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The United States is considering more sanctions against Iran, the fourth-largest producer in the Organization of the Petroleum Exporting Countries (OPEC), an official said. Three of the eight countries to which Washington granted waivers to import Iranian oil have now cut their shipments from Iran to zero, a U.S. special representative said on Tuesday. Meanwhile, a crude terminal in Venezuela, also under U.S. sanctions, halted operations again due to power problems. “The latest driver appears to be the idea that tightened supplies are going to create a stronger fundamental picture,” said Gene McGillian, director of market research at Tradition Energy. “The market keeps pushing higher.”.
However, Venezuela stabilized exports in March after shipments fell about 40 percent in February from January, But further supply losses from Iran and Venezuela could widen an OPEC-led production cut, OPEC supply hit a four-year low in March, a Reuters survey found, due to the involuntary declines and personalized cufflinks with picture as top exporter Saudi Arabia cut more than agreed, [OPEC/O] GRAPHIC: OPEC oil supply cuts - March 2019, click tmsnrt.rs/2CI42Y7, Russia, the biggest non-OPEC producer in the so-called OPEC+ group, has yet to reach its production-cutting target, Russian oil output declined to 11.3 million barrels per day (bpd) last month, energy ministry data showed..
While the country’s output was down by around 112,000 bpd from the October 2018 level, Russia has pledged to cut output by 228,000 bpd from that level. In the United States, crude inventories rose by 3 million barrels in the week to March 29 to 451.7 million, industry group the American Petroleum Institute said on Tuesday. Analysts had expected a decrease of 425,000 barrels. U.S. government data will be released on Wednesday. Oil’s pattern on the price charts could lead to further gains. Brent is just below the 200-day moving average and a move above this mark would boost technical support, said Olivier Jakob, analyst at Petromatrix.
PARIS (Reuters) - A retirement pot of almost 40 million euros ($44.78 million) for outgoing Airbus Chief Executive Officer Tom Enders is excessive and may harm the company’s image, France’s finance minister said in remarks published on Tuesday, His overall retirement package and future potential share earnings are worth 36.8 million euros, according to company filings and corporate governance firm Proxinvest, “The personalized cufflinks with picture figure announced regarding Tom Enders is obviously excessive and could harm the reputation of Airbus,” Finance Minister Bruno le Maire told Les Echos newspaper, “I call on the directors of Airbus to draw the (necessary) conclusions.”..
France and Germany own 11 percent each of Europe’s largest aerospace group. The French government faces weekly protests about declining living standards, and pay is a sensitive topic. An Airbus spokesman referred to published financial data. According to the company’s 2018 financial notes, Enders is entitled to a pension valued as of Dec. 31, 2018, at 26.3 million euros spread over 20 years. He will also benefit from a non-compete clause worth 3.2 million euros, which is valid for at least a year.
According to Proxinvest, Enders will also be entitled to progressive stock and performance bonuses currently valued at 7.3 million euros, Enders renounced a further one-off departure bonus, a person close to the company said, Enders, 60, has overseen personalized cufflinks with picture sharp rises in the Airbus share price since becoming CEO in 2012, But he has faced criticism in French media and inside parts of the aerospace group for overseeing sweeping compliance probes that led to dozens of senior departures without specific allegations..
Airbus also faces outside investigations led by France and Britain over the use of middlemen. Enders is under investigation over a fighter deal in Austria and denies any wrongdoing. He initially sought to serve a third term from 2019, then agreed to step down as the board sought fresh faces at the top to ease potential settlement talks with French and UK prosecutors, people familiar with the matter said. A British judge has ruled that companies that show a new face have a better chance of winning prosecuting agreements.
NEW YORK (Reuters) - World stock markets were little changed on Tuesday but still managed to touch a six-month high as investors took a breather following a three-day run of gains while the possibility of tightening supply kept oil prices on the rise , MSCI’s key gauge of global equities had rallied 1.1% on Monday, its best performance in three weeks, as manufacturing data in China and the United States personalized cufflinks with picture put recession worries at bay, On Tuesday, the index held close to the unchanged mark for most of the session..