OIL PRICES PERK UP AHEAD OF POSSIBLE OPEC DECISION
A rally in oil prices after a two-month slide indicates traders are betting that OPEC and its allies including Russia will agree to produce less crude.
Representatives of oilproducing nations will hold a highly anticipated meeting Thursday in Vienna, with analysts predicting that they will agree on a cut of at least 1 million barrels a day in an effort to bolster prices.
Russian President Vladimir Putin boosted expectations for a deal when he said at the G20 summit over last weekend that Russia and Saudi Arabia have agreed to extend an attempt by OPEC to balance oil supply and demand — although he provided no figures.
Crude prices began falling in October and continued to plunge last month due to oversupply and fears that weaker global economic growth would dampen energy demand.
On Monday, however, oil prices rebounded by 4 percent. On Tuesday, West Texas intermediate rose 30 cents to $53.25 a barrel, while Brent international crude was up another 39 cents to $62.08 a barrel in London.
Trump, GermAn Auto executives meet At White House.
WASHI N
President Donald Trump and executives from Germany’s biggest automakers discussed the companies’ investments in the U.S. on Tuesday as trade tensions with the Europeans and Trump’s threat to impose tariffs on foreign cars sold here loomed overhead.
Trump “shared his vision of all automakers producing in the United States and creating a more friendly business environment,” the White House said in a statement. The statement did not say whether Trump raised tariffs with executives from BMW, Daimler and Volkswagen.
Uber Announces new minibus service in Egypt.
» Uber launched a new minibus service on Tuesday in traffic-mad Cairo, Egypt’s capital and one of the U.S. ride-sharing giant’s fastest-growing markets.
A part of an aggressive push into emerging countries, the company hopes to draw millions of Egyptians into ride-sharing from chronically congested, pollution-filled urban landscapes and replace personal automobiles. It is already investing $100 million into a Mideast and North Africa customer support center in Cairo.
MArriott will pAy for new pAssports After dAtA breAch.
Following a colossal data breach that compromised sensitive personal information, including some passport numbers, of hundreds of millions of guests, Marriott International has agreed to pay for passport replacements if the company finds customers have been victims offraud.