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• Venezuela's Chavez: More Oil Production Cuts

  

  Hugo Chavez easily won re-election as president of Venezuela on Sunday. Chavez called his re-election--a defeat for U.S. President George Bush. Chavez said he will continue to use Venezuela's oil to expand social welfare programs--and continue to challenge the U.S. in Latin America. It's no secret the two men don't like each other.

• Closing Bell: Market Wrap Up

  The bulls got U.S. Federal Reserve chief Ben Bernanke to repeat his Goldilocks scenario for the economy, but 10-year bond yields barely moved – they’re down about three basis points to 4.51%. The bears think Bernanke’s outlook is rose-tinted and unrealistic. Here’s how the markets ended Tuesday, in what has been an interesting week so far.

• Tokyo Closes Lower; Asian Markets Mostly Down

  Asian markets are mostly lower in the afternoon session.

• Gazprom Out To Dominate Liquefied Natural Gas Market

  

  Gazprom has declared it wants to be the world leader in liquefied natural gas. Vice Chairman Alexander Medvedev was on "Morning Call" today to talk about it. Gazprom is already the world’s largest gas company – controlling a quarter of the world’s reserves.

• U.S. Stocks Selloff On Poor ISM Report

  The market saw an afternoon selloff after a poor November Institute of Supply Management number. The ISM registered at 49.5 – down from 51.2 in October. It appears investors are getting a bit timid – despite a strong year – after a week of bad reports.

• Market Outlook: Stocks Facing Another Volatile Week

  Forget a Santa Claus rally. Investors might just want to hold onto their hats. Because if the past few days are any indication, stocks could be in for another choppy week.

• OPEC Divided on Bigger Supply Cuts

  OPEC ministers were divided  on the need for deeper oil-supply cuts, with some concerned about high fuel stockpiles and others reluctant because crude prices are holding firm above $60.

• Markets Slide on Manufacturing Slump

  Stocks skidded Friday after a key survey showed manufacturing unexpectedly contracted in November,stoking concerns about a weakening economy.

• OPEC Sends Conflicting Signals on Cut

  OPEC ministers sent conflicting signals  on whether the group needed to reduce oil production further to bring markets back into equilibrium.

• Oil Finishes Up On Talk Of OPEC Cut

  Oil prices rallied from early losses, extending a rally of nearly 7% this week as Saudi Arabia's oil minister said more production needed to be removed from the market because of high U.S. fuel stocks.

• OPEC Chief Says Output Cut Likely

  OPEC is likely to trim production again, the president of the oil cartel said this morning, adding that he expects a cut of at least 500,000 barrels a day.

• Oil Prices Fall Under $63 a Barrel

  Oil prices retreated Friday amid easing worries eased that OPEC would significantly reduce output to boost prices following a remark by Venezuela that cartel members had agreed to keep oil at $50 a barrel.

• Stocks Close Higher on Strong Economic Growth
• Oil Prices at 2-month High Above $62

  Oil climbed to a two-month high near $63 on Thursday, building on the previous session's gains after an unexpected drop in U.S. winter fuel stocks and signs of solid economic growth in the world's top consumer.

• Angola Will Apply for OPEC Membership

  Angola, sub-Saharan Africa's second biggest oil producer, said it will apply to join OPEC, a move that should add more clout to the global producer group and the southern African nation.

• Asia Stocks Gain On Upbeat U.S. Growth Data

  Asian shares rose on Thursday, led by exporters such as Honda and Samsung and resource stocks, after upbeat U.S. growth data eased worries about the health of the economy in Asia's biggest export market.

• Lower Oil Supplies Help Energy Prices

  U.S. crude oil futures rose sharply Wednesday morning after fresh inventory data showed that crude, distillate and gasoline supplies unexpectedly fell last week.

• U.S. Energy Weekly Oil Numbers: Analyst Says Gas Prices Going Higher

  This morning--the U.S. Energy Department released the weekly oil numbers: Crude inventories - down 0.3 million barrels. Gasoline inventories - down 0.6 million barrels. Distillates (which includes heating oil) - down 1.0 million barrels.

• Pengrowth Buys ConocoPhillips Properties For $1 Billion

  Pengrowth Energy Trust, a Canadian closed-end investment trust, on Wednesday said it bought oil and gas properties and undeveloped lands from ConocoPhillips for $1.04 billion.

• Oil Rises Near $61 a Barrel

  Oil rose near $61 on Tuesday, adding to sharp gains the previous session, on expectations that a cold spell in the U.S. Northeast this weekend would boost demand in the world's biggest heating oil market.