Divided UK, inconclusive election could put brakes on Brexit

Oil market rebalancing to speed up in second half – OPEC’s Barkindo

A rebalancing of the oil market is progressing more slowly than expected, but it will speed up in the second half of the year, OPEC's Secretary General Mohammad Barkindo said on Sunday. "We are pretty sure that the rebalancing process may be going at a slower pace than earlier projected, but it is on course. It is bound to accelerate in the second half," Barkindo told reporters in the Russian city of St Petersburg.


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Oil Price Fundamental Daily Forecast – Oil Ministers May Try to Limit Libyan, Nigerian Production at Key OPEC Meeting

U.S. West Texas Intermediate and international-benchmark Brent crude oil posted a volatile two-sided trade last week before settling lower. The bullish price action was fueled by a bigger-than-expected draw in U.S. inventories. The bearish news was increased production from OPEC. September WTI crude oil futures settled at $45.77, down $0.98 or -2.10% and October Brent … Continue reading Oil Price Fundamental Daily Forecast – Oil Ministers May Try to Limit Libyan, Nigerian Production at Key OPEC Meeting


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Teva Pharm to reduce workforce in Israel, mainly in production

Teva Pharmaceutical Industries (TEVA.TA) said on Sunday it would lay off some of its 7,000 employees in Israel in the coming months as it reorganises in a drive to improve competitiveness. Teva, Israel's largest company, did not specify how many workers would leave, but a source close to the process told Reuters the number would be about 350, mainly in production. Teva (TEVA.N) employs 4,000 workers in production in Israel.


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