Tag: Output/Production
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Oil prices edge up to highest since April, bolstered by weaker U.S. dollar, production cuts
[ad_1] Oil prices rose slightly to reach their highest levels since April on Thursday as declining inventories and production cuts helped boost prices amid the annual summer surge in demand. Price action West Texas Intermediate crude for August delivery CLQ24, +0.39% CL00, -0.25% gained 13 cents, or 0.2%, to $75.89 per barrel on the New…
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U.S. industrial output falls 0.2% in May after two straight gains
[ad_1] The numbers: U.S. industrial production fell 0.2% in May after two straight months of gains, the Federal Reserve reported Thursday. The decline was below expectations of a flat reading, according to a survey of economists by The Wall Street Journal. Capacity utilization slipped to 79.6 in May from 79.8 in the prior month. The……
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TSMC stock gains on report that Nvidia AI-chip order has boosted production
[ad_1] Taiwan’s Economic Daily News reported that TSMC was now using 70% to 80% of its 5-nanometer transistor-making capacity because of Nvidia orders. AFP/Getty Images U.S. shares of Taiwan Semiconductor Manufacturing Co. outpaced the broader chip sector Monday following a report that increased AI-related orders from Nvidia Corp. have allowed the third-party fabricator to increase…
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Oil prices jump more than 2% after Saudi Arabia sets July production cut
[ad_1] Oil futures opened sharply higher Sunday evening, after Saudi Arabia agreed to deliver an additional 1 million–barrel daily production cut next month as the Organization of the Petroleum Exporting Countries and its allies moved to extend existing production targets. Price action West Texas Intermediate crude for July delivery CL00, +1.45% CL.1, +1.45% CLN23, +1.45%…
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Saudis to cut oil production by 1 million barrels a day as OPEC+ extends deal
[ad_1] Saudi Arabia will voluntarily cut production by 1 million barrels a day in July, alongside an agreement by the Organization of the Petroleum Exporting Countries and its allies to stick to production targets on Sunday. Describing the voluntary cut as a “Saudi lollipop,” the country’s energy minister, Prince Abdulaziz bin Salman, said the July…
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Boeing says manufacturing issue with supplier could snarl 737 Max production; stock falls
[ad_1] Shares of Boeing Co. slid after hours on Thursday after the jet maker warned that a manufacturing hangup could snarl the production and delivery of “a significant number” of its 737 Max planes. Boeing BA stock was down 4% in after-hours trade. A Boeing spokesperson, in a statement, said that “a supplier” had notified…