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OPEC, allies to maintain oil mkt stability beyond 2020

NEW DELHI, Oct 15 (Reuters): The Organisation of the Petroleum Exporting Countries (OPEC) and its allies are committed to maintaining oil market stability beyond 2020, with physical supplies relatively tight globally, OPEC Secretary-General Mohammad Barkindo said on Tuesday.He added that compliance with production quotas among OPEC and its allies was...

KL offers to increase imports from India

KUALA LUMPUR, Oct 15 (Reuters): Malaysia said on Tuesday it would look to increase imports of crude sugar and buffalo meat from India, after reports that New Delhi was considering restricting imports of palm oil from Malaysia following its criticism of its actions in Kashmir.Malaysia is the world's second largest...

Australia's Newcrest greenlights first-stage expansion of gold mine

Sandeep Biswas SYDNEY, Oct 15 (Reuters): Australia's Newcrest Mining Ltd, the country's biggest gold producer, said on Tuesday it will go ahead with a $685 million first-stage expansion of its flagship Cadia mine in New South Wales.Newcrest said board members had approved the initial leg of a two-stage expansion that...

Oil prices fall nearly 2.0pc on China data

LONDON, Oct 15 (Reuters): Oil prices fell further on Tuesday, after heavy losses in the previous session following two days of weak Chinese data and as investors continued to fret over prospects for a US-China trade deal despite signs of a truce last week.Brent crude LCOc1 fell $1.04, or 1.75...

Chile's Codelco considering closure of coastal copper smelter

SANTIAGO, Oct 15 (Reuters): Chile's Codelco, the world's largest copper producer, said on Monday that it is evaluating the closure of its Ventanas copper smelter in a polluted coastal region.Media have reported that President Sebastian Pinera would announce the closure of the facility during the upcoming COP25 climate change conference,...

Gold steadies before Brexit summit

BENGALURU, Oct 15 (Reuters): Gold steadied on Tuesday, moving in a tight range, after hopes of progress in U.S-China trade talks were tempered and ahead of a summit that will determine how Britain leaves the European Union.Palladium hit a record high, continuing its stellar run driven by a sustained supply...