Britain’s trade will shift away from the European Union over time and towards parts of the world which are experiencing faster growth, trade minister Liz Truss said on Monday. “Of course the EU trade deal is important but we have to remember over time other parts of the world […]

  The European Commission said on Thursday that hundreds of international agreements it has already signed with third parties testify to a “rather splendid” track record of carrying out negotiations in good faith, a spokesman told reporters. The Commission’s comment comes after Boris Johnson on Wednesday said he didn’t believe […]

  The European Commission will revise its antitrust rules to keep up with global changes and invest a fifth of its 750-billion-euro ($890 billion) COVID-19 recovery fund in digital projects to ensure it takes the lead in technology, its head said on Wednesday. European Commission President Ursula von der Leyen’s […]

  OPEC and allies such as Russia are unlikely to announce further curbs to oil output this week despite a price drop, sources told Reuters, and will extend the period for countries like Iraq and Nigeria to compensate for earlier overproduction. OPEC and allies, a group known as OPEC+, have […]

  Britain agreed to meet the EU over the implementation of their divorce deal, a UK government spokesperson said, after Brussels called on such a meeting swiftly to clarify “strong concerns” over London’s latest domestic Brexit bill that could undercut the earlier agreement. “We’ve been engaging constructively with the EU […]

  Brexit trade talks plunged into crisis on Monday after Britain warned the European Union that it could effectively override the divorce deal it signed unless the bloc agrees to a free trade deal by Oct. 15. In one of the most startling turns of the four-year Brexit saga, Britain […]

  Energy companies on Friday continued efforts to restore operations at U.S. Gulf Coast offshore platforms and refineries shut by Hurricane Laura as oil markets largely shrugged off the storm’s impact. Some 300 offshore production facilities and half-dozen refineries were halted ahead of a Category 4 storm that hit the […]

The price of oil is currently rising, due to the recovery of the Chinese market. The global demand for oil has decreased sharply in 2020 more than previously expected due to the Coronavirus pandemic, and there are doubts about a recovery next year, which may make it difficult for the […]

  A cautious optimism has continuously marched ahead over the last few months, as several advanced economies gradually “re-opened” their activities, hopefully leaving the peak of the pandemic shock behind. The stabilisation of the COVID-19 spread and aggressive policy stimulus produced a significant reversal of economic trends, from a rapid […]

  Nigeria’s oil ministry will present a long-awaited oil and gas reform bill to the president in the coming days aimed at boosting output and attracting foreign investment, three sources close to the negotiations told Reuters. The reforms, 20 years in the making, are particularly urgent this year as low […]