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LONDON/MOSCOW/DUBAI (Reuters) -OPEC+ on Thursday pushed back the start of oil output rises by three months until April and extended the full unwinding of cuts by a year until the end of 2026 due to weak demand and booming production outside the group. OPEC+, which pumps about half the world's oil, had been planning to start unwinding cuts from October 2024 but a slowdown in global demand and rising output elsewhere forced it to postpone the plans on several occasions. OPEC+ groups the Organization of the Petroleum Exporting Countries and allies such as Russia.

(Bloomberg) -- + delayed the revival of its oil production by three months, the third time it’s deferred the move while crude prices struggle amid a looming surplus.Most Read from BloombergKansas City Looks Back on its Long, Costly Ride With MicrotransitNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsThe group led by Saudi Arabia and Russia pushed back the s

(Bloomberg) -- OPEC+ already has an agreement in principle to postpone planned January production increase, with discussions continuing about the duration of the delay, delegates said. Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionKansas City Looks Back on its Long, Costly Ride With MicrotransitRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsMinisters from the group will meet online later on Thursday to finalize details of the accord, with th

Business leaders globally are worried about the risk of recession, labour shortages and rising inflation, despite some signs of improvement in economic conditions, a World Economic Forum survey said on Thursday. Extreme weather events are an increasing concern, following a year of record temperatures, severe flooding and wildfires, including in major economies such as Brazil, Germany, Indonesia and the United States, according to the survey of more than 11,000 business leaders from G20 countries. The WEF Executive Opinion Survey shows "a significant level of anxiety among business leaders in G20 countries", said Carolina Klint, chief commercial officer, Europe at Marsh McLennan, a WEF partner, along with Zurich Insurance.

(Bloomberg) -- Federal Reserve Bank of San Francisco President Mary Daly said there’s no sense of urgency to lower interest rates, emphasizing officials can “carefully calibrate” policy. Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic Jams“We do not need to be urgent,” Daly said Wednesday in an interview on PBS News Hour. “There’s no sense of urgency, but we do need to continue to carefully calibrate

NEW YORK (Reuters) -Oil futures fell nearly 2% on Wednesday as investors awaited an imminent OPEC+ decision on production cuts, while a larger-than-expected draw in U.S. crude stockpiles last week lent some support to prices. U.S. West Texas Intermediate crude futures fell $1.40, or 2%, to $68.54. The market was on tenterhooks, with investors focused on the upcoming OPEC+ meeting, analysts said.

(Bloomberg) -- Federal Reserve Chair Jerome Powell downplayed the prospects of tension with the incoming Trump administration and said he expects officials can move cautiously as they continue lowering interest rates.Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic Jams“We can afford to be a little more cautious as we try to find neutral,” Powell said in reference to the level for rates that neither sp