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☆ Jannik Sinner: Why the Carota Boys are ‘finding a lot of love’ for Italian tennis star
▼ + stars: | 2023-12-01 | by ( George Ramsay | ) edition.cnn.com time to read: +6 min

CNN —Go to a major tennis tournament and it’s hard to miss the Carota Boys, a team of six men decked in full-body, bright-orange carrot costumes. It’s only over the past seven or so months that the Carota Boys’ love for Sinner has really blossomed, endearing themselves to the tennis public in the process. The conception of the Carota Boys originates with the friends’ tradition of buying tickets for tennis tournaments to celebrate each other’s birthdays. The Carota Boys attend the ATP Tour Finals in Turin, Italy, watching Sinner take on Greece's Stefanos Tsitsipas. “Jannik and all the Carota Boys are born in a place near the mountains.

Persons: Sinner, – Lorenzo Ferrato, Francesco Gaboardi, Gianluca Bertorello, Enrico Ponsi, Alessandro Dedominici, Alberto Mondino –, TIZIANA FABI, Ferrato, Lavazza, Novak Djokovic, “, ” Ferrato, “ Jannik, Clive Brunskill, “ Let’s, let’s, we’ve, Jannik, ”, Valentino Rossi, Max, Michael, Schumacher, Daniil Medvedev, Valerio Pennicino, Carlos Alcaraz, Denmark’s Holger Rune, Djokovic, ” Djokovic, he’s, Sinner’s Organizations: CNN, Carota Boys, ATP, Getty, CNN Sport, Boys, Wimbledon, Davis, ITF Gaboardi, Italy, Australia, “ Locations: Italy, It’s, Turin, Revello, Rome, AFP, Vienna, Austria, Paris, London, New York, Malaga, Spain, Formula

☆ OPEC+ Agrees to Significant Oil-Production Cut
▼ + stars: | 2023-11-30 | by ( Summer Said | Benoit Faucon | ) www.wsj.com time to read: 1 min

The headquarters of the Organization of the Petroleum Exporting Countries in Vienna. Photo: Andrey Rudakov/Bloomberg NewsOPEC+ agreed to a significant production cut of another million barrels a day, delegates said, in a move that will likely send prices higher amid the continuing conflict in the Middle East. As part of the deal reached Thursday, Saudi Arabia also agreed to extend its cut of 1 million barrels a day that it announced in June.

Persons: Andrey Rudakov Organizations: Organization of, Petroleum, Bloomberg, OPEC Locations: Vienna, Saudi Arabia

☆ Oil kingpin Saudi Arabia extends its production cut into first quarter as OPEC+ holds policy
▼ + stars: | 2023-11-30 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

The logo of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, on Thursday, July 6, 2023. The OPEC+ alliance had already instituted a 2 million barrel per day cut in place until the end of 2024, with several coalition members voluntarily pledging a further 1.66 million barrel per day decline over that same period. While OPEC+ has not formally endorsed production reductions, market participants are following the possibility of further voluntary cuts announced by key participants to the coalition. Close Saudi ally Kuwait will enforce a 135,000 barrel per day reduction in the first quarter, while the Energy Ministry of OPEC member Algeria said it would trim a further 51,000 barrels per day. Oman said it will also reduce output by 42,000 barrels per day in that same period.

Persons: Alexander Novak Organizations: Organization of, Petroleum, of, OPEC, Energy Ministry Locations: Vienna, Austria, OPEC, Saudi Arabia, Nigeria, Angola, Congo, Saudi, Riyadh, Moscow, Kuwait, Algeria, Oman

☆ Morning Bid: November bids adieu with inflation data, OPEC
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. With signs of turn emerging in Federal Reserve policy guidance and October PCE inflation readings set to encourage that later in the day, rate cut fever was in full flow across the Atlantic too. Headline annual inflation in the bloc fell as low as 2.4% - within arm's length of the ECB's 2% target. Later on Thursday, U.S. PCE inflation for the prior month is pencilled to fall 3.0% from 3.4% - with a core also ebbing to 3.5%. "Monetary policy is in a good place," Cleveland Fed President Loretta Mester said on Wednesday, echoing comments from previously hawkish Fed governor Christopher Waller the previous day.

