व्यापार

By Olesya Astakhova, Ahmad Ghaddar and Alex Lawler LONDON/MOSCOW (Reuters) -OPEC+ will raise oil output from November by 137,000 barrels per day (bpd), it said on Sunday, opting for the same fairly modest monthly increase as in October amid persistent worries over a looming supply glut. The group comprising the Organization of the Petroleum Exporting Countries plus Russia and some smaller producers has increased its oil output targets by more than 2.7 million bpd this year, equating to about 2.5% of global demand. The shift in policy after years of cuts is designed to regain market share from rivals such as U.S. shale producers. Brent prices fell below $65 per barrel on Friday as most analysts predict a supply glut in the fourth quarter and in 2026 due to slower demand and rising U.S. supply. Prices are trading below this year's peaks of $82 per barrel but above $60 per barrel seen in May. OPEC+ MEMBERS DIVIDED ON PRODUCTION LEVELS In the run-up to the meeting, Russia and Saudi Arabia, the two biggest producers in the OPEC+ group, had different views, sources have said. Russia was advocating for a modest output increase, the same as in October, to avoid pressuring oil prices and because it would struggle to raise output owing to sanctions over its war in Ukraine, two sources said this week. Saudi Arabia would have preferred double, triple or even quadruple that figure – 274,000 bpd, 411,000 bpd or 548,000 bpd respectively, because it has spare capacity and wants to regain market share more quickly, sources said ahead of the meeting. OPEC views the global economic outlook as steady and market fundamentals healthy because of low oil inventories, it said in a statement on Sunday. OPEC+ output cuts had peaked in March, amounting to 5.85 million bpd in total. The cuts were made up of three elements: voluntary cuts of 2.2 million bpd, 1.65 million bpd by eight members and a further 2 million bpd by the whole group. The eight producers plan to fully unwind one element of those cuts – 2.2 million bpd – by the end of September. For October, they started removing the second layer of 1.65 million bpd with the increase of 137,000 bpd. The eight producers will meet again on Nov. 2. (Reporting by Alex Lawler, Ahmad Ghaddar, Olesya Astakhova and Dmitry Zhdannikov, writing by Dmitry Zhdannikov and Alex Lawler, Editing by David Goodman)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

(Reuters) -The decision by President Donald Trump administration to halt fully permitted offshore wind energy projects is "very damaging" to investment, President of Shell U.S. Colette Hirstius told the Financial Times in a report published on Sunday. The executive told the newspaper that energy projects with proper permits should be allowed to continue and warned the political pendulum in the U.S. could eventually swing back against the oil and gas sector. "I think uncertainty in the regulatory environment is very damaging. However far the pendulum swings one way, its likely that its going to swing just as far the other way," she told the newspaper. "I certainly would like to see those projects that have been permitted in the past continue to be developed," she said. Shell did not immediately respond to a Reuters' request for comment. In August, the Trump administration said it was cancelling $679 million in federal funding for 12 offshore wind projects, in a blow to an industry that was central to former President Joe Biden's climate and energy agendas. London-listed Shell employs more than 11,000 people in the U.S. and is the largest producer of oil and gas in the Gulf of Mexico. (Reporting by Angela Christy in BengaluruEditing by Tomasz Janowski)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

ROME (Reuters) -Rome is working closely with the European Commission to press the United States to reconsider an additional anti-dumping tariff on pasta imports which would effectively double their price, the Italian foreign ministry said. The decision to impose an extra duty of 91.74% is the result of proceedings by the U.S Department of Commerce which found that two major Italian producers were allegedly selling pasta at unfairly low prices – a practice known as dumping – between July 2023 and June 2024. These would be on top of the 15% U.S. tax on most imports from the 27-nation EU, and would be applied from January 2026. The Italian foreign ministry said in a statement late on Saturday it contested the findings and the new tariffs, and was assisting companies in protecting their rights through the embassy in Washington. With almost $800 million in exports, the U.S. is one of Italy's top three export markets for pasta, a staple of the country's culinary heritage and a substantial export commodity. In 2024, Italy's total pasta exports were worth over 4 billion euros ($4.70 billion) with almost 2.5 million tons sold abroad, according to data by national statistics agency ISTAT. Italy's main business lobby Confindustria on Thursday cut its economic growth forecasts for this year and next, citing the impact of U.S. tariffs and geopolitical tensions on exports. ($1 = 0.8517 euros) (Reporting by Giulia SegretiEditing by Tomasz Janowski)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

