Bloomberg Iraq joined the United Arab Emirates and Oman in calling for OPEC and allied producers to stick with their agreement to cut oil output until the end of the year, despite recent price gains. Output cuts by the Organization of Petroleum Exporting Countries and fellow producers have contributed to stability in the oil market, and Iraq supports OPEC’s decision …

DUBAI / WAM The number of Russian tourists travelling to the GCC in 2020 is expected to be 38 percent higher than the arrival figures recorded for 2016, according to data published recently by Arabian Travel Market (ATM 2018), which takes place at Dubai World Trade Centre from April 22 to 25. Looking at the economic drivers, the value of …

Bloomberg Next year, General Motors Co. will no longer need an engineer in the front seat babysitting the robot brain that controls its self-driving Chevrolet Bolt. The steering wheel and pedals will be gone, giving total control to the machine. When GM starts testing its autonomous electric sedan in San Francisco ride-sharing fleets, it’ll likely be the first production-ready car …

Bloomberg Nvidia Corp., trying to spread its industry-leading graphics chip technology into new areas, said Uber Technologies Inc. and Volkswagen AG will use its artificial intelligence expertise to help bring self-driving cars to the roads. Uber, the largest ride-hailing company, will use Nvidia processors and software for its forthcoming fleet of self-driving vehicles, the chipmaker’s Chief Executive Officer Jen-Hsun Huang …

Bloomberg Fitbit Inc. is considering developing a wearable device for children, according to people familiar with the matter, as the company struggles to revive demand for its fitness products by pushing into new hardware categories. The product was focussed around health, a sector Fitbit has been increasingly focussed on, according to one of the people. The line of gadgets for …

SINGAPORE / Reuters Oil prices have risen above $70 per barrel for the first time since 2014 as investors bet supply cuts led by OPEC will dominate the market this year. But some traders are sounding a warning — the world’s biggest crude consuming region, Asia, is showing signs of an impending downward correction. Prices for Brent crude oil futures, …

Bloomberg Kazakhstan has overtaken Iraq to become the biggest over-producer in the pact between OPEC and its allies to curb oil output. The Caspian Sea nation’s output has been rising over the past year as the giant Kashagan field ramps up production. That’s in spite of Kazakhstan’s pledge to pump 20,000 barrels a day less under the landmark deal agreed …

NEW DELHI / Reuters Indian oil consumption in 2017 grew at its slowest in four years, according to government statistics, hit by the government’s demonetisation move and a tax increase that knocked the gain in fuel use back to a modest 2.3 percent. The low growth also coincided with another year of weak, albeit improving, new vehicle sales. Last year’s …

Bloomberg Less than two weeks in, 2018 is shaping up to be the year of the fracker. The world’s two biggest oilfield service providers, Schlumberger Ltd. and Baker Hughes, are the best performers in the Standard & Poor’s 500 Energy Index this year. Even smaller rivals are cashing in on investor enthusiasm over a 50 percent rise in oil prices …

Bloomberg Royal Dutch Shell Plc is taking small steps towards a future dominated by electric cars, renewable energy and carbon constraints, demonstrating its intent not to remain solely an oil and gas company. The energy giant agreed last month to purchase First Utility Ltd., the UK’s seventh-largest power provider. Its offshore-wind partnership with Eneco may expand further, with newspaper Telegraaf …