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Business 5 years ago
Asia stocks fluctuate as virus cases offset vaccine roll-out hopes
Hong Kong, Sydney, Seoul, Singapore and Jakarta were all down but Shanghai rallied more than one percent, helped by data showing Chinese factory activity increased more than expected to a three-year high this month.
Business 5 years ago
Oil falls more than 1% as surging COVID-19 cases stoke demand fears
Brent crude was down by 53 cents, or 1.3 percent, at US$41.24 by 0052 GMT. US West Texas Intermediate (WTI) dropped 53 cents, or 1.3 percent, to $39.32, having fallen more than a dollar shortly after the start of trading.
Business 6 years ago
OPEC laggards called out in Saudi push for cuts compliance
Last month, ministers of OPEC nations and other major oil producers stuck to an agreement to lower production, underlining that only strict compliance could restore stability to prices sent plummeting by the coronavirus pandemic.
Business 6 years ago
Once an American foe, now a friend: OPEC turns 60
Founded in Baghdad on Sept. 14, 1960 to counter the power of seven US and British oil companies, OPEC has repeatedly yielded to pressure from Washington to pump more oil since US President Donald Trump took office at the start of 2017.
Business 6 years ago
OPEC fears second virus wave to prolong oil inventory overhang
OPEC fears its record oil cuts will fail to rebalance the market and solve the worst glut in history if a second wave of the COVID-19 pandemic undermines an economic recovery later this year, according to internal OPEC research seen by Reuters.
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