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(Bloomberg) -- OPEC+ is accepting that its mission to defend oil prices will drag on much longer than expected.Most Read from BloombergKansas City Looks Back on its Long, Costly Ride With MicrotransitNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsAt an online gathering on Thursday, the group led by Saudi Arabia and Russia agreed for a third time to delay th

Import tariffs during President-elect Donald Trump's first term broadly lowered stock values on the day they were unveiled, and were associated with lower future profits, sales and employment for the firms whose equity prices were hit the hardest, new analysis by Federal Reserve Bank of New York staff concluded. Firms exposed to trade with China in particular, about half of publicly listed companies, saw bigger stock market losses on days when import tariffs were announced during 2018 and 2019, and over the ensuing two years saw profits, for example, that were about 13% lower than others.

(Bloomberg) -- Kenya’s central bank slashed its benchmark interest rate by a bigger-than-expected margin as muted inflation allows it to offer support to the East African economy.Most Read from BloombergKansas City Looks Back on its Long, Costly Ride With MicrotransitNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsThe monetary policy committee lowered the ke

Those include three tranches: 1. million bpd by all OPEC+ members - extended on Dec. 5 by one year until the end of 2026 from the end of 2025. million bpd of voluntary cuts by eight members (Algeria, Iraq, Kazakhstan, Kuwait, Oman, Russia, Saudi Arabia and the United Arab Emirates) - extended on Dec. 5 by one year until the end of 2026 from the end of 2025.

(Bloomberg) -- Gold slipped as traders awaited a key US jobs report that may influence the Federal Reserve’s next interest-rate decision.Most Read from BloombergKansas City Looks Back on its Long, Costly Ride With MicrotransitNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsEconomists estimate that US nonfarm payrolls, due Friday, rose by 218,000 in November,

LONDON/MOSCOW/DUBAI (Reuters) -OPEC+ on Thursday pushed back the start of oil output rises by three months until April and extended the full unwinding of cuts by a year until the end of 2026 due to weak demand and booming production outside the group. OPEC+, which pumps about half the world's oil, had been planning to start unwinding cuts from October 2024 but a slowdown in global demand and rising output elsewhere forced it to postpone the plans on several occasions. OPEC+ groups the Organization of the Petroleum Exporting Countries and allies such as Russia.

(Bloomberg) -- + delayed the revival of its oil production by three months, the third time it’s deferred the move while crude prices struggle amid a looming surplus.Most Read from BloombergKansas City Looks Back on its Long, Costly Ride With MicrotransitNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsThe group led by Saudi Arabia and Russia pushed back the s