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KUWAIT / Reuters Kuwait’s oil minister Essam al-Marzouq said on Sunday that OPEC and other oil producers will study before June the possibility of an exit strategy from the global oil supply-cut agreement. “There are still meetings every couple of months for the ministerial monitoring committee, and there will be a study formed for the possibility of an exit strategy… ...

Bloomberg While the Trump administration’s efforts to bolster money-losing nuclear plants have hit a potential hitch, New Jersey may press ahead with a rescue plan of its own. Lawmakers are exploring legislation after the state’s biggest utility warned that its reactors are at risk of being shut down in the next two years without a “safety net” because they’ll be ...

TRIPOLI / Reuters The head of Libya’s UN-backed government held a rare meeting with the head of the National Oil Corporation (NOC) and the governor of Tripoli’s central bank to discuss funding to raise oil production. Relations between the three institutions have been fractious over the past two years due to stand-offs over public spending and funding for NOC. Ties ...

Bloomberg Almost all coal plants in the European Union will be outspending their income by the end of the next decade, relying on subsidies to stay open to back up wind and solar generation. About 54 percent of the region’s plants already fail to break even, according to a report by London-based Carbon Tracker Initiative. The facilities are kept online ...

Bloomberg Exxon Mobil Corp is joining Chevron Corp and other US refiners to supply the newly free Mexican fuel market. Exxon sent two cargoes totalling 120,000 barrel of diesel and gasoline from its refinery in Beaumont, Texas, to a private terminal in San Luis Potosi. The company is moving cargoes along Kansas City Southern Railway Co.’s network and plans to ...

Bloomberg The pace of China’s import growth is set to slow in 2018 after a boom this year. Inbound shipments will expand just 5 percent in 2018 after surging 14.9 percent this year, according to a Bloomberg survey of economists. Slower infrastructure investment, tighter monetary policy, weaker commodity inflation and high base effects are likely growth drags. That’s unwelcome news ...

Bloomberg State-run Steel Authority of India Ltd. has finalised terms for a 60 billion rupee ($929 million) plant with ArcelorMittal to cater to the automobile sector, a deal that’s been in the works for more than two years, according to a person familiar with the development. The agreement for the automotive grade steel plant is likely to be approved by ...

Bloomberg ComfortDelGro Corp., Singapore’s largest taxi company, struck a deal to buy 51 percent of Uber Technologies Inc.’s Singapore car rental unit for S$295 million ($218 million) in cash and form a joint venture with the ride-hailing giant. The deal for Uber’s Lion City Rentals will give ComfortDelGro control of a fleet of about 14,000 vehicles in the city-state, with ...

Bloomberg China found some local governments inflated revenue levels and raised debt illegally in a nationwide audit, a setback for Beijing in its bid to boost the credibility of economic data after a run of scandals. Ten cities, counties or districts in the Yunnan, Hunan and Jilin provinces, as well as the southwestern city of Chongqing, inflated fiscal revenues by ...

Bloomberg India’s trade ministry is seeking a cut in taxes for overseas diamond miners to boost trading in the world’s largest hub for polishing the gems, people with knowledge of the matter said. The commerce department in a letter to the finance ministry has sought to scrap levies and instead introduce a presumptive tax of 0.25 percent on diamond mining ...