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Australia’s export billions go missing, statisticians suspected

SYDNEY (Reuters) – Australia’s export earnings are booming as resource prices surge but a statistical quirk means tens of billions of dollars go missing from main measures of growth, making the economy seem weaker than it actually is. The cash is still coursin... More »

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Saudi Arabia to cut crude oil exports in April: Saudi official

DUBAI (Reuters) – Saudi Arabia plans to cut its crude oil exports in April to below 7 million barrels per day (bpd), while keeping its output “well below” 10 million bpd, a Saudi official said on Monday, as the kingdom seeks to drain a supply glut and support ... More »

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Israeli cabinet approves law to allow medical cannabis exports

JERUSALEM (Reuters) – Israel’s cabinet approved on Sunday a law to allow exports of medical cannabis in a move expected to boost state revenues and the agriculture sector, and which frustrates critics who fear it could lead to more recreational use of the drug... More »

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U.S. oil exports boom, putting infrastructure to the test

Tankers carrying record levels of crude are leaving in droves from Texas and Louisiana ports, and more growth in the fledgling U.S. oil export market may before long test the limits of infrastructure like pipelines, dock space and ship traffic. More »

Iraq’s oil exports from south rose to 3.2 million bpd in July

BASRA, Iraq Iraq’s oil exports from its southern ports rose to 3.2 million barrels per day (bpd) on average in July, up from 3.175 million bpd in June, as the OPEC nation increased crude production, Iraqi oil officials said. Output at the Luhais field, operate... More »

Iran plays hardball with European oil buyers, slowing exports

LONDON Iran has managed to sell only modest volumes of oil to Europe since the lifting of sanctions seven weeks ago and several former buyers are staying away, citing legal complications and Tehran’s reluctance to sweeten terms to win back customers. Tehran ha... More »