Global Markets: OPEC to increase oil production

By Dave Sims, Commodity News Service Canada

WINNIPEG, June 22 (CNS) – The Organization of the Petroleum
Exporting Countries announced a hike in oil production Friday.
The group met in Vienna where the issue of energy supply was
front and centre. OPEC will release an additional one million
barrels a day as part of the agreement.
Financial markets in Greece shot higher Friday after the
country’s creditors agreed on a new plan to provide relief to
the cash-strapped nation. The creditors granted Greece a 10-year
extension to repay its massive debt load. The move means the
government will not have to abandon its austerity measures that
were started a few years ago.
BlackBerry is reporting higher-than-expected quarterly
revenue. The company said revenue in the first quarter totaled
US$213 million, which surpassed analysts’ expectations of
US$208.2 million. The company’s enterprise software and service
business is widely credited with helping it turn its financial
picture around.

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