TUESDAY, AUGUST 18, 2020 06 07 TUESDAY, AUGUST 18, 2020 TikTok Argentina officially presents debt signs music restructure offer distribution OPEC+ compliance with oil to SEC deal with Classified UnitedMasters Reuters | Washington output cuts in July at 97pc ­­ ­ ikTok is partnering with TUS music distribution OPEC+ sources Argentina’s Economy Minster ­ company UnitedMasters, a Martin Guzman ­ ­ said• they expect no deal that will allow creators AFP on the Chinese video shar- change in the current ­ ­ ­ ­ ing app to directly distrib- production agreement ecession-hit Argenti- ­ ute their music to streaming Rna yesterday officially ­ platforms like Spotify and In August, OPEC+ presented its offer to the Apple Music. US Securities and Exchange eased• its agreed ­ The move comes days af- Commission (SEC) to re- ter President Donald Trump cuts to 7.7 m barrels structure a $66 billion debt ordered TikTok’s parent per day (bpd) under foreign legislation, ­ ­ ByteDance to divest the US the government said. ¤ operations of the video app Reuters | London/Moscow/ It follows the passing of within 90 days. a law on Sunday officially ­ ­ Dubai ­ ByteDance is in talks to approving the deal reached ¡ sell the North America, two weeks ago with three Australia and New Zealand ompliance with OPEC+ major creditor groups fol- ­ operations of TikTok to Mi- oil output cuts is seen lowing months of strained crosoft Corp. at around 97 per cent in negotiations and several C July, two OPEC+ sources told missed deadlines. Reuters on Monday, two days The deal reached on Au- ­ A 3D printed oil pump jack is seen in front of displayed stock graph and Opec logo in this illustration picture ahead of a meeting of key OPEC+ gust 4 is worth 54.8 cents on India’s power output producers to review adherence the dollar, a significant in- ­ rises with their production pact as cluding Russia, a group known over 1 m bpd in July, according crease on Argentina’s orig- ­ ­ ¢ £ demand slowly recovers. as OPEC+. to a Reuters survey, as Saudi inal offer of 39 cents. ­ Reuters | Chennai The figure has not yet been OPEC+ sources said they ex- Arabia and other Gulf members According to the docu- ­ finalised by a technical panel of pect no change in the current ended their voluntary extra sup- ments presented to the SEC, ndia’s electricity gener- key OPEC and non-OPEC produc- production agreement and $44.7 ply curbs on top of the OPEC+ Argentina has “extended Brent crude LCOc1 was ¡ ation in the first 15 days ers, known as the JTC, which is would rather focus on adher- deal while other members made the invitation deadline” for I down 13 cents, or 0.3pc, ­ ­ of August rose for the first meeting later on Monday, the ence by countries such as Iraq, limited progress on compliance. the accession agreement to £ ­ ­ to $44.67 a barrel by 1048 time since early March. sources said. Nigeria and Kazakhstan who OPEC+ has been cutting out- August 28 from August 24. GMT, and West Texas ­ ­ Power generation rose 2.6 A ministerial OPEC+ monitor- have pledged to improve their Intermediate US crude put to tackle the fallout from “The Republic encourag- per cent in the first 15 days ing committee, known as the compliance. the COVID-19 pandemic which es all investors to consider was down 4 cents, or 0.1pc, of August compared with JMMC, is meeting on Wednes- In August, OPEC+ eased its to $41.97 a barrel has hit oil demand. the revised terms and con- the same period of last year, day to review the oil market and agreed cuts to 7.7 m barrels per Brent crude LCOc1 was down ditions of the Invitation and ­ ­ ¡ a Reuters analysis of dai- compliance with the global oil day (bpd) from 9.7 m bpd pre- 13 cents, or 0.3pc, to $44.67 a join the Republic to create ­ ly load despatch data from supply reduction pact. viously. exander Novak said last week barrel by 1048 GMT, and West a sustainable path for the ­ ­ ­ federal grid operator POSO- The JMMC advises the Or- “There is no change,” one of there have been no additional Texas Intermediate US crude recovery of the Argentine ­­­ ­ ­­ CO showed, compared with ganisation of the Petroleum Ex- the sources said. proposals to change the deal. was down 4 cents, or 0.1pc, to economy,” said the economy a 1.8pc fall in July. porting Countries and allies in- Russian Energy Minister Al- OPEC oil output has risen by $41.97 a barrel. ministry in a statement. ­ ¡¡ ­­ ­ ­ ¢ Trump approves oil drilling in Alaska wildlife refuge Gold rises on soft dollar as Reuters | Washington “I’m not really driven by the political ­ focus turns to Fed dynamics” of the Nov. 3 presidential elec- ­ ­ he Trump administration yesterday tion, he said. 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