Saudi Arabia will reduce how much oil it sends to the global economy, taking a unilateral step to prop up the sagging price of crude after two previous cuts to […]
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Oil prices could soar higher as Russia, others shrug off criticism from Biden administration
Member countries of OPEC and their allies are considering further cuts to oil production that could send oil prices soaring.The group, known as OPEC+ to include allies such as Russia, will meet […]
OPEC+ prepares for weekend meeting after Saudi warns speculators to ‘watch out’
OPEC+ ministers will meet to determine their next oil production policy steps on June 4 in Vienna. They face a market rattled by supply volatility, demand uncertainty and a prospective […]
Economic Calendar: June 5 – June 9
Monday June 5China, Japan and Euro zone services and composite PMIGermany trade surplus(9:45 a.m. ET) U.S. S&P Global Services and Composite PMI for May.(10 a.m. ET) U.S. factory orders for […]
Payrolls rose 339,000 in May, much better than expected in resilient labor market
The U.S. economy continued to crank out jobs in May, with nonfarm payrolls surging more than expected despite multiple headwinds, the Labor Department reported Friday.Payrolls in the public and private […]
Oil prices rise after U.S. debt deal; all eyes on OPEC meeting
Oil prices rose on Friday after a U.S. debt ceiling deal averted a default in the world’s biggest oil consumer, while attention turned to a meeting of OPEC ministers and […]
Suncor to cut 1,500 jobs by end of year, employees informed Thursday
Suncor Energy Inc. SU-T will cut 1,500 jobs by the end of the year, as new CEO Rich Kruger forges ahead with his mandate to reduce costs and improve the company’s lagging […]
Consumers defy recession forecasts and spend, spend, spend
Can we shop our way out of a recession? Consumers in Canada are giving it their best shot.The strong first-quarter growth in GDP that caught economists off guard was powered by two sectors, […]
With just days to spare, Senate gives final approval to U.S. debt ceiling deal, sending it to Biden
Fending off a U.S. default, the Senate gave final approval late Thursday to a debt ceiling and budget cuts package, grinding into the night to wrap up work on the […]