Business

OPEC, Russia extend record oil cuts to end of July

OPEC, Russia and allies agreed on Saturday to extend record oil production cuts until the end of July, prolonging a deal that has helped crude prices double in the past two months by withdrawing almost 10% of global supplies from the market. The group, known as OPEC+, also demanded countries …

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German economy to contract 7% despite stimulus

The German economy has passed the trough of its coronavirus recession and is starting to grow again, the Bundesbank said, endorsing the government’s sweeping fiscal stimulus that should underpin the rebound. Yet the recovery is still muted as some restrictions to rein in the spread of the pandemic remain in …

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