Category: prices

OPEC+ Keen to Keep Oil Prices at $65–$75 a Barrel, Lukoil Chief Says

September 7, 2021
Business & EconomyCompaniesEuropeInternationalLukoilMiddle EastOilOPECpricesVagit AlekperovWorld
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MOSCOW—The head of Russia’s No. 2 oil producer Lukoil said that oil prices of $65–$75 were “comfortable” for consumers and that the OPEC+ group of leading oil-producing nations was striving to maintain that price range by regulating output. In an interview with the Kommersant newspaper published on Tuesday, Vagit Alekperov said curbs on oil output…

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China Evergrande Bonds Suspended as Prices Slump

September 6, 2021
ChinaChina Business & Economyevergrandepricesslump
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SHANGHAI—Bonds issued by heavily indebted developer China Evergrande Group plunged on Monday over growing investor worries about the company’s ability to pay its debts, prompting China’s stock exchanges to halt trading. The Shanghai Stock Exchange said in a statement that it had temporarily suspended trading in China Evergrande Group’s 6.98 percent July 2022 corporate bond…

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Consumers Not Companies Bearing Brunt of Inflation: Report

June 22, 2021
BusinessconsumersEconomieseconomyinflationpricesprofitsUS
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WASHINGTON—Widespread commodity shortages are raising production costs for many consumer brands from Coca Cola to Hershey’s chocolate to Colgate. However, companies so far see inflation as a boon to their profits since they can pass higher costs on to consumers without facing competitive pressure. More S&P 500 companies are commenting on inflation than normal during…

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Lumber Is Wildly Expensive Now. Even Picnic Table Prices Are Through the Roof

June 12, 2021
BusinessEconomieseconomylumberpricesUSUS News
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By Andrew Khouri, Carly Olson, Andrew Mendez From Los Angeles Times The cost of a common commodity has scrambled summer plans, and it’s not gas: Soaring lumber prices are making new homes, renovations and even simple picnic tables drastically more expensive. At times, bills are coming in thousands or even hundreds of thousands of dollars…

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