Iraq oil minister says OPEC members seek inventories control, market balance
Iraq’s oil minister said on Monday that his government and the rest of OPEC seek to control global oil inventories and restore balance to the oil market which faces “huge challenges”, according to a ministry statement.
Russian oil output up at 11.15 million bpd in June, still within deal quota
Russian oil production rose to 11.15 million barrels per day (bpd) in June from 11.11 million bpd in May, two industry sources told Reuters on Monday, although it was still within output levels agreed in a global supply deal with OPEC.
Walmart to invest $1.2 billion in China over the next 10 years to upgrade logistics
Walmart plans to invest 8 billion yuan ($1.2 billion) in China over the next 10 years to upgrade logistics, the U.S. retail giant said in a statement on its verified social media account Monday.
Brookfield, GIC to buy Genesee & Wyoming for about $6.4 billion
Canada’s Brookfield Asset Management Inc and Singaporean sovereign wealth fund GIC on Monday agreed to buy U.S. freight railroad owner Genesee & Wyoming Inc for about $6.4 billion in cash.
Trump talk of easing Huawei ban lifts suppliers’ shares despite doubts
U.S. President Donald Trump’s decision to allow U.S. firms to sell “high tech” products to Huawei led Asian investors to snap up shares in suppliers to the Chinese smartphone maker on Monday, even as some experts wondered what had changed.
Oil firms as OPEC+ poised to extend supply cut
Oil prices were up on Monday as OPEC and its allies looked on track to extend supply cuts until at least the end of 2019 at their meeting in Vienna this week.
Factories faltered in June, trade truce fails to brighten outlook
Factory activity shrank across much of Europe and Asia in June while growth in manufacturing cooled in the United States, keeping the world’s policymakers under pressure to avert a recession amid a U.S.-China trade war.
Atlantia accuses Rome of selective leaks in concession row
Italian infrastructure group Atlantia accused ruling 5-Star officials on Monday of selectively leaking a government report in a campaign to revoke the group’s national toll-road concession.
Stocks cheer trade reprieve, bonds reconsider rate cuts
Stocks rallied and bonds retreated on Monday as the United States and China agreed to restart trade talks, leading investors to pare wagers on aggressive policy easing by the major central banks.
Brent oil jumps over $2 as OPEC+ poised to extend supply cut
Oil prices rose over $2 a barrel on Monday as OPEC and its allies looked on track to extend supply cuts until at least the end of 2019 at their meeting in Vienna this week.
