New premier in Canada’s oil-rich Alberta set to defy Trudeau

New premier in Canada’s oil-rich Alberta set to defy Trudeau

Oct 7 (Reuters) – Alberta’s incoming premier has set the stage for a showdown with Canada’s federal government and push back against federal laws which is likely to set the oil-rich province on a collision course with Prime Minister Justin Trudeau. Danielle Smith, 51, was chosen by members to lead Alberta’s ruling United Conservative Party … Read more

London’s FTSE 100 falls for second day as Shell weighs

London’s FTSE 100 falls for second day as Shell weighs

FTSE 100 down 0.8%, FTSE 250 adds 0.4% Imperial Brands rises on share buyback plan Weaker refining, gas trading to hit Shell’s Q3 results Construction activity improves unexpectedly Oct 6 (Reuters) – UK’s FTSE 100 index fell on Thursday with Shell weighing on the commodity-heavy index after the oil major said its third-quarter profits would … Read more

OPEC+ heads for deep supply cuts, clash with U.S.

OPEC+ heads for deep supply cuts, clash with U.S.

VIENNA/LONDON, Oct 5 (Reuters) – OPEC+ looks set for deep cuts to its oil output targets when it meets on Wednesday, curbing supply in an already tight market despite pressure from the United States and others to pump more. The potential OPEC+ cut could spur a recovery in oil prices that have dropped to about … Read more

‘Tax people in this room’ to help the poor, Shell CEO tells energy conference

‘Tax people in this room’ to help the poor, Shell CEO tells energy conference

LONDON, Oct 4 (Reuters) – European governments should tax corporates to help weaker parts of society weather soaring energy costs but not intervene to cap gas prices, Shell (SHEL.L) Chief Executive Officer Ben van Beurden told an energy conference on Tuesday. Speaking before the Energy Intelligence Forum in London, Van Beurden said that European energy … Read more

Wall Street closes with sharp gains as final quarter begins

Wall Street closes with sharp gains as final quarter begins

U.S. factory activity slowest in ~2.5 years in Sept -ISM Credit Suisse, Citi cut 2022 year-end target for S&P 500 Dow, S&P 500, Nasdaq up Oct 3 (Reuters) – Wall Street stocks ended with sharp gains on Monday at the start of the final quarter of a tumultuous year with interest rate hikes amid historically … Read more

OPEC+ mulling largest cuts since 2020 crisis, sources say

OPEC+ mulling largest cuts since 2020 crisis, sources say

LONDON, Oct 3 (Reuters) – The OPEC+ group of oil producers is discussing output cuts of more than 1 million barrels per day (bpd), OPEC sources said, and voluntary cuts by individual members could come on top of that, making it their largest cut since 2020. The group is set to meet on Oct. 5 … Read more

Markets open up after Bolsonaro’s strong showing in Brazil vote

Markets open up after Bolsonaro’s strong showing in Brazil vote

SAO PAULO, Oct 3 (Reuters) – Stronger-than-expected support for Brazil’s President Jair Bolsonaro in the first round of a presidential election was cheered by financial markets on Monday, as expected by bankers and analysts after Sunday first round, as the race went to an Oct. 30 runoff. Bolsonaro’s leftist challenger, former President Luiz Inacio Lula … Read more

Bulgarian GERB ahead in election, but coalition outlook uncertain

Bulgarian GERB ahead in election, but coalition outlook uncertain

SOFIA, Oct 2 (Reuters) – Bulgaria’s GERB party of ex-Prime Minister Boyko Borissov looked set for a narrow win in Sunday’s election, the fourth in less two years, as voters sought predictability from a former leader amid steep inflation and the war in Ukraine. Exit polls by Gallup International and Alpha Research showed the centre-right … Read more

OPEC+ to consider oil cut of over than 1 million barrels per day

OPEC+ to consider oil cut of over than 1 million barrels per day

Cuts could include Saudi voluntary reduction Largest cut since pandemic reduction Oil fell due to rising Fed rates, weak economy DUBAI, Oct 2 (Reuters) – OPEC+ will consider an oil output cut of more than a million barrels per day (bpd) next week, OPEC sources said on Sunday, in what would be the biggest move … Read more

Venezuela frees seven jailed Americans in swap for two Maduro relatives

Venezuela frees seven jailed Americans in swap for two Maduro relatives

WASHINGTON, Oct 1 (Reuters) – Venezuela on Saturday freed seven Americans, including five oil executives, in exchange for two relatives of Venezuelan President Nicolas Maduro jailed in the United States on drug convictions, U.S. officials said. The swap included executives of Citgo Petroleum held for years, in addition to U.S. Marine veteran Matthew Heath and … Read more