(Reuters) -The decision by President Donald Trump administration to halt fully permitted offshore wind energy projects is "very damaging" to investment, President of Shell U.S. Colette Hirstius told the Financial Times in a report published on Sunday. The executive told the newspaper that energy projects with proper permits should be allowed to continue and warned the political pendulum in the U.S. could eventually swing back against the oil and gas sector. "I think uncertainty in the regulatory environment is very damaging. However far the pendulum swings one way, its likely that its going to swing just as far the other way," she told the newspaper. "I certainly would like to see those projects that have been permitted in the past continue to be developed," she said. Shell did not immediately respond to a Reuters' request for comment. In August, the Trump administration said it was cancelling $679 million in federal funding for 12 offshore wind projects, in a blow to an industry that was central to former President Joe Biden's climate and energy agendas. London-listed Shell employs more than 11,000 people in the U.S. and is the largest producer of oil and gas in the Gulf of Mexico. (Reporting by Angela Christy in BengaluruEditing by Tomasz Janowski)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Olesya Astakhova and Dmitry Zhdannikov LONDON/MOSCOW (Reuters) -Eight OPEC+ countries will increase oil output further from November when the group meets on Sunday, sources close to the talks said, with Saudi Arabia pushing for a larger increase to regain market share and Russia suggesting a more modest rise. The group comprising the Organization of the Petroleum Exporting Countries plus Russia and some smaller producers has increased its oil output targets by more than 2.6 million barrels per day (bpd) this year, equating to about 2.5% of global demand. The shift in policy after years of cuts is designed to regain market share from rivals such as U.S. shale producers. Russia and Saudi Arabia, the two biggest producers in the OPEC+ group, have disagreed on the size of increases from time to time but have ultimately reached compromise agreements. Moscow would prefer the group to raise output by 137,000 bpd from November, the same as in October, to avoid pressuring oil prices and because it would struggle to raise output owing to sanctions over its war in Ukraine, two sources said this week. OPEC+ has agreed in principle on a 137,000 bpd increase, three OPEC+ sources said ahead of the online meeting scheduled for 1100 GMT on Sunday. Other options included double, triple or even quadruple that figure – to 274,000 bpd, 411,000 bpd or 548,000 bpd respectively, sources said ahead of the meeting. Previous OPEC+ output cuts had peaked in March, amounting to 5.85 million bpd in total. The cuts were made up of three elements: voluntary cuts of 2.2 million bpd, 1.65 million bpd by eight members and a further 2 million bpd by the whole group. The eight producers plan to fully unwind one element of those cuts – 2.2 million bpd – by the end of September. For October, they started removing the second layer of 1.65 million bpd with the increase of 137,000 bpd. (Reporting by Alex Lawler, Ahmad Ghaddar, Olesya Astakhova and Dmitry Zhdannikov, writing by Alex Lawler, Editing by David Goodman)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

