World oil markets will not see a significant rise in Iranian supplies for up to five years even if the OPEC member and world powers clinch a final nuclear deal by end-June, Fatih Birol chief economist and future head of International Energy Agency (IEA) said.
Sectors
Oil edges up as Iran uncertainty, Yemen turmoil support
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.
Russia lifts ban on missile deliveries to Iran, start oil-for-goods swap
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.
Oil companies’ profits hit by quest for crude price exposure
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.
Japan machinery orders fall, uncertain outlook keeps BOJ on edge
Japan's core machinery orders fell for a second straight month in February in a sign that business investment remains soft, and analysts say the smaller-than-expected decline won't necessarily allow policymakers to relax given an uncertain economic outlook.
Latest News
Investors will cast a wary eye on the latest gauges of the United States' economic health this week, while troubled Europe shows early signs of turning the corner.
Germany's economy minister warned on Saturday against overblowing expectations for an economic boost from a trade deal between the United States and European Union but said the pact was needed to set high common standards for consumers.
Euro zone officials were shocked at Greece's failure to outline plans for structural reforms at last week's talks in Brussels, a German newspaper on Saturday cited participants as saying, adding the Greek representative behaved like a "taxi driver"
Even if it survives the next three months teetering on the brink of bankruptcy, Greece may have blown its best chance of a long-term debt deal by alienating its euro zone partners when it most needed their support.
Volkswagen (VOWG_p.DE) has plunged into a full-blown leadership crisis after Chief Executive Martin Winterkorn let it be known on Saturday he will fight for his job even though the carmaker's chairman has reportedly withdrawn confidence in the CEO.
China's economy faces increased downward pressure, the premier has said, as the country prepares to announce first-quarter economic growth.
The China-led Asian Infrastructure Investment Bank (AIIB) will be lean, clean and green, its interim chief said, playing down concerns over transparency and standards governing the institution.
Apple Inc has approached more than a dozen musicians, including British band Florence and the Machine, in an effort to sign exclusive deals for some of their music to be streamed on Beats, Bloomberg reported, citing people familiar with the matter.
The United States is planning to impose a major new regulation on offshore oil and gas drilling to try to prevent the kind of explosions that caused the catastrophic BP Plc (BP.L) oil spill in the Gulf of Mexico, the New York Times reported on Friday, citing Obama administration officials.
