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Column: The recession will be necessary to rebalance the oil market

Column: The recession will be necessary to rebalance the oil market

LONDON, Sept 22 (Reuters) – Unused capacity in global oil production has fallen to exceptionally low levels, contributing to intense upward pressure on prices until very recently. Restoring idle capacity to more comfortable levels will require a slowing of the business cycle, which is why a recession or at least a serious downturn is inevitable. …

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Biden, unions and railroad leaders fight for deal as shutdown looms

Biden, unions and railroad leaders fight for deal as shutdown looms

DETROIT/LOS ANGELES, Sept 14 (Reuters) – Biden administration officials held labor contract talks on Wednesday evening to avoid a possible rail shutdown that could disrupt freight shipments and hamper food supplies and fuel, but a small union rejected a deal and Amtrak called it all off. long-distance passenger travel. Railroads including Union Pacific (UNP.N), Berkshire …

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Germany and the EU in the race to solve the energy crisis

Germany and the EU in the race to solve the energy crisis

Join now for FREE unlimited access to Reuters.com Register Germany plans to expand loans to energy companies EU securities watchdog mulls EU-wide measures The Commission will announce broader plans on Wednesday BERLIN/FRANKFURT, Sept 13 (Reuters) – Germany will step up lending to energy firms threatened with being crushed by soaring gas prices, it said on …

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Fed set for another 75 basis point rate hike;  early pivot unlikely: Reuters poll

Fed set for another 75 basis point rate hike; early pivot unlikely: Reuters poll

A woman holds US dollar banknotes in this illustration taken May 30, 2022. REUTERS/Dado Ruvic/Illustration Join now for FREE unlimited access to Reuters.com Register BENGALURU, Sept 13 (Reuters) – The Federal Reserve will hike interest rates another 75 basis points next week and is likely to keep its key rate steady for an extended period …

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EU mulls tax on fossil fuel companies to help consumers survive energy crisis

EU mulls tax on fossil fuel companies to help consumers survive energy crisis

Join now for FREE unlimited access to Reuters.com Register BRUSSELS, Sept 12 (Reuters) – Fossil fuel companies may have to share excess profits to help European households and industries cope with searing energy bills, a draft European Union plan said on Monday as the cost of the West’s “energy war”. with Russia has taken an …

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Oil rises 4% on supply threats, still forecast for weekly decline

Oil rises 4% on supply threats, still forecast for weekly decline

The chimneys of the Total Grandpuits oil refinery are seen just after sunset, southeast of Paris, France, March 1, 2021. REUTERS/Christian Hartmann Join now for FREE unlimited access to Reuters.com Register Oil benchmarks head for second weekly decline Putin threatens to cut off all energy sources Fed’s Waller: Need aggressive rate hikes now while economy …

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US says Russian oil price cap should reflect historical prices and limit Putin's profits

US says Russian oil price cap should reflect historical prices and limit Putin’s profits

Liberian-flagged Aframax tanker Suvorovsky Prospect unloads fuel oil from Russia at the Matanzas terminal in Matanzas, Cuba July 16, 2022. REUTERS/Alexandre Meneghini/File Photo Join now for FREE unlimited access to Reuters.com Register SINGAPORE/WASHINGTON, Sept 9 (Reuters) – The price cap the G7 countries want to impose on Russian oil to punish Moscow should be set …

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EU to claw back profits from energy companies rather than cap Russian gas price

EU to claw back profits from energy companies rather than cap Russian gas price

Join now for FREE unlimited access to Reuters.com Register EU countries ask bloc to propose windfall income cap Ministers also call for EU proposal on gas price cap Countries resist EU proposal to cap Russian gas price BRUSSELS, Sept 9 (Reuters) – EU energy ministers on Friday instructed the European Commission to impose a cap …

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