Persons: Brendan McDermid, Mike Dolan, policymaker Fabio Panetta, Loretta Mester, Christopher Waller, John Williams, Christine Lagarde, Megan Greene, Kroger, Bernadette Baum Organizations: New York Stock Exchange, REUTERS, Treasury, Federal, European Central Bank, Bank of Italy, policymaker, U.S ., ECB, Cleveland Fed, Wall, OPEC, Dallas Fed, PMI, York Federal, Bank of England, Academy Sports, Rock Biotech, Titan, Reuters, Thomson Locations: New York City, U.S, China, Canada, Vienna, Automotive, Duluth, BOS, Jan

“Despite the challenges, we still expect OPEC+ to reach an agreement to reduce production," he said in an analyst note. Lower oil prices have allowed U.S. gas prices to fall or stay steady since Sept. 19, AAA said. White House national security spokesman John Kirby declined to address the possibility of OPEC+ reducing oil production. U.S. oil production has hit records as OPEC+ has cut back, with producers outside the group expected to keep leading global growth in oil supply next year, the International Energy Agency said in its November oil report. Now, the risk is growing that Saudi Arabia’s production cuts could reduce OPEC’s influence over oil supplies as other countries boost their output.

Persons: That's, Jorge Leon, Brent, Joe Biden, Biden, John Kirby, “, ” Kirby, ” Leon, ” ___ Boak Organizations: OPEC, United Arab, Rystad Energy, International Monetary Fund, Brent, New York Mercantile Exchange, AAA, Gas, White House, International Energy Agency, U.S, U.S . Energy Information Administration, Saudi Locations: Saudi Arabia, Russia, OPEC, Israel, United Arab Emirates, Vienna, Ukraine, United States, U.S, Washington

☆ I've spent 120 hours on overnight trains. Booking a private cabin is always worth the extra cost — whether it's $200 or $1,000.
▼ + stars: | 2023-11-30 | by ( Joey Hadden | ) www.businessinsider.com time to read: +4 min

On overnight trains, splurging for a private space is worth the price. In private cabins, travelers get a bed, a sink, a vanity, and sometimes a full bathroom. AdvertisementIf you want to sleep on an overnight train, book a private cabin. But when I've booked private cabins on Amtrak and Nightjet, ranging from $200 to $1,000, I've slept better with no disruptions. So I recommend private cabins to all travelers with rolling luggage, a nighttime routine, or a desire to sleep well.

Persons: I've, —, Joey Hadden Organizations: Service, OBB Nightjet, OBB, Amtrak Locations: Berlin, Vienna, Austria, Venice, Italy, Miami

BANGKOK (AP) — Asian shares were mostly higher Thursday ahead of an update on U.S. consumer inflation and a meeting of oil producers in Vienna. Consumer spending, the lifeblood of the economy, rose at a 3.6% annual rate from July through September. In Bangkok, the SET fell 0.5%. Facebook parent company Meta fell 2%, Google’s parent company Alphabet gave up 1.6% and Microsoft dropped 1%. Las Vegas Sands slid 4.9% after Miriam Adelson, the casino operator’s controlling shareholder, sold some $2 billion in stock.

Persons: That’s, Yue, India's Sensex, Taiwan's Taiex, Brent, gainers, Miriam Adelson Organizations: Federal, Consumer, U.S ., Bank, Nikkei, Capital Economics, OPEC, Sunday, New York Mercantile Exchange, Big Tech, Dow Jones, Nasdaq, Facebook, Meta, Microsoft, New York Stock Exchange, General Motors, GM, United Auto Workers, Canadian, Treasury, Sands Locations: BANGKOK, Vienna . U.S, U.S, Asia, Hong Kong, Shanghai, Australia, Bangkok, Sunday .

☆ In a Shaky Oil Market, OPEC Has Bitter Decisions to Make
▼ + stars: | 2023-11-29 | by ( Stanley Reed | More About Stanley Reed | ) www.nytimes.com time to read: +1 min

The agenda — whether to cut production further, and by how much — is likely to be unpalatable for many of the 23 members. It has dropped even as producers in OPEC Plus, a bigger group that includes Russia, have cut production, but the coming months seem unlikely to give oil producers a respite from this squeeze. After three years of pandemic recovery and robust increases in demand for oil, appetite is expected to slow in 2024. Overall economic expansion is expected to be tepid while more efficient energy use and increasing numbers of electric vehicles reduce oil consumption. With production expected to increase outside of OPEC Plus, there will be little need for increased output from the producers group in the early part of 2024 or, perhaps, longer, analysts say.

