FRANKFURT, Germany (AP) — Saudi Arabia said Tuesday it will cut its oil production by 1 million barrels a day, taking on the burden of supporting prices in the energy market as a “goodwill gesture" after a meeting with other crude-producing countries. The decision came after a meeting between...
FRANKFURT, Germany (AP) — Members of the OPEC oil cartel and allied countries including Russia on Monday adjourned a meeting weighing whether to increase production further next month as the pandemic continues to sap demand for energy and create uncertainty about when recovery might come. The oil...
Wall Street closed out a solid week for stocks Friday with more record highs as traders took a discouraging jobs report as a sign that Congress will finally move to deliver more aid for the pandemic-stricken economy. The S&P 500 rose 0.9%, notching its third all-time high this week. The Dow Jones Industrial...
FRANKFURT, Germany (AP) — OPEC and allied countries including Russia agreed Thursday to increase oil production by 500,000 barrels a day from January and said they would meet monthly to decide further output levels, gingerly adding more crude to a global economy still suffering from the COVID-19 pandemic....
FRANKFURT, Germany (AP) — The OPEC oil producers' cartel was to push ahead with a new round of discussions Tuesday about how much to pump next year as countries wrestled over whether to extend the production cuts that have been supporting prices depressed by the pandemic. Members adjourned a...
BEIJING (AP) — Asian stocks rose Tuesday after Chinese manufacturing improved, with investors looking ahead to U.S. Federal Reserve Chairman Jerome Powell’s appearance before legislators. Benchmarks in Shanghai, Tokyo, Hong Kong and Sydney advanced. Wall Street’s benchmark S&P 500 index...
FRANKFURT, Germany (AP) — Leaders of the OPEC oil cartel adjourned their virtual meeting Monday on future production as no agreement was announced on whether to extend output cuts into next year. The OPEC nations, led by Saudi Arabia, will reconvene Tuesday, according to a short statement from the cartel's...