"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Yields slipped after Powell said that the central bank will continue to act as appropriate to sustain the economic expansion.Bondsread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The president tweeted Friday morning that he was ordering "our great American companies" to "immediately start looking for an alternative to China."Marketsread more
Multinationals that rely on the supply chain from China are tumbling after President Donald Trump ordered them to find alternatives to their Chinese operations.Marketsread more
Semiconductor stocks and shares of Apple slid on Friday after President Donald Trump said U.S. companies should "immediately start looking for an alternative" to their...Technologyread more
The two American car companies are among the top exporters of U.S.-produced vehicles to China along with BMW and Daimler/Mercedes-Benz, according to industry data obtained by...Autosread more
Powell repeats his pledge to keep the economic expansion going while acknowledging that tariffs and other factors are causing growth to slow.The Fedread more
These are the stocks posting the largest moves in midday trading.Market Insiderread more
- RIA@ (Adds details, quotes, background)
MOSCOW, April 30 (Reuters) - A global deal on oil production led by Russia and Saudi Arabia could be extended to the end of 2019, Saudi Energy Minister Khalid al-Falih told RIA news agency on Tuesday, without specifying whether or how much output levels could change.
The Organization of the Petroleum Exporting Countries, Russia and other producers, an alliance known as OPEC+, agreed late last year to cut output by 1.2 million barrels per day in an effort to boost oil prices.
They meet on June 25-26 to decide whether to extend the pact.
Earlier in April, Moscow signalled OPEC and its allies could raise oil output from June because of improving market conditions and falling stockpiles.
"We will look at (global oil) inventories - are they higher or lower than the normal level and we will adjust the production level accordingly. Based on what I see now ... I am eager to say there will be some kind of agreement," Falih told Russia's RIA.
"It may remain the same, or could change up or down, I don't know."
One of the key players on Moscow's policy towards OPEC is Igor Sechin, head of Russian state oil company Rosneft .
Sechin, an ally of President Vladimir Putin, says Russia is losing market share to the United States, which is not participating in production cuts and has boosted output to record levels of some 12 million bpd.
Last week, Sechin signalled Russia would not help replace Iranian oil on the market after the expiration of waivers on U.S. sanctions against Tehran's crude exports.
Also last week, U.S. President Donald Trump told reporters he had called OPEC and told the group to lower oil prices, without specifying to whom he spoke or whether he was referring to previous discussions with OPEC officials.
Falih, commenting on Trump's statement, told RIA that Saudi Arabia was ready to meet consumer demand after the waivers expire, including by replacing Iranian oil with Saudi supplies.
But Riyadh will not voluntarily exceed output levels set by the global deal, Falih said.
"I confirm our commitment to meet all these requests (to replace Iranian oil). But at the same time, we will do this remaining part of the OPEC+ deal, we will stick to it. We do not need to voluntarily exceed the limits set," he said.
Iranian exports were not significant, Falih said.
"The only indicator I have is consumers' demand for Saudi oil ... These figures are moderate at the moment, the demand is healthy, there is nothing to worry about... There is no shortage on the (global oil) market," Falih said.
He said Saudi oil production until the end of May would be below the level set in the global deal: "significantly less" than 10 million bpd, with exports below 7 million bpd next month.
"We are comfortable with the overall situation on the (global oil) market: it is healthy, it is well-supplied, nothing to worry about," Falih told RIA. (Reporting by Katya Golubkova; Editing by Dale Hudson and Louise Heavens)