Organizations: of, Petroleum, Brent, OPEC Locations: United States, Vienna, Ukraine, Russia, China

☆ OSCE Meeting Causes Rift Over Whether to Share Stage With Russia's Lavrov
▼ + stars: | 2023-11-29 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +4 min

The United States and its allies are seeking to simultaneously keep the OSCE alive and hold Russia to account over its invasion of Ukraine. Estonian Foreign Minister Margus Tsahkna told reporters at a meeting with his counterparts from other NATO member states. Estonia had been due to take over the annually rotating OSCE chairmanship but Russia spent months blocking it. A last-minute deal for neutral Malta to take over the chairmanship must also be formally approved at Thursday and Friday's OSCE meeting in Skopje, hosted by the current chair North Macedonia. I think that is simply wrong," Latvian Foreign Minister Krisjanis Karins told reporters at the NATO meeting.

Persons: Andrew Gray, Francois Murphy, Ingrid Melander, Russia's Sergei Lavrov, Margus Tsahkna, Lavrov, Tsahkna, OSCE Michael Carpenter, Antony Blinken, Vladimir Putin, Helga Schmid, Krisjanis Karins, Humeyra Pamuk, William Maclean Organizations: Organization, Security, Cooperation, OSCE, Central Asia, Ukrainian Foreign, AS, United, U.S, Macedonian, United Nations General Assembly, NATO Locations: Ingrid Melander BRUSSELS, VIENNA, Baltic, Ukraine, Russia, Balkans, Central, United States, Estonian, Estonia, Malta, Skopje, Macedonia, Poland, Latvia, Lithuania, Belarus, Moscow, West, New York, Latvian

☆ OPEC+ oil producers head into meeting with quota unease and geopolitical risks casting a shadow
▼ + stars: | 2023-11-29 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Baselines, levels off which cuts and quotas are decided, have been a bone of contention within OPEC+, stalling talks amid UAE pushback in the summer of 2021. But accepting lower baselines would pose risks in the event of future output recoveries. The two countries' baselines for 2024 — and implicitly their production quotas — were due to be studied following assessment from three independent data providers. Two OPEC+ delegates, who could only speak anonymously because of the sensitivity of discussions, told CNBC Tuesday that a compromise had yet to be reached, as the clock ticks toward key meetings between OPEC, OPEC+ and their technical committee. The gatherings were initially scheduled as in-person meetings last weekend in Vienna, before a last-minute downgrade to virtual conferences.

Persons: Saudi Arabia —, —, Prince Abdulaziz bin Salman Organizations: of Petroleum, CNBC, UAE, Change, Saudi Energy Locations: OPEC, Saudi, Saudi Arabia, Angola, Nigeria, Vienna

A view of the sign of Signa Holding on their headquarters in Vienna, Austria, November 6, 2023. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsVIENNA/FRANKFURT, Nov 29 (Reuters) - Property and retail giant Signa declared insolvency on Wednesday after last-ditch attempts to secure fresh funding failed, the biggest casualty so far of Europe's property crash. Signa blamed its problems on external factors affecting its property business and pressure on high-street shopping. Fuelled by low interest rates, billions were funneled into property, which was viewed as stable and safe. Weakness in commercial real estate in the United States as offices remain empty after the pandemic and the struggles of major property developers in China have focused global attention on the sector.

Persons: Leonhard Foeger, Rene Benko, Signa, Switzerland's Julius Baer, Hannes Moesenbacher, Matthias Inverardi, Rachel More, Madeline Chambers, Catherine Evans Organizations: Signa, REUTERS, Rights, Chrysler, Austria's Raiffeisen Bank, Thomson Locations: Vienna, Austria, FRANKFURT, Germany, Switzerland, Hamburg, Bavaria, Hesse, Europe's, United States, China

☆ People who moved to Europe's priciest cities say it's worth it for a relaxed life with shorter work days and cheap childcare
▼ + stars: | 2023-11-29 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +2 min

European cities have some of the most expensive rents in the world, a new study found. We list the cost of living in 13 cities from Helsinki to Berlin — and what locals say about living there. AdvertisementIt's true: Large European cities are expensive. Copenhagen — along with London, Paris, Dublin, and more — ranked high on a new list of European cities with priciest rents, according to vacation-rental site Deluxe Homes . Still, several Americans who recently moved to Europe's highest-rent cities have told BI they feel their journeys have been worth it.

