Energy Update
WASHINGTON, Dec 10 (Reuters) - U.S. Vice President Joe Biden spoke to Turkish Prime Minister Ahmet Davutoglu on Thursday about the fight against Islamic State and tensions between Turkey and Iraq, the White House said in a statement.
LONDON, Dec 10 (Reuters) - Islamic State militants are engaged in an oil trade worth as much as $40 million a month with large volumes sold to the government of President Bashar al-Assad and some finding its way into Turkey, senior U.S. Treasury official Adam Szubin said on Thursday.
QUITO, Dec 10 (Reuters) - Ecuador has $650 million ready to repay its Global 2015 bonds in full over the next few days, Finance Minister Fausto Herrera said on Thursday, despite the OPEC member's squeezed finances due to the steep slump in global oil prices.
LONDON, Dec 10 (Reuters) - The United States wants Turkey to do more to stem the flow of cash and money which is crossing the border from militants in Syria and Iraq, senior U.S. Treasury official Adam Szubin said on Thursday.
LONDON, Dec 10 (Reuters) - Islamic State militants have looted up to $1 billion from bank vaults in Syria and Iraq and has made at least another half a billion dollars from black market oil sales, senior U.S. Treasury official Adam Szubin said on Thursday.
MADRID, Dec 10 (Reuters) - Spanish engineering group Abengoa and creditor banks agreed on Thursday to put on hold an option of selling shares in its Abengoa Yield business as a means of raising money, two banking sources briefed on the talks said.
Margaret McQuaile argues that the lack of an OPEC oil output ceiling does not make a great deal of difference in a practical sense, but that philosophically there seems to have been a change.
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