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June 7, 2020

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OPEC and allies to agree one-month extension to output cuts

Reuters
by Reuters010
FILE PHOTO: A 3D printed oil pump jack is seen in front of displayed Opec logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration/File Photo BAGHDAD (Reuters) – OPEC and its allies led by Russia are “most likely” to agree on a one-month extension to an oil production cuts......
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Reuters - Business

Oil rises as traders await OPEC+ meeting on extending supply cuts

Reuters
by Reuters010
SEOUL (Reuters) – Oil prices moved higher on Friday as traders await cues from a meeting that could take place as soon as this weekend where major oil producers will discuss whether to extend record production cuts. FILE PHOTO: The Bryan Mound Strategic Petroleum Reserve, an oil storage facility, is......
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Reuters - Business

Oil dips on uncertainty over producers’ commitment to output cuts

Reuters
by Reuters011
SEOUL (Reuters) – Oil prices eased slightly on Friday as markets wait to see whether major producers will commit to an extension of record production cuts to support oil prices. FILE PHOTO: The Bryan Mound Strategic Petroleum Reserve, an oil storage facility, is seen in this aerial photograph over Freeport,......
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CNBC Business

Dubai fines more than 100 beachgoers up to $800 for failing to wear masks, social distance

CNBC
by CNBC08
CNBC – For more and to sign up click here Dubai, United Arab Emirates Jorg Greuel | Stone | Getty Images DUBAI, United Arab Emirates — Dubai police has fined more than 100 people visiting its newly-reopened public beaches in recent days for failing to adhere to coronavirus safety rules, as......
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Reuters - Business

Oil falls from $40 on doubts over early OPEC meeting

Reuters
by Reuters09
LONDON (Reuters) – Oil fell after touching its highest since March at more than $40 a barrel on Wednesday, pressured by doubts that an early meeting of OPEC and its allies to extend existing output cuts will take place. FILE PHOTO: The sun sets behind an oil pump outside Saint-Fiacre,......
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Reuters - Business

Oil tops $40 on OPEC cuts and demand recovery

Reuters
by Reuters09
LONDON (Reuters) – Oil climbed above $40 a barrel for the first time since March on Wednesday, supported by signs of recovery in coronavirus-hit demand, lower U.S. inventories and expectations that OPEC+ will keep oil output cuts in place. FILE PHOTO: The sun sets behind an oil pump outside Saint-Fiacre,......
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Reuters - Business

Brent oil rises to $40 amid hopes for output cuts, recovery

Reuters
by Reuters09
TOKYO (Reuters) – Oil rose on Wednesday, with Brent at $40 for the first time since March, as optimism mounted that major producers will extend production cuts and a recovery from the coronavirus pandemic will spur fuel demand. FILE PHOTO: The sun sets behind an oil pump outside Saint-Fiacre, near......
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Reuters - Business

Oil hits three-month high over hopes for output cuts

Reuters
by Reuters010
FILE PHOTO: The sun sets behind an oil pump outside Saint-Fiacre, near Paris, France September 17, 2019. REUTERS/Christian Hartmann TOKYO (Reuters) – Oil rose on Wednesday to a near three-month high amid optimism that major producers will extend production cuts as the world recovers from the coronavirus pandemic. Brent crude......
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Reuters - Business

U.S. launches trade probe into digital taxes, plowing ground for new tariffs

Reuters
by Reuters08
FILE PHOTO: U.S. Trade Representative Robert Lighthizer listens as U.S. President Donald Trump meets with Bahrain Crown Prince Salman bin Hamad Al Khalifa during a meeting in the Oval Office of the White House in Washington, U.S., September 16, 2019. REUTERS/Al Drago WASHINGTON (Reuters) – The U.S. Trade Representative’s office......
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Reuters - Business

Qatar Petroleum’s $19 bln LNG vessel order boon for S.Korean shipbuilders

Reuters
by Reuters010
SEOUL (Reuters) – South Korea’s ailing shipbuilders have been thrown a lifeline in an increasingly tough market with a $19 billion order from Qatar Petroleum (QP) for liquefied natural gas (LNG) ships, analysts said on Tuesday. FILE PHOTO – Giant cranes of Hyundai Heavy Industries are seen in Ulsan, South......
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Reuters - Business

