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Tag Archives: global oversupply

US, global stocks rise on US economic data, energy sector

US, global stocks rise on US economic data, energy sector

NEW YORK (AP) — U.S. and global stocks rose modestly in early trading Friday, on track for a second straight weekly gain, helped by encouraging economic news in the U.S. and word from China that the country won’t devalue its currency further to make its exports more competitive. KEEPING SCORE: The Dow Jones industrial average rose 44 points, or 0.3 ...

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Asian stocks slide as oil falters following Saudi remarks

HONG KONG (AP) — Asian stocks were mostly lower on Wednesday, tracking declines on Wall Street as crude oil extended losses after Saudi Arabia ruled out freezing production, saying market forces should be allowed to work. KEEPING SCORE: Japan’s benchmark Nikkei 225 index lost 0.7 percent to 15,948.31 as investors seeking haven in the yen pushed it higher, hurting shares ...

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Saudi oil minister says market should handle low prices

Saudi Arabia's Minister of Petroleum & Mineral Resources Ali Al-Naimi speaks at the annual IHS CERAWeek global energy conference Tuesday, Feb. 23, 2016, in Houston. (AP Photo/Pat Sullivan)

HOUSTON (AP) — Saudi Arabia’s oil minister says production cuts to boost oil prices won’t work, and that instead the market should be allowed to work even if that forces some operators out of business. Ali Al-Naimi said Tuesday that cutting production would mean low-cost producers like Saudi Arabia would be subsidizing higher-cost ones — an apparent reference to U.S. ...

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Iran seeks $45B in foreign investment

Iran's economy minister Ali Tayebnia speaks with media at a press conference in Tehran, Iran, Saturday, Feb. 20, 2016. Iran's economy minister Ali Tayebnia says his country is seeking $45 billion in foreign investment following the implementation of a landmark nuclear deal with world powers last month. The historic agreement brought about the lifting of international sanctions last month after the U.N. certified that Iran has met all its commitments to curbing its nuclear activities under last summer's accord. (AP Photo/Ebrahim Noroozi)

TEHRAN, Iran (AP) — Iran’s economy minister said his country is seeking $45 billion in foreign investment following the implementation of a landmark nuclear deal with world powers last month. Ali Tayebnia told reporters Saturday that Iran expects $15 billion in direct foreign investment alone in the next Iranian calendar year, which begins March 20. The historic agreement brought about ...

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High supplies seen capping oil prices until early 2017

High supplies seen capping oil price until early 2017

PARIS (AP) — A glut of oil will keep prices from rebounding until next year, much later than previously forecast, experts at the International Energy Agency said Monday. A year ago, the IEA, a Paris-based organization of 29 major oil importing nations, had forecast a “relatively swift” recovery. Instead, oil prices have continued to fall, reaching a level below $30 ...

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Saudi Arabia halts $4B in Lebanese deals over Iran dispute

BEIRUT (AP) — Saudi Arabia announced on Friday it is halting deals worth $4 billion aimed at equipping and supporting Lebanese security forces in retaliation for the tiny country’s siding with Iran amid the Sunni kingdom’s spat with the Shiite power. The surprise announcement, carried by the state-run Saudi Press Agency, comes as deeply divided Lebanon struggles to handle the ...

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