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By Humeyra Pamuk WASHINGTON (Reuters) -Major crude oil producers have spare capacity and are likely to boost supplies following President Joe Biden’s visit to the Middle East, a senior U.S. energy envoy said on Sunday. Speaking on CBS’ “Face the Nation,” Amos Hochstein, senior U.S. State Department adviser for energy security, said: “Based on what …

Top U.S. energy envoy expects further steps from OPEC producers on supplies Read More »

By David Shepardson LONDON (Reuters) -Boeing expects to see a pick up in new orders for its 787 Dreamliner model once it restarts deliveries of the plane, Commercial Airplanes CEO Stan Deal said on Sunday. Deal said the U.S. planemaker was “very close” to restarting 787 deliveries, which have been halted since May 2021 as …

Boeing expects 787 orders to pick up when deliveries restart Read More »

(Reuters) – Boeing on Saturday said it is “disappointed” that the union representing nearly 2,500 employees at the U.S. planemaker’s facilities in the St. Louis area has recommended rejection of management’s contract offer. The International Association of Machinists and Aerospace Workers (IAM), the union representing the workers, said in an earlier statement that it recommended …

Boeing ‘disappointed’ union recommending rejection of contract offer Read More »

VIENNA (Reuters) -The Swiss National Bank is currently planning to raise interest rates by 50 or 75 basis points in its next scheduled monetary policy announcement in September, a Swiss newspaper reported on Saturday, citing one or more people involved in the matter. The central bank last month raised its policy rate for the first …

Swiss central bank plans at least 50 bps rate hike in Sept -report Read More »

By Julie Gordon OTTAWA (Reuters) -The Bank of Canada expects inflation to go “a little over” 8%, as soon as next week when June’s data is released, and stay in that range for a few more months, Governor Tiff Macklem told a business group in a webcast transcript released late Friday. Macklem, who spoke to …

Bank of Canada chief: inflation likely to tip 8% as soon as next week Read More »

JEDDAH, Saudi Arabia (Reuters) – Saudi Arabia’s foreign minister said a U.S.-Arab summit on Saturday did not discuss oil and that OPEC+ would continue to assess market conditions and do what is necessary. “There was no oil discussion at the summit,” Prince Faisal bin Farhan Al Saud told a news conference, adding there were discussions …

OPEC+ will assess oil market and do what is necessary, say Saudi foreign minister Read More »

JEDDAH, Saudi Arabia (Reuters) – Saudi Arabia’s Crown Prince Mohammed bin Salman said on Saturday more investment was needed in fossil fuel and clean energy technologies to meet global demand, and that unrealistic emission policies would lead to unprecedented levels of inflation. The prince said Saudi Arabia had announced raising its production capacity to 13 …

Saudi crown prince says unrealistic energy policies will lead to higher inflation Read More »

(This July 15 story corrects headline and first paragraph to “in the coming weeks” from “next week”) (Reuters) – Abbott Laboratories said on Friday it expects to begin releasing EleCare formula in the coming weeks from its recently reopened Sturgis plant, which has been at the center of a baby formula shortage in the United …

Abbott expects to start shipping EleCare infant formula in the coming weeks Read More »