“We are not your enemy,” say South Korean truck drivers striking for minimum wage protection

UIWANG, South Korea, Dec. 5 (Reuters) – In five white tents outside the Uiwang container depot near Seoul, about 200 striking truck drivers huddle around gas heaters in an attempt to combat the bitter cold and government narrative that they are well-paid “labor aristocracy”. .” They are all too aware of the impact their strike … Read more

Asia Shares Bank on China’s Final Opening; oil profits

https://tmsnrt.rs/2zpUAr4 Chinese stocks rise, dollar falls More Chinese cities are easing coronavirus controls Cap on Russian oil takes effect, impact uncertain SYDNEY, Dec. 5 (Reuters) – Asian stocks extended their rally on Monday as investors hoped steps to lift China’s pandemic restrictions would eventually improve the outlook for global growth and demand for commodities, driving … Read more

UK economy shrinking in 2023, risks ‘lost decade’: CBI

LONDON, Dec 5 (Reuters) – The UK economy is on track to contract by 0.4% next year as inflation remains high and companies postpone investment, with dismal implications for longer-term growth, the Confederation of Business Industry Monday. “Britain is in stagflation – with skyrocketing inflation, negative growth, falling productivity and corporate investment. Businesses see potential … Read more

Oil prices rise after OPEC+ upholds production cut targets, China eases COVID restrictions

Brent gained 0.8% at 0430 GMT, WTI rose 0.9% OPEC+ maintains plans to cut production by 2 million barrels per day More Chinese cities are easing COVID-19 restrictions MELBOURNE, Dec 5 (Reuters) – Oil prices rose as much as 2% on Monday after OPEC+ countries kept their production targets stable ahead of a European Union … Read more

OPEC+ maintains firm policy amid weakening economy, Russian oil cap

No discussions about Russian price cap – deputies The oil price is under pressure due to the weak economy Next meetings will take place on February 1 and June 3-4 LONDON/DUBAI, Dec 4 (Reuters) – OPEC+ agreed in a meeting on Sunday to stick to its oil production targets as oil markets struggle to absorb … Read more

Russia says it will not accept an oil price cap and is preparing a response

December 3 (Reuters) – Russia “will not accept a price cap on its oil” and is analyzing how to respond, the Kremlin said in comments on Saturday, responding to a deal by Western powers aimed at limiting a key source of funding for its war in Ukraine. Kremlin spokesman Dmitry Peskov said Moscow had made … Read more

G7 coalition agrees to price cap of $60 per barrel for Russian oil

Yellen praises months of “hard work” to reach a deal Price cap hits Russia’s main source of income – Yellen Poland supports price cap after seeking additional conditions The G7 price cap is designed to cut Russia’s oil revenues WASHINGTON/BRUSSELS, Dec. 2 (Reuters) – The Group of Seven (G7) countries and Australia said on Friday … Read more

EU countries consider lower gas price cap – documents

Countries meet to discuss the gas price cap proposed by the EU Poland, Belgium, others looking for a lower price limit Germany is one of the opponents of gas price caps BRUSSELS, Dec. 2 (Reuters) – European Union countries will on Friday consider a proposal for a gas price cap slightly lower than one from … Read more

Chevron is waiting for Venezuelan oil shipments, but PDVSA wants payments

HOUSTON, Nov 28 (Reuters) – Chevron Corp (CVX.N) is aiming to receive shipments of Venezuelan oil as early as December, after the oil company received a US license to do so last week, but Caracas may not be so excited as US sanctions limit payments, people familiar with the matter said. The United States on … Read more

US Crude Turns Positive, Brent Offsets Losses on OPEC+ Rumors

US crude reverses losses on OPEC+ production cut rumors WTI is lowest since December 2021, Brent lowest since January 2022 Clashes in Shanghai as COVID protests flare up across China Nov 28 (Reuters) – Global oil benchmarks retreated from their lowest level in nearly a year on Monday, with US crude ending positive, buoyed by … Read more