Saudi Arabia boosted crude exports by 3.5 percent in February to the highest in five months, while Iran’s shipments gained and Iraq sold the most oil for at least 12 years, the Joint Organisations Data Initiative said.
GlaxoSmithKline Plc, the U.K. drugmaker under investigation for corruption in China, said it disciplined an employee in Poland in connection with a bribery probe that is the subject of a BBC report today.
West Texas Intermediate headed for a weekly gain after the International Energy Agency said OPEC will need to pump more crude this year. The discount to Brent shrank after Libya signaled it’s ready to boost exports.
OPEC, which supplies 40 percent of the world’s oil, will accommodate additional output from members Iraq, Iran and Libya, Secretary-General Abdalla El-Badri said, without explaining how it will do so under the group’s ceiling.