Persons: —, Ellie Owens, they've, Owens, Read Organizations: Berlin —, Service, Business Locations: Europe, Helsinki, Berlin, Connecticut, Copenhagen, Denmark's, London, Paris, Dublin, Oslo, Vienna

☆ Morning Bid: Waller to Wall St, Fed's on the turn
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +6 min

A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. But back in the markets, the Fed's policy pivot was all the rage as Treasury yields and dollar plunged anew. New York Fed chief John Williams said long-term inflation expectations were anchored, reassuring and "remarkably stable". Fed futures now have the first Fed rate cut of a quarter point fully priced for May and 110bps of rate cuts by year-end. Two-year Treasury yields plunged more than 15 basis points to four-month lows of 4.66% on Wednesday, with 10-year yields hitting their lowest since mid-September - a startling drop of more than 75bps in little over a month.

Persons: Brendan McDermid, Mike Dolan, Wall, Charlie Munger, Berkshire Hathaway's Munger, Warren Buffett, Christopher Waller, Jerome Powell, Waller, John Williams, Austan Goolsbee, Michelle Bowman, Powell, Stocks, smartly, Hong, Thomas Barkin, Loretta Mester, Andrew Bailey, BoE, Andrew Hauser, Blinken, Sergey Lavrov, Jane Merriman Organizations: Wall, REUTERS, Federal Reserve, Waller . New York Fed, Chicago Fed, HK, Austria's, Holdings, Richmond Fed, Cleveland Fed, Bank of England, London, Russian, Foods, Intuit, Petco, Thomson, Reuters Locations: New York, U.S, Berkshire, Waller ., China, Europe, Vienna, North Macedonia

[1/3] Russia's Foreign Minister Sergei Lavrov disembarks from a plane upon his arrival at an airport ahead of a meeting of foreign ministers of the Organisation for Security and Cooperation in Europe (OSCE) in Skopje, North Macedonia, November 30, 2023. Estonian Foreign Minister Margus Tsahkna told reporters on Wednesday in Brussels where he attended a NATO meeting. The European Union's foreign policy chief, Josep Borrell, said he understood unease about Lavrov attending the meeting in Skopje, North Macedonia. But he said it was a chance for Lavrov to hear broad condemnation of Russia's war in Ukraine. I think that is simply wrong," said Latvian Foreign Minister Krisjanis Karins.

Persons: Sergei Lavrov disembarks, Russia's Sergei Lavrov, Margus Tsahkna, Lavrov, Josep Borrell, Borrell, Dimitar Kovacevski, OSCE Michael Carpenter, Antony Blinken, Helga Schmid, Krisjanis Karins, Humeyra Pamuk, Aleksandar Vasovic, Ronald Popeski, Francois Murphy, William Maclean, Cynthia Osterman Organizations: Organisation for Security, Cooperation, Russian Foreign Ministry, REUTERS Acquire, Organization for Security, Baltic, OSCE, Soviet, NATO, Tass, Russian, North Macedonia's, Kremlin, AS, Ukraine, United, U.S, United Nations General Assembly, Thomson Locations: Europe, Skopje, North Macedonia, BRUSSELS, VIENNA, Ukraine, U.S, Russia, Estonian, Brussels, Estonia, Lithuania, Latvia, Malta, Belarus, United States, Moscow, West, New York, Latvian

Meta announced the service for Facebook and Instagram last month. The ad-free service cost 9.99 euros ($10.90) monthly for Web users and 12.99 euros for iOS and Android users. Contrary to this law, Meta charges a 'privacy fee' of up to 250 euros per year if anyone dares to exercise their fundamental right to data protection," NOYB data protection lawyer Felix Mikolasch said in a statement. NOYB filed the complaint with the Austrian Data Protection Authority. The complaint will likely be forwarded to the Irish data protection watchdog which oversees Meta because it has its European headquarters in Ireland.

