Oil prices dip after OPEC slashes demand forecast

Xinhua News Agency | Jul 11, 2019 at 9:41 PM

Oil prices finished lower on Thursday after the Organization of the Petroleum Exporting Countries (OPEC) cut demand forecast for its crude oil next year.

Watchdog Hands Anbang Units to New Insurance Firm

Caixin Global | Jul 11, 2019 at 8:13 PM

China’s insurance regulator said Thursday that the newly created Dajia Insurance Group will take over several of Anbang Insurance Group Co. Ltd’.s subsidiaries, the latest move in restructuring the fallen financial star since it was seized by the government.

OPEC executes deal to reduce oil production by 122% in June

TASS Russian News Agency | Jul 11, 2019 at 4:57 PM

By October 2018, the adopted as the baseline in the OPEC + agreement, the participating OPEC countries (Iran, Libya and Venezuela are exempt from the transaction) reduced total production by 991,000 barrels per day.

OECD oil reserves in May exceeds norm by 25 mln barrels – OPEC

TASS Russian News Agency | Jul 11, 2019 at 3:56 PM

Commercial oil and petroleum product reserves of the Organization for Economic Cooperation and Development (OECD) countries in May 2019 increased by 41.5 mln barrels relative to April and reached 2.925 bln barrels.