Business

If you can’t get them to keep quiet, ignore them, appears to be the playbook currently in use by OPEC.

ALGIERS (Sputnik) - The Organization of the Petroleum Exporting Countries (OPEC) and non-cartel oil producers present at the meeting of the Joint Ministerial Monitoring Committee (JMMC) said they were ready to boost oil production to compensate for any possible shortfall, Saudi Energy Minister Khalid Falih said on Sunday.

In an interview with Der Spiegel, former German foreign minister Sigmar Gabriel, outlined his point of view on the ongoing Nord Stream project, as well as lambasted those who distort the letter of the law for the sole purpose of penalizing Russia.

Top Japanese officials say the island nation could ramp up its imports of US soybeans and, possibly, oil as part of a broader bilateral trade agreement, which could allow Japanese carmakers to maintain their presence in the US market.

The cabinet of Prime Minister Theresa May is reportedly preparing for a snap election in November after the EU rejected the so-called Chequers proposals on Brexit – stirring outrage and anxiety among both hardline Brexiteers and Remainers.

ALGIERS (Sputnik) - United Arab Emirates (UAE) Energy Minister Suhail Mazrouei on Sunday positively assessed the situation on the oil market, noting increase in production.

MOSCOW (Sputnik) – Russian Energy Minister Alexander Novak and his Saudi counterpart Khalid Falih are holding a meeting in Algeria, the Russian Energy Ministry said Sunday.

ALGIERS (Sputnik) - The compliance of the Organization of the Petroleum Exporting Countries (OPEC) and non-cartel producers with the Vienna oil output deal reached 129 percent in August, Russian Energy Minister Alexander Novak said on Saturday.

ANKARA (Sputnik) - Turkey is eager to use national currencies instead of the US dollar to trade with Venezuela and other countries amid tensed relations with the United States, Turkish Foreign Minister Mevlut Cavusoglu said on Saturday following a meeting with his Venezuelan counterpart Jorge Arreaza.

Amid US anti-Iranian sanctions, scheduled to curb oil exports from the Islamic Republic, the kingdom was expected to boost its oil output and meet future high demand. But the country’s main company now tells buyers that it’s supply is running short, raising fears that it could push prices up to $100 per barrel, the latest media report suggested.

Speaking during yet another rally, this time in Missouri, the US president warned about the spiraling tariff war with China and questioned whether the latter dared to challenge the US with retaliatory measures in response to the latest US tariffs affecting $200 billion of Chinese goods.

MEXICO CITY (Sputnik) – Mexico might conclude a bilateral trade agreement with Canada if Ottawa’s talks with Washington on the new deal to replace the North American Free Trade Agreement (NAFTA) see no progress, Mexican President-elect Andres Manuel Lopez Obrador said.

OPEC and non-OPEC allies have reportedly agreed to review current oil production as a countermeasure to the lack of Iranian oil caused by the US sanctions.

US Treasury said that it set a deadline of November 12 for divesting or transferring debt, equity or other holdings of Rusal and En+.

BRUSSELS (Sputnik) - The World Trade Organization will consider China’s bid to target $7 billion worth of US imports in a years-long trade row, a source in Geneva told Sputnik.

As Chinese-US trade relations deteriorate, former White House Chief Strategist Steve Bannon said this week that those economic ties may get worse before they get better, since US President Donald Trump is willing to make the ongoing trade war “unbearably painful” for Beijing.

On September 22, the most famous beer fest kicks off in Munich, which has become a brand mark for the Bavarian capital and Germany. While some are making preparations on the ground, setting tents, benches and tables, others are taking the drinking fest to a completely new level at a 10,000-meter altitude.

Donald Trump has made fresh remarks about Russian-German energy ties, saying that while such cooperation was "inappropriate" and a "very bad thing for the people of Germany," the US would not deploy sanctions measures against it. Economic observer Dmitry Lekuh explains why Washington's decision to fold on the issue was a calculated one.

For the first time in 263 years, Sweden's bills will be issued abroad, as the UK will take over the printing of new Swedish krona banknotes.

MEXICO CITY (Sputnik) - Venezuelan President Nicolas Maduro announced that the government-backed cryptocurrency, called the petro, will be used in international transactions starting from October 1.