Persons: Dado Ruvic, Meta, Max Schrems, Felix Mikolasch, NOYB, Foo Yun Chee, Matthew Lewis Organizations: REUTERS, Rights, Meta, Facebook, EU, Austrian Data Protection, Netflix, YouTube, Google, Thomson Locations: Rights BRUSSELS, Europe, Austrian, Europe's, Vienna, Ireland, Brussels

The logo of the Organization of the Petroleoum Exporting Countries (OPEC) is seen outside of OPEC's headquarters in Vienna, Austria April 9, 2020. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsLONDON, Nov 28 (Reuters) - OPEC+ talks on 2024 oil policy are difficult, making a rollover of the previous agreement a possibility rather than deeper production cuts, four OPEC+ sources said on Tuesday. Two of the sources said an additional cut - a step that sources have said would be looked at - was not being actively discussed. OPEC+ sources said this was because of a disagreement over output levels for African producers, though sources have since said the group has moved closer to a compromise on this point. OPEC's previous meeting in June had already extended output cuts into 2024.

Persons: Leonhard Foeger, Brent, Maha El Dahan, Ahmad Ghaddar, Olesya, Alex Lawler, Kirsten Donovan, Susan Fenton, David Goodman Organizations: Organization, REUTERS, of, Petroleum, Reuters, OPEC, Thomson Locations: OPEC's, Vienna, Austria, OPEC, Russia, Saudi Arabia, Saudi

☆ Charlie Munger, the 'Oracle of Pasadena' who was Buffett's second-in-command
▼ + stars: | 2023-11-28 | by ( Jonathan Stempel | ) www.reuters.com time to read: +8 min

Berkshire Hathaway Vice Chair Charlie Munger arrives to begin the company's annual meeting in Omaha May 4, 2013. EXPANDING BUFFETT'S HORIZONSMunger and Buffett did differ politically, with Munger being a Republican and Buffett a Democrat. Like Buffett, Munger was a fan of the famed economist Benjamin Graham. ORACLE OF PASADENAFans dubbed Buffett the "Oracle of Omaha," but Munger was held in equal esteem by his own followers, who branded him the "Oracle of Pasadena" after his adopted hometown in California. "I was raised by people who thought it was a moral duty to be as rational as you could possibly make yourself," Munger told Daily Journal shareholders in 2020.

Persons: Charlie Munger, Rick Wilking, Charles Munger, Warren Buffett's, Munger's, Buffett, Munger, Berkshire Hathaway, HORIZONS Munger, Santa Barbara, Warren, Benjamin Graham, Charlie, Ben Graham, Charles T, Kathy Kristof, Buffett's, Ernest . Buffett, Olson, Wheeler, Alice Schroeder, Nancy, Graham, Heinz, Todd Combs, Ted Weschler, Nancy Munger, Jonathan Stempel, Diane Craft, Rosalba O'Brien Organizations: Berkshire Hathaway, REUTERS, Berkshire Hathaway Inc, Munger, CNBC, Buffett, HORIZONS, Republican, University of California, Berkshire, ORACLE, PASADENA, Oracle, Wesco Financial Corp, Daily Journal Corp, Daily, Los Angeles Times, University of Michigan, U.S . Army Air Corps, Harvard Law School, Tolles, Munger &, Omaha Club, BNSF, 3G Capital, Kraft Foods, Reuters, Thomson Locations: Omaha, California, Berkshire, Omaha , Nebraska, Vienna, Santa, Pasadena, Munger, TETE, Los Angeles, New York

REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsLONDON, Nov 28 (Reuters) - Investors are increasingly pessimistic about the outlook for crude oil prices as doubts grow OPEC+ will cut production enough to offset rising non-OPEC output and a deteriorating economic outlook. But many professional money managers are more optimistic about refined fuel prices, especially U.S. gasoline and diesel, expecting low inventories will ensure prices remain stronger than crude. By contrast, the position in fuels was 114 million barrels (51st percentile), with substantial positions in U.S. gasoline (64 million barrels) and U.S. diesel (33 million barrels). The surplus had swelled from +60 bcf (+2% or +0.23 standard deviations) at the start of October despite very low prices. Related columns:- U.S. crude oil bears risk reversal from crowded trade (November 20, 2023)- U.S. gasoline stocks add to crude oil turbulence (November 17, 2023)- U.S. oil prices slide as stocks accumulate at Cushing (November 16, 2023)- Oil traders turn bearish, daring OPEC⁺ to cut again (November 14, 2023)John Kemp is a Reuters market analyst.

