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by Roland JACKSON / John BIERS Agence France Presse NEW YORK, United States (AFP) — Global stocks pushed higher Wednesday on renewed optimism over talks to resolve the China-US trade war, while oil prices surged after Saudi Arabia confirmed it was on track to trim crude exports. Europe’s major stock markets followed Asian exchanges higher, with Frankfurt and Paris both ending day 0.8 percent higher. London rose 0.7 percent. Wall Street also had a solid […]
by Jennifer GONZALEZ COVARRUBIAS Agence France Presse MEXICO CITY, Mexico (AFP) — President Andres Manuel Lopez Obrador urged Mexicans Wednesday not to panic as gasoline shortages spread across the country, caused by a crackdown on fuel theft that risks backfiring badly. The president says the shortages were triggered by his administration’s decision to temporarily close some of state oil company Pemex’s pipelines — part of his bid to wipe out rampant fuel theft that cost […]
LONDON, United Kingdom (AFP) — Benchmark oil contract Brent North Sea crude climbed back to $60 per barrel on Wednesday, with OPEC cutting output and on easing concerns over weak demand growth. Around 0940 GMT, Brent crude for delivery in March hit $60 for the first time in 3.5 weeks and was up 20 percent compared with two weeks ago, prior to an oil production cut by the Organization of the Petroleum Exporting Countries […]
MEXICO CITY, Mexico – Mexican President Andres Manuel Lopez Obrador, who is waging a major crack-down on fuel theft, announced Tuesday an investigation into the former security chief of state oil company Pemex. Army general Eduardo Leon Trauwitz, the man who was charged with fighting the large-scale tapping of Pemex’s pipelines by Mexican gangs, is under investigation for involvement in the multi-billion-dollar criminal industry he was supposed to fight. “He’s on a list of people […]
(Eagle News) — Tataas ang presyo ng mga produktong petrolyo ngayong linggo. Pero nilinaw ng ilang oil industry sources na hindi pa ito ang epekto ng excise tax na nakatakdang ipataw sa mga oil products ngayong taon. Inaasahang maglalaro sa Php 0.80 hanggang Php 0.90 ang dagdag sa presyo ng gasolina kada litro. Una nang sinabi ng Department of Energy na aabot sa isang buwan ang buffer stock ng mga kumpanya ng langis kaya dapat […]
KUWAIT CITY, Kuwait (AFP) — Oil ministers from leading OPEC nations said Sunday they expect prices will arrest their recent slide and rebalance early next year, when a deal on new production cuts takes effect. Oil prices have shed more than 36 percent since early October to trade at $54 (47 euros) per barrel, due to fears of oversupply and weak global demand. But president of OPEC and UAE Energy Minister Suhail al-Mazrouei said that […]
HONG KONG, China (AFP) — Most markets were mixed in Asia Wednesday as investors moved cautiously after the previous day’s sell-off, while focus is on a Federal Reserve policy decision with opinions split on whether or not it should hike interest rates again. Oil prices also edged up but were struggling to make a dent in the steep losses sustained Tuesday as traders fret over a global supply glut, higher production and the outlook for […]
NEW YORK, United States (AFP) — World oil prices tumbled Tuesday to their lowest levels in more than a year, hit by fears over the outlook for the global economy and doubts over producers’ resolve to cut output. The plunge in oil prices came on a mixed day for global stocks, with European and Asian markets falling in the aftermath of Monday’s Wall Street rout. US stocks mustered modest gains, but finished well below […]
DOHA, Qatar (AFP) — Qatar, the world’s largest exporter of liquified natural gas, will run its first budget surplus in three years in 2019 due to higher energy prices, a government statement said Thursday. The surplus will reach 4.3 billion Qatari riyals ($1.2bn, 1 billion euros) because of an expected sustained rise in prices. The statement also said Qatar would delay plans to introduce a value-added tax (VAT), initially anticipated for this year. But it […]
DUBAI, United Arab Emirates (AFP) — Oil producers who agreed last week to trim production to boost prices will meet in April to review the impact and sign a long-term pact, the UAE minister said Wednesday. OPEC and some non-OPEC producers decided to cut output by 1.2 million barrels per day for six months from January after world prices shed a quarter of their value in just a few weeks. Prices currently hover around […]
by Joseph SOTINEL / Jastinder KHERA Agence France Presse VIENNA, Austria (AFP) — OPEC members and 10 other oil producing nations, including Russia, agreed Friday to cut output by 1.2 million barrels a day in a bid to reverse falls in prices in recent months. Energy ministers reached the deal — which takes effect from January 1 but has already sent prices surging on oil markets — after two days of talks at OPEC […]
Saudi oil minister said he is “not confident” about chances of a deal on oil production cuts after a long day of negotiations at OPEC headquarters in Vienna. OPEC ministers resumed talks Friday before further discussions with 10 key partner countries, including Russia, later in the day to thrash out an agreement on production cuts. Amid sharp differences over which way to go, the oil market continued under pressure. In early trade Friday, the […]