TAIPEI (Reuters) -Taiwan's Foxconn, the world's largest contract electronics maker, reported record third-quarter revenue on strong demand for artificial intelligence products, though it missed the market forecast and offered caution about exchange rates. Revenue for Nvidia's biggest server maker and Apple's top iPhone assembler jumped 11% from the same quarter last year to T$2.057 trillion ($67.71 billion), Foxconn said in a statement on Sunday. While that was below the T$2.134 trillion LSEG SmartEstimate, which gives greater weight to forecasts from analysts who are more consistently accurate, Foxconn said the result was better than expected. On a U.S. dollar basis, Foxconn said third quarter revenue rose 16.1% on year. The Taiwan dollar has strengthened some 8% so far this year against the greenback. Strong AI demand led to robust revenue growth for its cloud and networking products division. Smart consumer electronics, which includes iPhones, posted a slight revenue decline, affected by exchange rates, the company said. September revenue rose 14.2% on year to T$837.1 billion, a record for that month. Operations are expected to "maintain sequential quarterly growth as AI server shipments continue to ramp up in the fourth quarter" and due to the traditional peak season ahead of year-end holidays in major Western markets, the company said. "However, the impact of the global political and economic situation and exchange rate fluctuations will need continued close monitoring," it added, without elaborating. Foxconn, formally called Hon Hai Precision Industry, does not provide numerical forecasts. It will report third quarter earnings on November 12. Foxconn's shares have risen 23% this year, outperforming the 16% rise for the Taiwan market. The stock closed up 0.44% on Friday ahead of the revenue data release, compared with a 1.45% gain for the benchmark index. ($1 = 30.3800 Taiwan dollars) (Reporting by Ben Blanchard; Editing by William Mallard)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Olesya Astakhova and Dmitry Zhdannikov LONDON/MOSCOW (Reuters) -OPEC+ will increase oil output further from November when it meets on Sunday, sources close to the talks said, with Saudi Arabia pushing for a larger increase to regain market share and Russia suggesting a more modest rise. The group comprising the Organization of the Petroleum Exporting Countries plus Russia and some smaller producers has increased its oil output targets by more than 2.6 million barrels per day (bpd) this year, equating to about 2.5% of global demand. The shift in policy after years of cuts is designed to regain market share from rivals such as U.S. shale producers. Russia and Saudi Arabia, the two biggest producers in the OPEC+ group, have disagreed on the size of increases from time to time but have ultimately reached compromise agreements. Moscow would prefer the group to raise output by 137,000 bpd from November, the same as in October, to avoid pressuring oil prices and because it would struggle to raise output owing to sanctions over its war in Ukraine, two sources said this week. Saudi Arabia would prefer to double, triple or even quadruple that figure – to 274,000 bpd, 411,000 bpd or 548,000 bpd respectively – because it can ramp up production quickly and wants to grow market share, the sources said. No final decision has been taken, two sources said, with one expecting a minimal rise of 137,000 bpd while the other said that 274,000 bpd was most likely. The eight OPEC+ countries will hold an online meeting at 1100 GMT on Sunday, the two sources said. Previous output cuts had peaked in March, amounting to 5.85 million bpd in total. The cuts were made up of three elements: voluntary cuts of 2.2 million bpd, 1.65 million bpd by eight members and a further 2 million bpd by the whole group. The eight producers plan to fully unwind one element of those cuts – 2.2 million bpd – by the end of September. For October, they started removing the second layer of 1.65 million bpd with the increase of 137,000 bpd. (Reporting by Alex Lawler, Ahmad Ghaddar, Olesya Astakhova and Dmitry ZhdannikovEditing by David Goodman)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

TAIPEI (Reuters) -Taiwan's Foxconn, the world's largest contract electronics maker and Nvidia's biggest server maker, reported on Sunday that its third-quarter revenue jumped 11% year on year. (Reporting by Ben Blanchard; Editing by William Mallard)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

(Reuters) -Bitcoin, the world's largest cryptocurrency by market value, hit a record high on Sunday and was up nearly 2.7% at $125,245.57 at 0512 GMT. Bitcoin's previous record was $124,480 in mid-August, buoyed by friendlier regulations from U.S. President Donald Trump's administration and strong demand from institutional investors. The cryptocurrency had risen on Friday for an eighth straight session, bolstered by recent gains in U.S. equities and inflows into bitcoin exchange-traded funds. In contrast, the U.S. dollar retreated on Friday, posting multi-week losses against major currencies, as uncertainty surrounding a U.S. government shutdown clouded the outlook and delayed key data releases, such as payrolls, critical for gauging the economy's direction. (Reporting by Anusha Shah in Bengaluru; Editing by Lincoln Feast and Jamie Freed)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

(Reuters) -Bitcoin, the world's largest cryptocurrency by market value, hit an all-time on Sunday and was up by around 2.68% at $125,245.57 at 0512 GMT. (Reporting by Anusha Shah in Bengaluru; editing by Lincoln Feast)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)