Oil prices rise ahead of OPEC+ meeting on extended output cuts

Reuters
by Reuters08
SINGAPORE/MELBOURNE (Reuters) – Oil prices rose on Tuesday, with traders waiting to see whether major producers agree to extend their huge output cuts to shore up prices at a virtual meeting expected later this week. FILE PHOTO: Crude oil storage tanks are seen in an aerial photograph at the Cushing......
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Reuters - Business

Oil prices hold ground ahead of OPEC+ meeting on extended output cuts

Reuters
by Reuters09
FILE PHOTO: Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S., April 21, 2020. REUTERS/Drone Base/File Photo MELBOURNE (Reuters) – Oil prices rose in early trade on Tuesday, with traders waiting to see whether major crude producers agree to extend......
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Reuters - Business

Oil steady as OPEC+ considers extension to crude curbs

Reuters
by Reuters07
FILE PHOTO: A pump jack on a lease owned by Parsley Energy operates in the Permian Basin near Midland, Texas U.S. August 23, 2018. Picture taken August 23, 2018. REUTERS/Nick Oxford LONDON (Reuters) – Oil prices were steady on Monday helped by reports that OPEC and Russia were closer to......
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Reuters - Business

Emirates president says could take four years to rebuild network from virus hit

Reuters
by Reuters08
FILE PHOTO – Members of cleaning staff in protective suits board an Emirates Airbus A380 to disinfected it against the coronavirus, in Dubai, United Arab Emirates March 5, 2020. Picture taken March 5, 2020. Emirates Airline/Handout via REUTERS DUBAI (Reuters) – Emirates President Tim Clark said on Monday it could......
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Reuters - Business

Crude prices fall on concerns of U.S. riots, even as OPEC meeting advanced

Reuters
by Reuters07
NEW YORK (Reuters) – Oil prices fell due to concerns about riots in major U.S. cities that could staunch demand after trading higher on optimism that OPEC would extend or enhance production cuts at a meeting in June. FILE PHOTO: A pump jack on a lease owned by Parsley Energy......
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Reuters - Business

Russia has no objection to earlier OPEC+ meeting: sources

Reuters
by Reuters012
FILE PHOTO: A 3D printed oil pump jack is seen in front of the OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration/File Photo MOSCOW/LONDON (Reuters) – Russia has no objection to the next meeting of OPEC and its allies, known as OPEC+, being brought forward to June......
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Reuters - Business

Oil surges 5% on U.S.-China trade optimism, falling crude output

Reuters
by Reuters03
NEW YORK (Reuters) – Oil prices soared on Friday, with U.S. futures closing out May with record monthly gains, on hopes that the U.S.-China trade deal would remain intact and on falling crude production. FILE PHOTO: An oil pump is seen just after sunset outside Saint-Fiacre, near Paris, France September......
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Reuters - Business

Oil mixed on U.S.-China tensions but heads for huge monthly rise

Reuters
by Reuters014
NEW YORK (Reuters) – Oil prices were mixed on Friday, but were closing out the month with strong gains, bolstered growing fuel demand even as investors worried about worsening Washington-Beijing relations. FILE PHOTO: An oil pump is seen just after sunset outside Saint-Fiacre, near Paris, France September 17, 2019. REUTERS/Christian......
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Reuters - Business

Oil lower on U.S.-China tensions but heads for huge monthly rise

Reuters
by Reuters013
NEW YORK (Reuters) – Oil prices eased on Friday on fears of worsening Washington-Beijing relations and lacklustre U.S. fuel demand, but were still headed for sharp monthly gains. FILE PHOTO: An oil pump is seen just after sunset outside Saint-Fiacre, near Paris, France September 17, 2019. REUTERS/Christian Hartmann July Brent......
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Reuters - Business

Oil falls but remains set for biggest monthly gain in years

Reuters
by Reuters011
FILE PHOTO: An oil pump is seen just after sunset outside Saint-Fiacre, near Paris, France September 17, 2019. REUTERS/Christian Hartmann LONDON (Reuters) – Oil prices were dragged sharply lower on Friday by weak U.S. fuel demand, fears of a second wave of coronavirus cases in South Korea and a worsening......
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