The leaders of Japan and China got off to a tense start but have made significant progress in turning around their relations in recent years.Asia Politicsread more
Tech's hottest IPOs of the year, including Beyond Meat and Zoom, dropped on Monday, falling more than the broader market.Technologyread more
Stocks in Asia slipped on Tuesday, while investors looked toward a meeting between U.S. President Donald Trump and Chinese President Xi Jinping set to happen later in the...Asia Marketsread more
A week of dovish fireworks out of the central banking community has just gone by with most of the world's leading central banks now guiding towards easing in light of downside...Commentaryread more
"We do not seek conflict with Iran or any other country," Trump tells reporters in the Oval Office.Politicsread more
Chinese Vice Premier Liu He held a phone conversation with U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin, China's Ministry of Commerce...World Economyread more
Sen. Bernie Sanders announced a plan Monday to forgive the country's $1.6 trillion outstanding student loan tab, intensifying the higher education policy debate in the 2020...Personal Financeread more
While earnings usually come in substantially ahead of expectations — as much as 4 or 5 percentage points is not unusual — the downward direction in the outlook doesn't speak...Earningsread more
U.S. President Donald Trump's senior adviser Kellyanne Conway will not testify before the House of Representatives Oversight Committee this week on her alleged violations of...Politicsread more
"We missed being the dominant mobile operating system by a very tiny amount. We were distracted during our antitrust trial. We didn't assign the best people to do the work,"...Technologyread more
PatientsLikeMe was bought by UnitedHealth following a review by Trump's Treasury Department, which scrutinized the start-up because it's backed by Chinese cash.Technologyread more
ST PETERSBURG, Russia, June 6 (Reuters) - Lukoil, Russia's second-biggest oil producer, plans to propose that Moscow extend its participation in a global oil production-cutting deal at existing terms to the end of this year, its chief executive Vagit Alekperov told Reuters.
Russia and some other non-OPEC members along with OPEC countries plan to meet in June or July to discuss whether to extend or change the deal, under which Moscow has pledged to cut its oil production by 228,000 barrels per day (bpd).
"I believe that the level of 228,000 bpd is a relatively small amount and we saw the effect we got," Alekperov said, referring to an increase in oil prices.
"So I will propose maintaining the deal and monitoring (global oil) inventories, excluding Iran."
He said the global oil industry, which produces around 100 million bpd, is still exploiting investments made before a sharp fall in oil prices several years ago, with no major oil discoveries globally in the recent past.
Given falling production in Venezuela and restrictions on Iranian oil exports, the global oil industry should be very cautious and safeguard oil price stability, Alekperov said, including via the production pact.
Alekperov said Lukoil plans to spend $2-3 billion on upstream purchases, mainly outside Russia.
Lukoil's oil production, inside and outside Russia, is seen at around 85-86 million tonnes (1.71-1.73 million bpd) this year, he said. (Reporting by Olesya Astakhova and Katya Golubkova Editing by Christian Lowe and Dale Hudson)