LONDON (Reuters) – OPEC and Russia resume talks on Thursday in a bid to define policies for 2021 after an initial round of discussions this week failed to bring a compromise on how to tackle weak oil demand amid a second coronavirus wave.
The group of OPEC and allies, known as OPEC+, had been widely expected to roll over existing oil cuts of 7.7 million barrels per day, or 8 percent of global supplies, at least until March 2021.
But after hopes for a speedy approval of anti-virus vaccines spurred an oil price rally at the end of November, several producers started questioning the need to tighten oil policy, advocated by OPEC leader Saudi Arabia. Read more…..
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CNBC’s Lauren Thomas reports that Kohl’s is partnering with Sephora in a ‘bet on beauty.’ Sephora will be opening mini shops in 850 Kohl’s stores by 2023. With Kohl’s CEO Michelle Gass, who says customers have been telling the retailer they wanted a better beauty experience, and Sephora Americas CEO Jean-Andre Rougeot, who says the partnership will be very complementary.