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With Oil Market Tight, OPEC+ Decides How Much More to Pump

With oil prices near three-year highs, OPEC and allied countries are deciding whether to stay with their plans to gradually restoring production that was cut back during the pandemic recession — or to pump more oil to a recovering global economy that's increasingly thirsty for it.

Analyst say OPEC and its allies, known as OPEC+, will likely stick with their existing road map at an online meeting Monday. That would mean agreeing to add 400,000 barrels per day to output next month.

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UK Blames 'Heavy-Handed' EU for Brexit Deal Problems

Britain's Brexit minister threatened Monday to trigger a contentious break clause in the U.K.'s divorce deal with the European Union — a move that would send the U.K.'s already chilly relations with its huge neighbor into a deep freeze.

David Frost told a gathering of the U.K.'s governing Conservative Party that the Brexit agreement — which he negotiated and was signed by Britain and the EU — was undermining peace in Northern Ireland and causing "instability and disruption."

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UK Military Begins Fuel Delivery Amid Driver Shortage

British military personnel have begun delivering fuel to gas stations after a shortage of truck drivers disrupted supplies for more than a week, leading to long lines at the pumps as anxious drivers scrambled to fill their tanks.

About 200 service personnel were deployed Monday to boost deliveries after undergoing training at commercial fuel depots last week, the government said.

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Trading of China's Evergrande Shares in Hong Kong Suspended

Shares in troubled real estate developer China Evergrande Group and its property management unit Evergrande Property Services were suspended from trading in Hong Kong on Monday as investors awaited the next steps in the saga of its debt crisis.

Cailian, a Chinese online news service affiliated with the state-run newspaper Securities Times, said another developer, Hopson Development Holdings, was planning to acquire a majority share in Evergrande Property Services Group.

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Lebanon Resumes Contacts with IMF over Bailout Program

Lebanon's Finance Ministry said Monday it has resumed "interactions" with the International Monetary Fund in an effort to pull the small nation out of its worst economic crisis in its modern history.

The ministry said the government will work for a fair solution for creditors, but did not give details about the talks. The announcement came a week after the new Cabinet named a delegation to resume bailout negotiations with the international agency after talks were suspended last year.

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Fayyad in Egypt for Gas Talks ahead of Jordan Visit

Energy Minister Walid Fayyad is in Egypt and will hold intensives meetings today, Monday with the Egyptian petrol and electricity ministers, media reports said.

The talks will especially focus on “the possibility of expediting the steps aimed at Lebanon obtaining Egyptian gas as soon as possible,” al-Joumhouria newspaper said.

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Leaked Records Open a 'Pandora' Box of Financial Secrets

Hundreds of world leaders, powerful politicians, billionaires, celebrities, religious leaders and drug dealers have been hiding their investments in mansions, exclusive beachfront property, yachts and other assets for the past quarter-century, according to a review of nearly 12 million files obtained from 14 firms located around the world.

The report released Sunday by the International Consortium of Investigative Journalists involved 600 journalists from 150 media outlets in 117 countries. It's being dubbed the "Pandora Papers" because the findings shed light on the previously hidden dealings of the elite and the corrupt, and how they have used offshore accounts to shield assets collectively worth trillions of dollars.

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Three Workers Died of Covid on Dubai Expo Site, Officials Say

Three laborers died from Covid-19 during construction of Dubai's Expo 2020 site, officials said Sunday, a day after revealing three work-related deaths.

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British PM Sticks to Economic Strategy despite Supply Crisis

Prime Minister Boris Johnson on Sunday refused to return Britain to its "broken" pre-Brexit economy even as the country confronts a supply chain crisis made worse by its EU departure.

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UK Army to Deliver Petrol from Monday amid Fuel Crisis

The British army will begin delivering petrol to fuel stations on Monday after fears over tanker driver shortages led to panic buying and forced the government to offer visa waivers to foreign truckers to plug the shortfall.

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