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Saudi pledges 'measurable' oil supply boost as OPEC, Russia agree deal

Saudi pledges 'measurable' oil supply boost as OPEC, Russia agree deal

OPEC's deal to release more supply centers on the idea of returning to 100 percent compliance with existing, agreed cuts. The 24 nations in the supply-cut pact, known as Opec+, agreed in late 2016 to trim production by 1.8 million barrels a day but they have actually been keeping some 2.8 million barrels per day off the market.


Opec edges closer to raising oil output, Iran’s nod is key

Opec edges closer to raising oil output, Iran’s nod is key

He acknowledged not all of the cartel's members could increase output, in a reference to countries such as Venezuela. Saudi Arabia is reportedly under pressure from its United States ally to open the spigots as Trump hopes for lower pump prices ahead of November's mid-term elections.



WTI keeps rising and hits $69.00 after OPEC agreement

OPEC and partners including Russian Federation and Oman have since a year ago cut output by 1.8 million bpd. Oil hit almost $80 per barrel last month, sending gasoline prices in the United States above $3 per gallon in many areas for the first time in years.


Saudi Arabia Likely to Be Included in MSCI Emerging Market Index

Saudi Arabia Likely to Be Included in MSCI Emerging Market Index

The addition of Saudi Arabia to the MSCI Emerging Markets index could see the launch of ETFs and open-ended funds investing directly in the country. Over the past three years, the CMA and Tadawul have implemented several measures to open the domestic equity market to global institutional investors.


Legal marijuana will roll out differently in Canada than in US

Legal marijuana will roll out differently in Canada than in US

Mr Trudeau's Cabinet is expected to decide a legalisation date in early or mid-September. The country is the first in the G7 to legalise the drug's recreational use. Uruguay was the first to fully legalize the drug. "We would like to commend the fearless advocates who spent years building momentum for change...to all Canadians who participated in turning an idea into reality, this is your moment to celebrate".



Saudi Sides with Oil Consumers as OPEC Nears Pivotal Talks

Brent oil prices rose 1% to 74.03 in London trading on Friday. The South American country are facing bans and diplomatic freezes from the U.S. and its allies, while Iraq has production issues. Trump's involvement in pressing for OPEC to act - which in addition to his tweets include a behind-the-scenes request for a 1 million-barrel-a-day supply hike - could make it hard for Tehran to accept a compromise.