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OPEC+ affirms commitment to oil cuts, defers decision to extend

12 hours ago DieselGasoil Comments Off on OPEC+ affirms commitment to oil cuts, defers decision to extend
By Dina Khrennikova, Zulfugar Agayev and Annmarie Hordern on 3/18/2019 Photo: Rusiian Energy Minister Alexander Novak. BAKU (Bloomberg) — Saudi Arabia led fellow members of the OPEC+ coalition to reaffirm their commitment to output cuts, but conceded they should defer until June the decision on whether to extend the curbs. A committee of the most Read More

OPEC urges oil producers to prevent return of surplus this year

4 days ago DieselGasoil Comments Off on OPEC urges oil producers to prevent return of surplus this year
By Grant Smith on 3/14/2019 LONDON (Bloomberg) — OPEC’s secretariat urged oil producers to keep going with efforts to prevent a surplus this year, as supplies from their rivals increase faster than world demand. Key OPEC members and their allies will meet this weekend in Baku, Azerbaijan, to review output curbs they’ve been implementing to Read More

U.S. cuts oil production forecast for the first time in six months

6 days ago DieselGasoil Comments Off on U.S. cuts oil production forecast for the first time in six months
By Stephen Cunningham on 3/13/2019 WASHINGTON (Bloomberg) — The U.S. government cut its oil production forecast for the first time in six months as drillers scale back in smaller shale plays and the U.S. Gulf of Mexico. While crude output is still expected to reach record levels, the Energy Information Administration trimmed its 2019 forecast to Read More

Oil rises on ongoing OPEC-led supply cuts, fall in U.S. rig count

1 week ago DieselGasoil Comments Off on Oil rises on ongoing OPEC-led supply cuts, fall in U.S. rig count
SINGAPORE (Reuters) – Oil prices rose on Monday, lifted by comments from Saudi oil minister Khalid al-Falih that an end to OPEC-led supply cuts was unlikely before June and a report showing a fall U.S. drilling activity. FILE PHOTO: An oil pump is seen operating in the Permian Basin near Midland, Texas, U.S. on May Read More

Oil rises as OPEC's output cuts set to continue, U.S. drilling activity slumps

1 week ago DieselGasoil Comments Off on Oil rises as OPEC's output cuts set to continue, U.S. drilling activity slumps
SINGAPORE (Reuters) – Oil prices edged up on Monday after Saudi oil minister Khalid al-Falih said an end to OPEC-led supply cuts was unlikely before June, while a report showed U.S. drilling activity fell for a third straight week. FILE PHOTO: An oil pump is seen operating in the Permian Basin near Midland, Texas, U.S. Read More

Deutsche, Commerzbank tentatively talk about merger after months of speculation: source

1 week ago DieselGasoil Comments Off on Deutsche, Commerzbank tentatively talk about merger after months of speculation: source
FRANKFURT (Reuters) – The management board of Deutsche Bank has agreed to hold talks with rival Commerzbank on the feasibility of a merger, a person with knowledge of the matter told Reuters on Saturday. FILE PHOTO: Christian Sewing, CEO of Deutsche Bank AG, addresses the media during the bank’s annual news conference in Frankfurt, Germany, Read More

Oil retreats as surprise jump in U.S. stockpiles hints at glut

2 weeks ago DieselGasoil Comments Off on Oil retreats as surprise jump in U.S. stockpiles hints at glut
By Alex Nussbaum on 3/6/2019 NEW YORK (Bloomberg) — Oil retreated for the second day in a row after U.S. crude stockpiles ballooned, casting a shadow over OPEC’s efforts to avert a global glut. Futures in New York closed 0.6% lower on Wednesday after the U.S. Energy Information Administration said domestic oil inventories grew by Read More

U.S. economic growth in 2018 misses Trump's 3 percent target

3 weeks ago DieselGasoil Comments Off on U.S. economic growth in 2018 misses Trump's 3 percent target
WASHINGTON (Reuters) – The U.S. economy fell short of the Trump administration’s 3 percent annual growth target in 2018 despite $1.5 trillion in tax cuts and a government spending blitz, and economists say growth will only slow from here. A better-than-expected performance in the fourth quarter pushed gross domestic product up 2.9 percent for the Read More

Asian stocks fall as trade hopes wane, U.S.-North Korea summit ends early

3 weeks ago DieselGasoil Comments Off on Asian stocks fall as trade hopes wane, U.S.-North Korea summit ends early
TOKYO (Reuters) – Asian stocks fell on Thursday as investors dialed back some of their recent optimism about a Sino-China trade deal while news that the U.S.-North Korean summit in Hanoi was ending early rattled confidence late in the trading day. FILE PHOTO – Visitors look at a stock quotation board at Tokyo Stock Exchange Read More

Asian stocks shaky as Sino-U.S. trade optimism retreats

3 weeks ago DieselGasoil Comments Off on Asian stocks shaky as Sino-U.S. trade optimism retreats
TOKYO (Reuters) – Asian stocks struggled for traction on Thursday after cautious comments from U.S. Trade Representative Robert Lighthizer deflated some optimism that China and the United States were closing in on a trade deal. FILE PHOTO – Visitors look at a stock quotation board at Tokyo Stock Exchange in Tokyo Japan, October 11, 2018. Read More