OPEC tries to reach consensus on oil production

Note: This section contains information in English only.
Source: Marketwatch

The OPEC has failed to approve issues related to oil-production during the last meeting and will try to reach an agreement next week. The forthcoming summit in Vienna next week is going to be quite complex amid instable situation on the oil markets  due to protests over nuclear program in Iran, Libyan restart of oil production after war and spreading euro-zone crisis. The main issue to be covered is impact of global downturn on the oil market, said Anas Alhajji, chief economist at NGP Energy Capital Management.

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Fri, 09 Dec 2011 06:59:57 GMT

EU's intergovernmental agreement may be concluded without all member states

The EU continues to work on deeper fiscal integration and may go on with intergovernmental deal not including all the members, said Nicolas Sarkozy, the French President. The leaders are putting all the possible efforts in saving the euro, he added. The agreement on the euro bonds had not been reached yet but countries continue to integrate further, said Herman van Rompuy, European Council President.

Fri, 09 Dec 2011 06:58:26 GMT

Japan's growth is lower than reported earlier

Japan has revised its growth rate for the period between July and September down from 6% reported earlier to annual 5.6%. However, the figure still is above expectations of 5.2% annual growth for the period. Analysts are skeptical about growth perspectives after negative capital spending figure and buildup in inventories. The projected growth for the period between October and December is 0.67%.

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