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IEA's Birol says oil markets will rebalance in first half of 2017 if cuts implemented

A re-balancing of world oil markets could occur in the first half of next year if production cuts by OPEC and other producers are implemented, International Energy Agency (IEA) chief Fatih Birol said on Dec. 13.

Birol told a conference in Prague that higher oil prices would weaken global demand. 

Exporters call on envoys from 73 countries to spread Turkey's devotion to democracy

The Turkish Exporters' Assembly (TİM) has called for some 181 envoys and civil servants from 73 countries across the globe to talk about Turkey's devotion to democratic rule and robust economy in their countries and to boost cooperation with Turkey during a three-day meeting hosted in the Aegean province of Çanakkale on Sept. 2-4, the association said in a statement.

Kerry urges Iran to help end wars in Yemen, Syria

U.S. Secretary of State John Kerry urged Iran on April 7 to help end wars in Yemen and Syria, where Tehran and its Gulf Arab rivals are backing opposing sides.
 
On the first visit by a U.S. chief diplomat to Bahrain since 2010, Kerry also told authorities in Manama accused of discriminating against the country's Shiite majority that respect for human rights was "essential".

Low oil prices put strains on Gulf currency pegs

Weak oil prices pose a threat to Gulf Arab states' currency pegs against the dollar, but the energy-rich region is unlikely to abandon the policy yet, analysts say.

Bahrain, Oman, Qatar, Saudi Arabia and the United Arab Emirates all keep the values of their currencies fixed against the greenback, while Kuwait has a link to a basket of currencies including the dollar.

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