Saudi Arabia has reduced contractual crude supplies to some customers in Japan and South Korea since March by trimming the volumes of oil loaded, six industry sources familiar with the matter said on Monday.
Sectors
Oil above $59 on Middle East, U.S. output, but IEA report caps gains
Brent crude oil prices rose above $59 a barrel on Wednesday amid tension in the Middle East and signs of a dip in U.S. production, but gains were capped by a report from the International Energy Agency (IEA) indicating that supplies would take longer to tighten than previously expected.
Japan, U.S. aim for Pacific trade pact progress before summit
Japanese and U.S. officials will meet from Wednesday in a bid to strike a two-way deal giving momentum to a pan-Pacific free-trade pact, the 12-nation Trans-Pacific Partnership (TPP), ahead of a leaders' summit late this month.
Japan PM adviser Hamada says dollar at Y120 acceptable
The yen is fairly valued around current levels, a key economic adviser to Prime Minister Shinzo Abe said on Tuesday, a day after comments he made were taken to mean the yen was too weak.
China first-quarter GDP growth seen dipping to 6-year low, more policy stimulus on cards
China's annual economic growth likely slowed to a six-year low of 7 percent in the first quarter as demand at home and abroad faltered, fanning expectations that authorities will have to roll out more policy stimulus to avert a sharper slowdown.
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Toyota Motor Corp (7203.T), the world's biggest automaker, will spend $1 billion to build a car factory in Mexico and plans to announce the investment on Wednesday, two sources with direct knowledge of the matter said.
Crude oil rose on Tuesday after a forecast that U.S. shale oil output would record its first monthly decline in more than four years and on tension in Yemen, where top oil exporter Saudi Arabia is embroiled in a civil war.
International Business Machines Corp, deepening its partnership with Apple Inc to make use of health information gathered by millions of Apple devices, is creating a unit dedicated to providing data analytics to the healthcare sector.
European Union rules banning state aid to businesses should not apply to guarantees issued to boost investment under the three-year EU investment scheme, some of the key contributors to the plan said on Monday.
Federal Reserve policymakers should not read too much into financial market prices to glean the views of investors on interest rates or inflation because prices are hard to decipher, according to research released Monday by the San Francisco Fed.
The United States ended the month of March with a budget deficit of $53 billion, up 43 percent from the same period last year, the U.S. Treasury Department said on Monday.
Crude futures rose on Monday, but closed well below intraday peaks, as concerns about Iran and turmoil in Yemen supported prices, while the global supply glut continued to cap gains.
Russian President Vladimir Putin on Monday paved the way for long-overdue missile system deliveries to Iran and Moscow started an oil-for-goods swap with Tehran, showing the Kremlin's determination to boost economic ties with the Islamic Republic.
The drop in big oil companies' profits in the past eight months isn't just a function of lower crude prices – it also reflects strategic choices.
