off, if it happens at all.Marketsread more
Stone, 66, a notorious Republican political operative who has described himself as a "dirty trickster," had previously been dressed down by the judge for his public remarks...Politicsread more
The Biden team's second quarter Federal Election Commission filing shows that the campaign wrote a check of just over $5,300 on June 28 to Sheehan Associates for "strategic...2020 Electionsread more
The largest U.S. banks are scrutinizing members of the Federal Reserve for any insight into how the central bank will tinker interest rates.Banksread more
United Airlines' second-quarter profit tops estimates but questions about the 737 Max linger.Airlinesread more
Charles Evans spoke Tuesday at CNBC's @Work Human Capital + Finance Conference in Chicago. The Fed president said he is worried about low inflation and several other issues.At Workread more
But it's important to separate this very real threat from Thiel's specific allegations about Google, which were presented without proof, and from his claims that Google has...Technologyread more
In prepared remarks for a congressional hearing, Facebook says Instagram and WhatsApp have had a greater chance to thrive after merging.Technologyread more
Tenney told CNBC she met earlier this year with leaders from the National Republican Congressional Committee, who encouraged her to run for the New York 22nd District seat she...2020 Electionsread more
The speech comes as market participants are strongly anticipating a rate cut at the July 30-31 Federal Open Market Committee policy meeting.The Fedread more
minister@ (Adds quotes, details, background)
MOSCOW, April 13 (Reuters) - Russia and OPEC may decide to boost production to fight for market share with the United States but this would push oil prices as low as $40 per barrel, TASS news agency ited Russia's Finance Minister Anton Siluanov as saying on Saturday.
"There is a dilemma. What should we do with OPEC: should we lose the market, which is being occupied by the Americans, or quit the deal?" Anton Siluanov, speaking in Washington, said, TASS reported.
"(If the deal is abandoned) the oil prices will go down, then the new investments will shrink, American output will be lower, because the production cost for shale oil is higher than for traditional output."
Siluanov said oil prices could drop to $40 per barrel or even less for up to one year.
The minister said there had been no decision on the deal yet and he did not know whether OPEC countries would be happy with this scenario.
OPEC, Russia and other producers, an alliance known as OPEC+, are reducing output by 1.2 million bpd from Jan. 1 for six months. They meet on June 25-26 to decide whether to extend the pact.
The combined supply cuts have helped to drive a 32 percent rally in crude prices this year to nearly $72 a barrel, prompting U.S. President Donald Trump to call on OPEC to ease its market-supporting efforts. OPEC has said the curbs must remain, but there are signs that stance is now softening.
Earlier this week, sources familiar with the matter told Reuters that OPEC could raise oil output from July if Venezuelan and Iranian supply drops further and prices keep rallying, because extending production cuts with Russia and other allies could overtighten the market. (Reporting by Maxim Rodionov. Editing by Jane Merriman)