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Ministers positive on OPEC, non-OPEC oil output cuts

Energy ministers from OPEC and non-OPEC countries meeting in Vienna on Sunday have struck a positive note regarding their agreement to cut oil output as a committee set to monitor compliance with the deal meets for the first time. Kuwaiti oil minister Essam Al-Marzouq, who chairs the five-member compliance committee, said it would examine how to

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Ministers positive on OPEC, non-OPEC oil output cuts

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Energy ministers from OPEC and Russia hold informal talks in Istanbul

ISTANBUL (Reuters) – Energy ministers from Qatar, the United Arab Emirates, Algeria, Venezuela and Russia began informal closed-door talks with the secretary general of OPEC in Istanbul on Wednesday as they try to coordinate efforts to rebalance the oil market. OPEC officials are holding a flurry of meetings in coming weeks to nail down an agreement reached in Algiers last month on modest output cuts…

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Energy ministers from OPEC and Russia hold informal talks in Istanbul

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Paraguay gets debt payment demand from Venezuela’s PDVSA – Petropar president

Paraguay's state-run oil firm Petropar said Saturday that Venezuelan state oil producer PDVSA [PDVSA.UL] had set a 10-day deadline for the Paraguayan company to pay off $287 million of long-standing debt. The demand comes shortly after Paraguay asked last week to convene a meeting of foreign ministers in the South American Mercosur trade group to examine if Venezuela had failed to comply with democratic norms laid out in the organization's charter. Petropar president Eddie Jara told local media that he received a letter…

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Paraguay gets debt payment demand from Venezuela’s PDVSA – Petropar president

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Oil tests out $50 a barrel as supply concerns resurface

Oil prices tested the $50-per-barrel mark on Thursday as production outages brought a faster-than-expected recovery to an oversupplied market many thought will stay depressed through the year. While a crude glut could grow in coming months if demand stalls, wildfires in Canada's oil sands, unrest in the Nigerian and Libyan energy sectors, and …

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Oil tests out $50 a barrel as supply concerns resurface

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Cartel or talking shop? OPEC awaits Saudi ruling

DUBAI/LONDON (Reuters) – For those seeking guidance on Saudi Arabia's thinking regarding the future of OPEC, the last few weeks' agenda of the new Saudi energy minister, Khalid al-Falih, might offer a few clues. Unlike his predecessor Ali al-Naimi, Falih may not have much time for OPEC. For oil-price hawks such

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Cartel or talking shop? OPEC awaits Saudi ruling

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Apple boss Cook to tap Indian software talent during maiden visit

By Himank Sharma and Rupam Jain MUMBAI/NEW DELHI (Reuters) – Apple Inc is set to announce plans to expand its Indian software development center and build an accelerator program for local start-ups, two sources aware of the investment said on Tuesday, hours before Chief Executive Tim Cook's maiden visit. Cook, who…

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Apple boss Cook to tap Indian software talent during maiden visit

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Oil near six-month high as outages support

By Alex Lawler LONDON (Reuters) – Oil traded at around $49 a barrel on Tuesday within sight of a six-month high, supported by supply outages in Nigeria, Canada and other producers that are eroding a persistent glut. “Globally, there are still a lot of supply disruptions and this comes on top of natural declines,” said Olivier Jakob, oil analyst…

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Oil near six-month high as outages support