Persons: Leonhard Foeger, Brent, Henry, John Kemp, Mark Potter Organizations: REUTERS, ICE, U.S ., Funds, Henry Hub, Thomson, Reuters Locations: Vienna, Austria, OPEC, NYMEX, Saudi Arabia, Louisiana, Cushing

REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsLONDON, Nov 27 (Reuters) - OPEC+ is looking at deepening oil production cuts despite its policy meeting being postponed to this Thursday amid a quota disagreement between some producers, an OPEC+ source said on Monday. An OPEC+ source said he expected there to be an option for a "collective further reduction" on Thursday, without providing details. OPEC+ sources earlier this month said the group was set to consider additional cuts. OPEC member Kuwait is committed to any decisions issued by OPEC, especially those that concern market quotas and oil production, the country's oil ministry said in a post on social media platform X. This will be followed at 1400 GMT by a meeting of the full policy-making group of OPEC+ ministers, the agenda showed.

Persons: Leonhard Foeger, Ahmad Ghaddar, Alex Lawler, Louise Heavens, Dmitry Zhdannikov, Christina Fincher Organizations: Organization, REUTERS, of, Petroleum, Reuters, OPEC, Thomson Locations: OPEC's, Vienna, Austria, OPEC, Russia, Kuwait, Saudi Arabia, Saudi

☆ Neutral Malta to Chair OSCE After Moscow Blocks NATO Member Estonia
▼ + stars: | 2023-11-27 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

OSCE countries' foreign ministers meet on Thursday and Friday in the North Macedonian capital of Skopje to discuss the chair role and renewing four senior OSCE officials in their posts at the Vienna-based organisation. Small, neutral European Union member state Malta was acceptable to all sides. The deal "brings with it the guarantee of another year of functionality and a legitimate chair," one senior Western diplomat said. Russia and staunch ally Belarus have still not backed the renewal of four senior OSCE officials in their posts, including veteran German diplomat Helga Schmid as OSCE secretary-general, diplomats said. "We do care about the top four but the chair is existential - the organization cannot operate without it," the Western diplomat said.

Persons: Francois Murphy VIENNA, Bujar Osmani, Helga Schmid, Francois Murphy, Cynthia Osterman Organizations: Organization for Security, Cooperation, OSCE, Macedonian, Twitter, European, NATO, Union Locations: Europe, Malta, Russia, Estonia, Macedonian, Skopje, Vienna, United States, Canada, Central Asian, European Union, Britain, Ukraine, Belarus, Western, Moscow, Washington

☆ ECB's Holzmann tells paper he wants cut in PEPP reinvestments from March
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: 1 min

European Central Bank policymaker and Governor of the Austrian National Bank Robert Holzmann addresses the media in Vienna, Austria, March 23, 2023. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsVIENNA, Nov 24 (Reuters) - European Central Bank policymakers should discuss at their meeting next month whether to wind down bond reinvestments under the Pandemic Emergency Purchase Programme early, Austrian Governor Robert Holzmann said in remarks published on Friday. "My suggestion would be to reduce reinvestments step by step as of March," Holzmann told Austrian newspaper Die Presse. Those reinvestments are slated to run until the end of 2024 but some policymakers have made the case for starting to wind them down early. Reporting by Francois Murphy; editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Austrian National Bank Robert Holzmann, Leonhard Foeger, Robert Holzmann, Holzmann, Francois Murphy, Christina Fincher Organizations: European Central Bank policymaker, Austrian National Bank, REUTERS, Rights, Central Bank, Austrian, Die Presse, Thomson Locations: Vienna, Austria, Austrian

The logo of the Organization of the Petroleoum Exporting Countries (OPEC) is seen outside of OPEC's headquarters in Vienna, Austria April 9, 2020. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsLONDON/MOSCOW, Nov 24 (Reuters) - OPEC+ has moved closer to a compromise with African oil producers on 2024 output levels, four OPEC+ sources told Reuters, after disagreements over those targets forced the group of oil-producing nations to postpone a key meeting. As of October, Angola was pumping less than its quota for 2024, according assessments by independent sources cited by OPEC. Nigeria is pumping close to its 2024 quota of 1.38 million bpd but less than a 2024 level of 1.58 million bpd being considered for it subject to independent assessments. The market is also waiting to see if Saudi Arabia extends its additional 1 million bpd voluntary production cut, which is due to expire at the end of December.

