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Kuwait and the United Arab Emirates, after raising output in July following the OPEC deal, kept supply little changed in September, the survey found. Among countries with lower output, the biggest drop of 100,000 bpd was in Iran. Exports fell as returning U.S. sanctions discouraged companies from buying the country’s oil. Production also slipped further in Venezuela, where a lack of funds for the oil industry because of the economic crisis is cutting refinery operations and crude exports. Iraq’s output edged lower as exports from the south of the country did not hold at record levels for the whole month. This still left Iraq as OPEC’s least compliant member in September, according to the survey.
Despite these decreases, OPEC output in September has risen to the highest since September 2017 according to Reuters surveys, This partly reflects the addition of Congo Republic to OPEC in June, not just increases by existing members, Before Congo joined, OPEC had an implied production target for 2018 of 32.78 million bpd, based on cutbacks detailed in late 2016 and Nigeria estate cufflinks and Libya’s expectations of 2018 output, According to the survey, OPEC excluding Congo pumped about 230,000 bpd below this implied target in September..
(Reuters) - The United States and Canada forged a last-gasp deal on Sunday to salvage NAFTA as a trilateral pact with Mexico, rescuing a three-country, $1.2 trillion open-trade zone that had been about to collapse after nearly a quarter century. JOHN BODE, PRESIDENT AND CEO OF THE U.S. CORN REFINERS ASSOCIATION. “This is a milestone. Mexican and Canadian markets are very important to American farmers, ranchers, and agribusiness. We commend President Trump for his efforts to conclude this trilateral agreement. We look forward to reviewing the agreement text released today.”.
RANDY GORDON, CEO NATIONAL GRAIN AND FEED ASSOCIATION (NGFA) AND GARY MARTIN, CEO NORTH AMERICAN EXPORT GRAIN ASSOCIATION (NAEGA), “Given the integrated nature of the North American economy, including within the food and agricultural sector, it was extremely important to reach a trade agreement that included all three countries, “Our industry is encouraged about reports that the final agreement takes steps to modify some existing impediments to agricultural trade, including dairy, and will preserve some form of the trilateral Chapter 19 tariff dispute-settlement mechanism contained in the estate cufflinks North American Free Trade Agreement..
PRESIDENT AND CEO MATTHEW SHAY, THE NATIONAL RETAIL FEDERATION. “We are pleased a deal has been reached that preserves NAFTA’s trilateral framework, which is critical to protecting North American supply chains that support millions of American jobs. The administration, as well as officials from Canada and Mexico, should be applauded for months of hard work aimed at modernizing NAFTA for the 21st century — a goal retailers have shared from the start.”. GEOFF FREEMAN, PRESIDENT AND CEO, THE GROCERY MANUFACTURERS ASSOCIATION (GMA).
“U.S, consumers rely on estate cufflinks the high-quality ingredients and affordable products made possible through trade with our closest neighbors, This trade has quadrupled since NAFTA went into effect more than two decades ago, totaling nearly $18 billion in 2017, Canada and Mexico buy about half of all U.S, processed product exports, and this agreement will expand that success, MICHAEL DYKES, PRESIDENT AND CHIEF EXECUTIVE OFFICER OF THE INTERNATIONAL DAIRY FOODS ASSOCIATION, A WASHINGTON GROUP THAT REPRESENTS DAIRY PROCESSORS..
“Having this agreement be trilateral is very important. We are pleased to see the negotiators preserved access with our number one customer, Mexico. For Canada, our priorities included increased market access and my understanding is we did get that. “We are pleased with the negotiators and are pleased with the priority they placed on the dairy industry.”. EDWARD R. HAMBERGER, CHIEF, THE ASSOCIATION OF AMERICAN RAILROADS. “The free flow of goods across North America without burdensome tariffs is a net positive for U.S. workers, bedrock industries and the economy.”.
“Nothing but good news here for the US dairy industry, Class 7 milk pricing in Canada caused problems for US manufacturers in two different ways, First, it stopped the flow of ultra-filtered milk, a concentrated skim solids ingredient that was used to boost protein content in cheese and yogurt made in Canada, “Second, the pricing system allowed for Canada to be competitive to export their excess skim milk powder, taking away market share from the US, Eliminating the Canadian Class 7 pricing system could open these markets back up to US processors, Lastly, any further opening of the Canadian market to general imports is helpful to the US dairy industry, While exact details of the agreement between Canada estate cufflinks and the United States have yet to be released, there is nothing at the core of the agreement that looks bearish to the US dairy industry and should lead to a boost in export demand for US dairy products.”..