OPEC Production Plunges as Saudis Deliver Extra Oil Cutbacks

© Reuters. OPEC Production Plunges as Saudis Deliver Extra Oil Cutbacks (Bloomberg) — OPEC’s production plunged last month as Saudi Arabia delivered extra cutbacks intended to clear the remnants of a global supply glut. Output from the group fell by 920,000 barrels a day — the biggest drop in eight months — to 24.87 million […]

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Canada adds extra C$691 million to agriculture sector, cuts timeline for dairy farmers’ aid

2/2 © Reuters. Dairy workers maintain a farm in Carrying Place 2/2 (Reuters) – Canada’s government said on Saturday it will pump an additional C$ 691 million ($ 531.87 million) to support the country’s dairy, poultry and egg farmers, and also reduced the timeline for payment promised to dairy farmers last year. Agriculture Minister Marie-Claude […]

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American Airlines CEO sees 10%-20% extra staff in July 2021, ‘hard’ to avoid furloughs

© Reuters. FILE PHOTO: American Airlines passenger planes crowd a runway in Tulsa By Tracy Rucinski CHICAGO (Reuters) – American Airlines Group Inc (O:) expects to have between 10% and 20% more workers than needed in July 2021, Chief Executive Doug Parker told employees at a town hall this week, and said that avoiding furloughs […]

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Canadian banks end extra pandemic pay as infections ease

By Rod Nickel WINNIPEG, Manitoba (Reuters) – Most of Canada’s biggest banks are ending their extra payments to employees who continued working in public during COVID-19 pandemic lockdowns, as the country’s daily infection tallies decline. The banks’ moves follow grocery chains Metro Inc (TO:), Loblaw Companies (TO:) and Sobeys Inc in ending the additional work […]

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Lobby calls on EU for extra capital easing to help banks lend more

© Reuters. FILE PHOTO: European Union flags fly outside the European Commission headquarters in Brussels By Huw Jones LONDON (Reuters) – A banking lobby group called on Tuesday for the European Union to further soften a capital measure to ensure banks do not run out of headroom to help companies hit by the coronavirus crisis. […]

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Saudi Arabia to reduce crude oil production by an extra voluntary amount of 1 mil bpd in June

This will bring the total production cut to 4.8 mil bpd from April levels The Saudi energy ministry says that with this move, it is aiming to encourage other OPEC+ participants and other global producers to comply with the agreed output cuts. Adding that the additional 1 mil bpd of voluntary cuts is to support […]

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U.S. airlines receive extra $9.5 billion in payroll support: U.S. Treasury

© Reuters. FILE PHOTO: American Airlines passenger planes crowd a runway where they are parked at Tulsa International Airport in Tulsa By Jonathan Landay and David Shepardson WASHINGTON (Reuters) – The U.S. Treasury Department said on Saturday it has released $ 9.5 billion in additional funds from the Payroll Support Program to U.S. air carriers, […]

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Jobless Americans to see extra payments as soon as this week

© Reuters. People gather at the entrance for the New York State Department of Labor offices, which closed to the public due to the coronavirus disease (COVID-19) outbreak in the Brooklyn borough of New York City By Andy Sullivan WASHINGTON (Reuters) – Americans who have lost their jobs due to the coronavirus outbreak will start […]

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Exclusive: ECB to discuss closing door to extra stimulus next week – sources

© Reuters. The headquarters of the European Central Bank (ECB) (R) is seen next to the famous skyline in Frankfurt By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) – European Central Bank policymakers are set to take a more benign view of the economy when they meet on June 8 and will even discuss dropping […]

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