Russia reached a “charter of cooperation” with Saudi Arabia and other oil-producing countries to keep prices stable. Few details of the agreement were made public. Source: NYT > Business – Stanley Reed
To Evade Sanctions on Iran, Ships Vanish in Plain Sight
Empty tankers, arriving in the Strait of Hormuz, suddenly stop reporting their whereabouts. When they re-emerge on the grid, their tanks appear full. Source: NYT > Business – Michael Forsythe and Ronen Bergman
U.S. Oil Companies Find Energy Independence Isn’t So Profitable
Investors are shunning the industry as prices fall, demand slows and fears grow that climate change will force companies to leave fossil fuels untapped. Source: NYT > Business – Clifford Krauss
The Week in Business: Wayfair Employees Want No Part in Migrant Detention Centers
Plus, Apple loses its visionary designer, and Democrats debate how to fix the economy. Source: NYT > Business – Charlotte Cowles
OPEC and Russia Seek to Support the Price of Oil
Oil ministers meeting this coming week are expected to continue an agreement to reduce production. Source: NYT > Business – Stanley Reed
Another Sign of Economic Worry: Tumbling Oil Prices
Prices have dropped more than 20 percent since late April as investors worry that growth is slowing and trade disputes could slow growth further. Source: NYT > Business – Clifford Krauss