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  • UPDATE 5-Oil falls below $59 as OPEC, Russia keep pumping Wednesday, 17 Dec 2014 | 7:55 AM ET

    *OPEC, Russia unwilling to cut supply, spurring weakness. LONDON, Dec 17- Brent crude oil fell below $59 a barrel on Wednesday, near 5-1/ 2- year lows, as major oil producers signalled that they would maintain output despite a supply glut and faltering demand in Russia and Europe. "OPEC is trying to choke U.S. oil producers."

  • Don't expect quick rebound in oil: Expert  Wednesday, 17 Dec 2014 | 7:32 AM ET

    Kevin Book, Clearview Energy Partners, shares his outlook on oil next year.

  • UPDATE 4-Oil holds below $60 as OPEC, Russia keep pumping Wednesday, 17 Dec 2014 | 6:34 AM ET

    *OPEC, Russia unwilling to cut supply, spurring weakness. LONDON, Dec 17- Brent crude held below $60 a barrel on Wednesday, near 5-1/ 2- year lows, as major oil producers signalled that they would maintain output despite a supply glut and faltering demand in Russia and Europe. "OPEC is trying to choke U.S. oil producers."

  • Russian economy: When it all went wrong  Wednesday, 17 Dec 2014 | 6:14 AM ET

    As the Russian Central Bank continues to fight off the effect of international sanctions and an increasingly weak ruble, CNBC goes over the timeline of how it all went wrong.

  • LONDON, Dec 17- The rouble's opening bounce fizzled on Wednesday as the currency shrugged off the latest hard currency sales against a backdrop of general bearishness on Russia and mounting pressure across emerging markets. Central banks from Brazil to Indonesia have stepped in this week to curb losses in their currencies which have sold off versus the...

  • Any reasons to be bullish on Russia?  Wednesday, 17 Dec 2014 | 5:45 AM ET

    With the Russian economy under severe pressure, Jens Nordvig, global head of FX strategy and co-head of Global Markets Research Americas at Nomura Securities, says that unless there's serious change in its policies on Ukraine, it doesn't look good for Russia.

  • BRUSSELS, Dec 17- The European Union will widen its ban on investment in Crimea to target Russian Black Sea oil and gas exploration, EU officials said on Wednesday, tightening sanctions first imposed over Moscow's annexation of the region. At a summit on Thursday and Friday in Brussels, EU leaders meeting in the European Council will announce the punitive...

  • MOSCOW, Dec 17- The dramatic fall in Russia's rouble slowed on Wednesday, with the government selling foreign currency to prop it up after a 50 percent fall against the dollar this year. The situation poses a major challenge for President Vladimir Putin whose popularity, based partly on providing stability and prosperity, is at risk from the rouble's decline,...

  • UPDATE 3-Oil below $60 as OPEC, Russia keep pumping Wednesday, 17 Dec 2014 | 4:38 AM ET

    *OPEC, Russia unwilling to cut supply, spurring weakness. LONDON, Dec 17- Brent crude oil traded below $60 a barrel on Wednesday, near 5-1/ 2 year lows, as major oil producers signalled that they would maintain output despite a supply glut and faltering demand in Russia and Europe. "OPEC is trying to choke U.S. oil producers."

  • Russia in a 'whiff of panic'  Wednesday, 17 Dec 2014 | 4:05 AM ET

    Russia's economy collapsing sends a "whiff of panic" throughout its public, with people stocking up on imported goods. CNBC's Geoff Cutmore reports with a clip of the Russian Economic Development Minister, Alexei Ulyukayev speaking about future intentions.

  • Hard to be bullish with Russia  Wednesday, 17 Dec 2014 | 4:00 AM ET

    The sharp decline in the Russian ruble has led to the public's faith in the ruble evaporating, says Rob Carnell, chief international economist at ING, who thinks the public seem "bearish".

  • How can Russia's central bank stop the ruble's fall?  Wednesday, 17 Dec 2014 | 2:30 AM ET

    Luis Costa, head of CEEMEA FX and rates strategy at Citi, says the Central Bank of Russia has reacted too slow to the declining currency and needs to intervene in the FX market to halt the ruble's fall.

  • Russians flock to stores to pre-empt price rises Wednesday, 17 Dec 2014 | 2:11 AM ET

    The Swedish furniture giant IKEA already warned Russian consumers that its prices will rise Thursday, which resulted in weekend-like crowds at a Moscow store on a Wednesday afternoon. Apple, for one, has halted all online sales in Russia. We are just a few days away from a full-blown run on the banks, " Russia's leading business daily Vedomosti said in an editorial...

  • MOSCOW— Russia's embattled ruble is 3.5 percent lower at the opening of trading in Moscow.

  • Capital controls next step in ruble downfall?  Wednesday, 17 Dec 2014 | 2:00 AM ET

    Chris Watling, CEO of Longview Economics, says it is likely that Russia will impose capital controls in order to stem the decline of the ruble.

  • New Cold War won't happen: SocGen CEO  Wednesday, 17 Dec 2014 | 1:40 AM ET

    Frédéric Oudéa, CEO of Société Générale, says it is in the common interest of the European Union, Russia and Ukraine to resolve the conflict.

  • *OPEC unwilling to cut supply, spurring weakness. Non- OPEC member Russia, one of the world's top producers, has also indicated that it does not plan to cut output despite a glut in the world market. U.S. crude dropped $1.12 to $54.81 a barrel after touching the lowest since May 2009 at $53.60 on Tuesday.

  • What was really behind the ruble's plummet?  Wednesday, 17 Dec 2014 | 1:00 AM ET

    Simon Derrick, chief currency strategist at BNY Mellon, discusses the catalysts for the rapid decline of the Russian ruble.

  • Expect Fed to be 'slightly hawkish': Nomura  Wednesday, 17 Dec 2014 | 12:08 AM ET

    Craig Chan, Head of FX Strategy at Nomura, says markets expect the phrase "considerable time" to be revised in the Fed's policy statement, but warns that a rate hike won't be an imminent event.

  • *OPEC unwilling to cut supply, spurring weakness. Non- OPEC member Russia, one of the world's top producers, has also indicated that it does not plan to cut output despite a glut in the market. U.S. crude for January delivery dropped 97 cents to $54.96 a barrel after touching the lowest since May 2009 at $53.60 on Tuesday.