Editor Brian Harrod Provides Comprehensive up-to-date news coverage, with aggregated news from sources all over the world from the Roundup Newswires Network
Category Archives: OPEC (Organization of the Petroleum Exporting Countries)
Russia's oil-dependent economy is expected to grow from 2017 onwards, supported by higher global crude prices and oil production rising to new post-Soviet highs, the World Bank said on Tuesday. The international lender said it expected Russian gross domestic product to grow by 1.3 percent in 2017 and by 1.4 percent in 2018 and 2019, following two years of economic contraction.
Brent crude fell below 47 U.S. dollars per barrel in early morning trading to lows not seen since late November, as fears over a global glut caused jitters in the commodity market. But after getting an initial lift from the deal, prices slipped into a downward spiral in mid-April.
Libya's crude production rebounded to more than 700,000 barrels a day as the OPEC member's biggest oil field and another deposit in its western region resumed pumping after a halt. The Sharara field is currently producing 216,400 barrels a day, while the El Feel, or Elephant, deposit is pumping 26,500 and is expected to boost output further, Jadalla Alaokali, a board member at the National Oil Corp., said Sunday by phone. Crude from Sharara Clashes between armed groups and closures of fields have disrupted output as the country with Africa's largest crude reserves struggles to revive its most important industry.
Dubbed the Aquos R, it features some top-tier specs with a lot of hype around the display technology and included artificial intelligence. The latter is supposedly going to learn all of your usage habits, like we're all used to, but when when paired with rotating the Robocle charging dock, it can cross the line into creepy.
Gulf Arab oil producers have reached an agreement about a possible extension of output cuts beyond June to reduce stockpiles of crude, Oman's oil minister said. His Saudi Arabian counterpart confirmed that producers arrived at an initial deal on prolonging the cuts.
First-quarter announcement season is shaping up to be stunning, with the strongest sales and earnings for the S&P 500 we've seen in years. It will be interesting to see if these positive sales and earnings reports can overpower any potentially negative political and international events.
Obama warned Assad the use of chemical or biological weapons would cross a "red line" for the U.S.in 2012. The US missile strike on a Syrian airbase came days after the chemical attack that killed scores in Idlib but years after the evidence began piling up of brutality, torture, the deliberate targeting of civilians, medical facilities and aid and the repeated use of chlorine by forces fighting to defend Bashar al-Assad's regime.
This morning, the Dow Jones Industrial Average is ticking higher as investors watch oil prices and an update to U.S. economic growth. GDP levels have been frustratingly low over the last eight years.
German chancellor Angela Merkel speaks with U.S. president Barack Obama at Schloss Elmau hotel near Garmisch-Partenkirchen, southern Germany, Monday June 8, 2015 during the G-7 summit. Nicolas Sarkozy has dropped out of the race to be next French president.
Oil prices rose on Tuesday, ahead of the U.S. presidential election, as investors unwound some of their recent bets against economically sensitive assets such as crude and equities. In a swell of investor risk appetite, U.S. stocks racked up their biggest one-day gain since March on Monday, which fed into an easing in the dollar that underpinned more risk-linked assets such as oil, copper and European equities on Tuesday.
Bonds rose as a plunge in crude oil eased concern that quickening inflation would erode the value of fixed interest payments. Stocks were little changed.
US futures pointed to negative open on Wall Street as worries about Deutsche Bank and the broader financial sector continued to weigh on investors' minds, although losses looked set to be fairly limited after Thursday's decline. At 1140 BST, Dow Jones Industrial Average and Nasdaq futures were down 0.3%, while S&P 500 futures were 0.2% weaker.
U.S. stocks are lower Thursday as EpiPen maker Mylan and other drug companies face scrutiny over increases in product prices. Oil prices are little changed after a big surge a day ago, but companies that drill for oil are climbing.
Oil prices declined after Saudi Arabia and Iran dashed market hopes that they would find a compromise this week at meeting in Algiers to help ease a global glut of crude. Saudi Energy Minister Khalid al-Falih told reporters he did not expect an agreement to come out of the consultations on the last day of the Sept.
Global oil market stability is impossible without the cooperation of Russia and Saudi Arabia, the world's biggest crude producers, the kingdom's influential deputy crown prince said after speaking with Vladimir Putin ahead of an OPEC meeting later this month. Saudi Arabia hopes to work with Russia for oil market stability, Mohammed bin Salman said after meeting with the Russian president in Hangzhou, China, Sunday.