Persons: Leonhard Foeger, OPEC Gabriel Tanimu Aduda, Maha El, Jason Neely Organizations: Organization, REUTERS, Reuters, of, Petroleum, Brent, OPEC, Thomson Locations: OPEC's, Vienna, Austria, MOSCOW, Angola, Nigeria, Russia, OPEC, Saudi Arabia, Maha El Dahan, Dubai

OPEC+ said after its last meeting in June that the 2024 output quotas of Angola, Nigeria and Congo were conditional on reviews by outside analysts. "The postponement of the meeting also shows there are some different views among the group participants." A view of logo of the Organization of the Petroleum Exporting Countries (OPEC) at their headquarters in Vienna, Austria, June 2, 2023. Saudi Arabia, Russia and other OPEC+ members have already pledged oil output cuts of about 5 million barrels per day (bpd), or about 5% of daily global demand, in a series of steps that started in late 2022. This figure includes a 1 million bpd voluntary reduction by Saudi Arabia and a 300,000 bpd cut in Russian oil exports, both of which last until the end of 2023.

Persons: Giovanni Staunovo, Brent, Leonhard Foeger, Alexander Novak, Prince Abdulaziz bin Salman, Helima Croft, Croft, Nadine Awadalla, Nayera Abdalla, Ahmad Ghaddar, Vladimir Soldatkin, El, Alex Lawler, Jason Neely, Mark Potter, Kirsten Donovan, Deepa Babington Organizations: Oil, DUBAI, Organization of, Petroleum, REUTERS, Russian, Saudi Energy, OPEC, RBC Capital, Bloomberg News, Thomson Locations: LONDON, OPEC, Angola, Nigeria, Congo, Russia, Vienna, Austria, OPEC's Vienna, Saudi Arabia

☆ Iran's Barring of Inspectors Is Serious Blow to IAEA's Work, Grossi Says
▼ + stars: | 2023-11-22 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

By Francois MurphyVIENNA (Reuters) - Iran's barring of some of the U.N. nuclear watchdog's most experienced and expert inspectors from the team allowed to operate there is a "very serious blow" to the agency's work, the watchdog's chief Rafael Grossi said on Wednesday. One diplomat put the number of inspectors barred in this wave at eight, all of them French and German. That left only one enrichment expert in the team assigned to Iran, they added. They also were inspectors that were familiar with the facilities, had been there for years inspecting the facilities," the senior diplomat said, referring to the de-designated inspectors. The inspector who spotted that change, a Russian enrichment expert, was de-designated later this year, shortly before the others, numerous diplomats said.

Persons: Francois Murphy VIENNA, Rafael Grossi, Grossi, John Irish, Frances Kerry Organizations: International Atomic Energy Agency, IAEA, Diplomats Locations: Tehran, Iran, Paris

A view of logo of the Organization of the Petroleum Exporting Countries (OPEC) at their headquarters in Vienna, Austria, June 2, 2023. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsSummary OPEC+ had been scheduled to meet on SundayOil drops almost 5% as delay raises questions about output cutsDelay shows there are some different views in group - analystDUBAI/LONDON, Nov 22 (Reuters) - OPEC+ has delayed a ministerial meeting expected to discuss oil output cuts to Nov. 30 from Nov. 26, OPEC said in a statement on Wednesday, a surprise development that sparked a further drop in oil prices. The delay to the meeting into next week might be to allow more time for countries to discuss both compliance with existing output cuts and potential additional cuts, an OPEC+ source said, declining to be named. Saudi Arabia, Russia and other OPEC+ members have already pledged oil output cuts of about 5 million barrels per day (bpd), or about 5% of daily global demand, in a series of steps that started in late 2022. This figure includes a 1 million bpd voluntary reduction by Saudi Arabia and a 300,000 bpd cut in Russian oil exports, both of which last until the end of 2023.

Persons: Leonhard Foeger, Giovanni Staunovo, Brent, Helima Croft, Nadine Awadalla, Nayera Abdalla, Ahmad Ghaddar, Vladimir Soldatkin, El, Alex Lawler, Jason Neely, Mark Potter, Kirsten Donovan Organizations: Organization of, Petroleum, REUTERS, Sunday, DUBAI, RBC Capital, Bloomberg News, Thomson Locations: Vienna, Austria, LONDON, Russia, OPEC, OPEC's Vienna, Saudi Arabia

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