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Global oil supply to swamp demand in 2019 despite output cuts: IEA

LONDON, Feb 13 (Reuters): The global oil market will struggle this year to absorb fast-growing crude supply from outside OPEC, even with the group's production cuts and US sanctions on Venezuela and Iran, the International Energy Agency said in a report on Wednesday.The IEA left its demand growth forecast for...

Blenders, Loose tea buyers operate actively

Market once again saw a good competition for all clean liquoring varieties. Mediums and the plainest were also a good market and sold quite well. Both Blenders and Loose tea buyers operated quite actively in the weekly auction market held in the port city on Tuesday.Dusts were an easier market,...

National strike brings Belgium to standstill

BRUSSELS, Feb 13 (AFP): Belgium slowed to a standstill on Wednesday as a national strike closed airports, shuttered businesses and caused major disruption to railways.The strike, called by three unions, severely disrupted the country's public transport, particularly in Brussels, where a meeting of NATO ministers was set to take place.The...

New EU rules on gas pipelines hamper Russia's Nord Stream 2

BRUSSELS/COPENHAGEN, Feb 13 (Reuters): The European Union (EU) reached a provisional deal on Wednesday on new rules governing import gas pipelines including Russia's planned Nord Stream 2, in a move that cast doubts over the project's current operating structure.Adding to uncertainty is Denmark's potential ban of the pipeline's planned route...

Russia plans to cut its oil output this month

INNOPOLIS (Tatarstan), Feb 13 (TASS): In February, Russia plans to cut oil output by 90,000-100,000 barrels per day compared to October 2018, Russian Energy Minister Alexander Novak told reporters on Tuesday.OPEC+ countries took the level of production in October 2018 as the benchmark for their oil production cut agreement."We have...

Gold steadies as dollar pauses

BENGALURU, Feb 13 (Reuters): Gold steadied on Wednesday as the dollar slipped from a two-month peak on hopes of a trade deal between the United States (US) and China, with the metal's gains capped by rising global stock markets.Spot gold was up 0.1 per cent at $1,311.65 per ounce, as...