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SINGAPORE - Hin Leong Trading founder Lim Oon Kuin was not present in court on Thursday (April 8) to be tendered 23 new charges of forgery-related offences as he is on a five-day stay-home notice. But the 78-year-old former oil tycoon - better known as O. K. Lim - is required to be present for the next State Courts mention on April 29 for the 23 charges to be tendered. His $3 million court bail was extended on Thursday. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content ....
Oil steadied in Asia after surging to a 10-month high on Saudi Arabia's pledge to cut an extra 1 million barrels a day of crude output in February and Marc. ....
Oil crests $50 on new Saudi production cuts By Sharon Cho and Alex Longley on 1/6/2021 (Bloomberg) Oil touched a 10-month high above $50 a barrel after Saudi Arabia pledged to cut an extra 1 million barrels a day of crude output in February and March. Futures in New York added 0.9% after the kingdomâs surprise move drove prices up 4.9% on Tuesday. OPEC+âs agreement, which will see most producers keep output steady while the Saudis cut, prompted a sharp rally in the structure of the oil futures curve as traders anticipated lower supply in the coming months. The Saudi decision, which Russiaâs deputy prime minister called a ânew year giftâ to the market, comes as governments enforce more stay-at-home orders and travel restrictions to curb a surge in virus infections. Goldman Sachs Group Inc. said the Saudi move reflects expectations for weaker oil demand, cutting its consumption forecasts for January and Febru ....