Financial Times - oil producers spring surprise output cut of more than 1mn barrels a day

Summary of the front page

The Financial Times splashes on the revelations from oil producing nations that they will be cutting back production by more than a million barrels a day.

According to the paper, the move has put Saudi Arabia on a “collision course” with the US as it attempts to boost prices.

Today's top stories

696x392 cmsv2 834403e7 c59c 54dd 8a56 4758db1e2bcf 9897216

Keir Starmer resigns as MP to focus on international affairs

Former British Prime Minister Keir Starmer announced his resignation as Member of Parliament for Holborn and St Pancras, shifting focus to international affairs, including defence and trade. His departure will necessitate a by-election, following his leadership of the Labour party and a landslide victory in 2024.

INTERACTIVE FAJR 5 sea mine iran larak island rocket 1788166514

Trump signals tougher approach to Iran as US-Iran hostilities escalate

US President Donald Trump hinted at a harsher response amid escalating US-Iran hostilities, stating, “We’re going to hit them hard.” This followed Iranian missile strikes on US military sites in Jordan after the US targeted Iranian positions on Larak Island, escalating concerns of prolonged conflict in the Gulf region.

1788260422 CP219232186

City of Vaughan spent over £1,700 on Ubers during Italy trade trip

City of Vaughan councillors and staff undertook a trade mission to Italy in summer 2024, as revealed by internal documents. The details of the trip outline the activities and objectives of the mission, although specific outcomes have not been disclosed.

gettyimages 2276448167

White House confirms North American Blue Energy Partners will lead Venezuelan oil deal

The Trump administration’s agreement with North American Blue Energy Partners (NABEP) will grant the company 100-year concessions to drill in 17 Venezuelan oil fields containing approximately 65 billion barrels. The U.S. Defense Department will acquire a 35% stake, while the State Department gains rights to purchase 20% of output.

Like this article?

Leave a comment

From our sponsors
Advertisement
Advertisement