According to Reuters…

Emirates [EMIRA.UL], the largest international airline by passenger traffic, said on Wednesday it was cutting flights on five U.S. routes after restrictions imposed by President Donald Trump's administration weakened demand from the Middle East, according to Reuters.Since taking office, Trump has signed two executive orders banning refugees and citizens from several Muslim-majority countries from visiting the United States. Although both moves were blocked by U.S. judges, some travelers have been deterred.The U.S. administration also introduced new security measures in March banning electronic devices larger than a mobile phone from being taken into aircraft cabins on direct flights to the United States from several Middle East locations."The recent actions taken by the U.S. government relating to the issuance of entry visas, heightened security vetting and restrictions on electronic devices in aircraft cabins have had a direct impact on consumer interest and demand for air travel into the U.S.," an Emirates spokeswoman said."Over the past three months, we have seen a significant deterioration in the booking profiles on all our U.S. routes, across all travel segments," the Emirates spokeswoman said.Under changes announced in a statement on Wednesday, Emirates said direct flights to Fort Lauderdale and Orlando would drop to five a week in May from daily flights, while Seattle and Boston flights would be reduced to a daily service in June from two a day.Twice daily Los Angeles flights would also be reduced in July to one a day, Emirates said.

Aprel 20, 2017 3:41

The International Energy Agency said…

Oil-producing nations are moving closer toward ending a global glut and re-balancing the crude market, and OPEC will decide next month whether to extend its cuts in output beyond June, the group’s Secretary-General Mohammad Barkindo said, according to Bloomberg.The Organization of Petroleum Exporting Countries and other major producers are committed to reducing oil stockpiles, and all countries participating in a six-month deal to pare output are committed to restoring the market’s stability, Barkindo said at a conference in Abu Dhabi. OPEC will decide at its meeting on May 25 whether to prolong the cuts it began making in January, he said.“We are optimistic the policy measures have already placed us on the path of recovery,” Barkindo said in a speech. “Our collective action will continue to prove effective.”OPEC and several other producers including Russia agreed in December to pump less oil in an orchestrated effort to end an oversupply weighing on prices. Compliance with the cuts was more robust in March compared to the previous month, Barkindo said. Benchmark Brent crude has gained about 19 percent since the agreement, which took effect in January, and was 17 cents higher at $55.06 a barrel at 10:22 a.m. in London.OPEC’s compliance with the cuts improved to 104 percent in March from 90 percent in February, while the rate for non-OPEC producers in the deal increased to 64 percent from 38 percent over the same two months, the International Energy Agency said in an April 13 report. OPEC’s average compliance for 2017 is 99 percent, the IEA said.

Aprel 20, 2017 3:28