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FRANKFURT, Germany -- OPEC and allied oil-producing countries decided Tuesday to pump more oil to the world economy amid hope that travel and demand for fuel will hold up despite the rapid spread of the omicron variant of covid-19.
OPEC and its allies are expected to revive more oil supplies when they meet next week, underscoring the group’s optimism in the outlook for global demand.
Kuwait’s candidate to take over as OPEC’s top diplomat has widespread support from the group’s members, delegates said.
President Joe Biden unveiled a framework for his tax and social spending plan the White House said totaled $1.75 trillion in an effort to push lawmakers toward a deal he said could make or break their political futures. But House progressives maintained they wouldn’t vote for the bipartisan infrastructure package before they are assured the…
Commodity run dwarfs oil spat as emerging markets set to win Commodity run dwarfs oil spat as em... For some of the worlds biggest money managers, the OPEC+ oil-price feud is little more than a sideshow when it comes to emerging markets. Investors and strategists at JPMorgan Chase and Goldman Sachs say the post-pandemic economic recovery will stoke demand for raw materials across the board, buoying commodity-sensitive assets regardless of whether a crude accord is reached. Russia and Colombia are among the countries that stand to benefit in particular, according to Whitney Baker, the New York...