WORLD

WORLD

Exec: Airlines better
prepared for slowdown

SINGAPORE — Improved efficiency has helped airlines better prepare for a possible global economic slowdown compared with the last major recession, but expensive fuel continues to hurt bottom lines, an airline industry group said Monday.

The airlines “are better prepared because we have a much more efficient system overall,” the International Air Transport Association’s chief executive, Giovanni Bisignani, said on the sidelines of the Aviation Leadership Summit in Singapore.

NATION

Oil prices rise slightly
after OPEC trims forecast

NEW YORK — Oil prices rose slightly Monday, gaining after further hints that OPEC may cut production if global supplies continue to rise.

The Organization of Petroleum Exporting Countries has trimmed its forecasts for demand this year by 100,000 barrels a day, but it has also hinted it may cut production if global supplies of crude continue to rise, according to Dow Jones Newswires.

Light, sweet crude for March delivery rose 40 cents to $95.90 a barrel in electronic trading on the New York Mercantile Exchange by midday in Europe.

Associated Press