Bloomberg Business

Venezuela Oil Production Seen Rising 25% as US Eases Sanctions

The US just took the first steps in pulling back on a four-year-old sanction policy that had strangled oil exports out of Venezuela, home to world-class crude reserves. The major reversal signals that the Latin American country’s industry is on the brink of being able to pump 200,000 more barrels of crude a day — a roughly 25% jump in production.

Australia’s Job Gains Cool on Higher Rates, Currency Falls

Australian employment came in weaker than expected in September, reflecting the Reserve Bank’s assessment that the labor market has reached a “turning point,” while fewer people searching for work sent the jobless rate lower.

Xi Backs Putin on Security, Wants Progress on Gas Pipeline

President Xi Jinping reiterated that China supports Moscow’s efforts in safeguarding its national sovereignty, security and development interests, while seeking a breakthrough on a Sino-Russian gas pipeline.

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