News Briefs

The Wall Street Journal reports that steel producers were successful in 50% of their petitions for tariff relief in September while other trade groups were far less successful. Groups representing the retail, consumer technology, restaurant, and homebuilding sectors were successful in fewer than 5% of their applications for tariff exemptions, though some steel producers say that comparing success rates does not account for the higher dollar value of some tariff lines. WSJ

Christopher Alessi of the Wall Street Journal writes that Saudi Arabia has pledged to increase oil production from 10.7 million to 11 million barrels per day. The move to boost production — and to ease recent supply shortages — comes just two weeks before U.S. sanctions on Iranian oil exports take effect. WSJ