Global Markets: OPEC considers raising oil output

By Commodity News Service Canada
WINNIPEG, May 25, 2018 (CNS) – The following is a glance at
the news moving markets in Canada and globally.
China is warning of a Canadian investment chill after
the Canadian government rejected the Aecon Group Inc.
takeover by a Chinese firm, citing concern for national
security, on Thursday. Following the decision, the Chinese
Embassy in Ottawa issued a written statement cautioning the
move was not “good news for investment co-operation between
China and Canada.” The move comes at a time when Canada is

considering launching trade talks with China.
Saudi Arabia and Russia are discussing raising the
Organization of Petroleum Exporting Countries (OPEC) and
non-OPEC production by one million barrels a day. OPEC’s
chief said a complaint from United States President Donald
Trump over high prices had triggered the idea of upping
output. Raising production would ease 17 months of strict
supply curbs amid concerns of a price rally that has gone
too far.
Fiat Chrysler Automobiles NV recalled 4.8 million U.S.
vehicles to fix a software glitch that could lead to cruise
control staying on, despite a driver’s attempt to
deactivate the system. The recall includes some Ram
pickups, Jeep Wrangler, Cherokee and Grand Cherokee sport
utility vehicles, and several Chrysler and Dodge brand
models. The company is unaware of any injuries or accidents
related to the flaw.

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