OPEC extends oil cut to prop up prices as economy weakens
OPEC agreed on Monday to extend oil supply cuts until March 2020 as the group’s members overcame their differences in order to prop up the price of crude amid a weakening global economy and soaring U.S. production.
OPEC agrees to extend oil supply cut by nine months: delegate
The Organization of the Petroleum Exporting Countries agreed on Monday to extend oil production cuts by nine months, an OPEC delegate said.
Electric cars grab almost half of sales in oil-producing Norway
Almost half of new cars sold in Norway in the first six months of 2019 were powered by fully electric engines, up from just over a quarter in the same period last year, ensuring the Nordic nation retains its top global ranking in electric vehicle sales…
U.S.-China trade agreement takes little pressure off Fed to cut rates
A ceasefire in the U.S.-China trade war is doing little to relieve pressure on the Federal Reserve to stimulate the economy.
Iraqi PM discusses oil price stability with Saudi king: statement
Iraqi Prime Minister Adel Abdul Mahdi and Saudi Arabia’s King Salman discussed coordination over stabilizing oil prices in a phone call on Monday, Abdul Mahdi’s office said.
Coca-Cola gets green signal to sell energy drink under Monster contract
An arbitration tribunal has ruled that Coca-Cola Co can sell its energy drink globally under the terms of the contract with Monster Beverage Corp , the two companies said on Monday, months after the launch of the product in Europe.
Russia wants Iran to remain equal player in global energy market: Novak
Russian Energy Minister Alexander Novak said after meeting his Iranian counterpart Bijan Zanganeh in Vienna on Monday that Moscow was interested in Iran remaining an equal player in the global energy market, according to a statement released by the Rus…
Russia cut June oil output by more than required in global pact
Russia reduced oil production in June by more than the amount agreed in a global deal to cut output, the energy minister and industry sources said on Monday, as the sector still felt the impact of a contaminated crude crisis that crippled exports.
S&P 500 set to open at record high as U.S.-China restart trade talks
The S&P 500 was on track to hit a record high at the open on Monday, fueled by a revival in trade talks between the United Stated and China and a reprieve to Chinese telecoms company Huawei.
Barkindo confident OPEC+ can achieve oil market stability
OPEC Secretary-General Mohammad Barkindo said on Monday he is confident that OPEC+ members will succeed in balancing oil production to guarantee market stability, Kuwait state news agency (KUNA) quoted him as saying.
