Bhinneka News Online: Reuters Before the Bell: OPEC and allies extend oil supply cut in bid to boost prices

Tuesday, 2 July 2019

Reuters Before the Bell: OPEC and allies extend oil supply cut in bid to boost prices

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Tuesday, July 2, 2019

OPEC and allies extend oil supply cut in bid to boost prices

OPEC and its allies led by Russia agreed to extend oil output cuts until March 2020 on Tuesday, seeking to prop up the price of crude as the global economy weakens and U.S. production soars.

USTR proposes $4 billion in potential additional tariffs over EU aircraft subsidies

Just days after reaching a truce in the U.S.-China trade war, the U.S. government on Monday ratcheted up pressure on Europe in a long-running dispute over aircraft subsidies, threatening tariffs on $4 billion of additional EU goods.

Scotch Whisky Association urges U.S. and EU to end trade stand-off

The Scotch Whisky Association on Tuesday urged the United States and the European Union to end a trade dispute and avoid harmful tariffs that would damage both economies after Washington threatened tariffs on $4 billion goods including the spirit.

EU says it is open to talks with U.S. in row over aircraft subsidies

The European Union said on Tuesday it is open to talks with United States in a row over aircraft subsidies but said figures quoted by Washington as it threatened more tariffs were based on internal U.S. estimates.

Divided EU leaders push to break stalemate on top jobs

Divided and tired, European Union leaders went into a third day of arm-wrestling on Tuesday over who would next hold the bloc's key posts, calling for unity but sounding as split as ever on the key Commission presidency.

France and Germany eye Lagarde for ECB and Von der Leyen for EC president: sources

German defense minister Ursula von der Leyen may end up as European Commission President while IMF head Christine Lagarde may become new president of the European Central Bank following an agreement between France and Germany, said sources.

Relief rally fades as growth fears loom

World stocks eked out meagre gains on Tuesday amid worries the global economy was faltering after data showed manufacturing activity slowed last month, weakening appetite for risk.

Merkel ally von der Leyen being considered for EU Commission head: Welt

Germany's Defence Minister Ursula von der Leyen is being touted by Donald Tusk, the president of the European Council, as a potential successor to Jean-Claude Juncker as head of the European Commission, Die Welt reported on Tuesday.

Oil dips on demand worries even as OPEC, allies extend cuts

Oil prices slipped on Tuesday as concerns that the global economy could be slowing outweighed an agreement by OPEC and allies, including Russia, to extend supply cuts until next March.

Rich get richer, everyone else not so much in record U.S. expansion

Last month Pink Floyd frontman David Gilmour sold his guitar collection for $21.5 million, including one piece - his famed "Black Strat" Fender Stratocaster - that went for nearly $4 million to the owner of the U.S. National Football League's Indianapolis Colts.