(Reuters) – Saudi’s energy ministry said on Sunday the kingdom will extend its 500,000 bpd voluntary oil cut until the end of 2024, according to Saudi’s state news agency. (Reporting by Omar Abdel-Razek; editing by Barbara Lewis)
LONDON (Reuters) – Saudi Arabia will make new voluntary cuts as part of an OPEC+ deal, an OPEC+ source told Reuters on Sunday. Two other OPEC+ sources said the group is likely to agree a policy roll over until 2023 and make additional cuts in 2024 if new production baselines for members are agreed. (Reporting…
ISTANBUL (Reuters) – The head of a group representing global airlines renewed pressure on planemakers to speed up plane and parts production on Sunday, warning the delays would curtail airline capacity as demand for air travel nears a full recovery from the pandemic. Willie Walsh, director general of the International Air Transport Association, told Reuters…
By Nevzat Devranoglu ANKARA (Reuters) -Turkey’s newly appointed Finance Minister Mehmet Simsek said on Sunday that the country has no choice but to return to “rational ground” to ensure predictability in the economy. President Tayyip Erdogan named Simsek to his cabinet on Saturday to tackle Turkey’s cost-of-living crisis and other strains, in a clear sign…
CAIRO (Reuters) – Saudi Arabia’s foreign ministry and the United States called on Sudan’s warring factions to agree to a new ceasefire and make efforts to implement it effectively, the Saudi ministry and the U.S. said on Sunday. Saudi Arabia and the United States are keen to continue talks with the two Sudanese negotiating delegations,…
LONDON (Reuters) – Goldman Sachs revised its Turkish lira forecast in the wake of President Tayyip Erdogan’t cabinet revamp, saying it now expected the currency to weaken to 28 to the dollar in 12 months compared with a previous prediction of 22. Erdogan signalled on Saturday his newly-elected government would return to more orthodox economic…
By Huseyin Hayatsever and Ezgi Erkoyun ANKARA (Reuters) -President Tayyip Erdogan signalled on Saturday his newly-elected government would return to more orthodox economic policies when he named Mehmet Simsek to his cabinet to tackle Turkey’s cost-of-living crisis and other strains. Simsek’s appointment as treasury and finance minister could set the stage for interest rate hikes…
By Ahmad Ghaddar, Alex Lawler and Maha El Dahan VIENNA (Reuters) -OPEC and its allies began two days of meetings on Saturday that may culminate in further production cuts of as much as 1 million barrels per day, OPEC+ sources told Reuters, as the group faces flagging oil prices and a looming supply glut. OPEC+,…
By Charlotte Van Campenhout BRUSSELS/DUBAI (Reuters) – Three Europeans returned home on Saturday a day after being released by Iran in a prisoner swap, and Tehran said there was no reason for Europeans to be arrested if they were not “exploited” by foreign security services. The three men – two with dual Austrian-Iranian nationality and…
ANKARA (Reuters) – Turkish President Tayyip Erdogan took the oath of office for a new five-year presidential term on Saturday, extending his rule into a third decade. “I, as president, swear upon my honour and integrity before the great Turkish nation and history to safeguard the existence and independence of the state … to abide…
