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  • Anglo American sees surge in iron ore sales to India Tuesday, 2 Jun 2015 | 7:06 AM ET

    VIENNA, June 2- Global miner Anglo American said its iron ore sales to India have more than tripled over the past year as Asia's third-largest economy embarks on a once-in-a-generation urbanization drive. "India is around 15 percent of our sales portfolio, or about 6 million tonnes," David Trotter, Anglo American's global head of iron ore sales, told Reuters at the...

  • *OPEC expected to keep output target unchanged. LONDON, June 2- Oil prices rose on Tuesday as the dollar weakened and on expectations that OPEC producers would maintain their group production target at its current level and resist pressure for an increase. Brent crude oil for July was up 70 cents at $65.58 a barrel by 0900 GMT.

  • *European shares down as investors seek clarity over Greece. LONDON, June 2- European shares dipped on Tuesday while German bond yields rose, with investors in the dark over whether a high-level meeting on Greece's debt crisis might herald a significant breakthrough. The leaders of Germany, France and Greece's international creditors agreed late on Monday to...

  • *OPEC not expected to announce output cut this week. SINGAPORE, June 2- Crude oil prices rose on Tuesday due to firm demand after dipping in earlier trade on expectations that OPEC would not cut output at its meeting this week. "OPEC meets on Friday and is in no mood to cut output, Energy Aspects said on Tuesday.

  • DUBAI, June 2- Iran will try to persuade OPEC countries to reverse production increases they implemented to fill a gap left by sanctions on Iran, the country's OPEC delegate Mehdi Asali was quoted as saying, ahead of a potential nuclear deal that could see sanctions lifted. "Production decreases for those countries which raised their production during Iran's...

  • *OPEC not expected to announce output cut this week. SINGAPORE, June 2- Crude oil prices edged up on Tuesday due to firm demand after dipping in earlier trade on expectations that OPEC would not cut output at its meeting this week. "OPEC meets on Friday and is in no mood to cut output, Energy Aspects said on Tuesday.

  • *OPEC not expected to announce output cut this week. SINGAPORE, June 2- Crude oil prices stabilized on Tuesday due to firm demand after dipping in early trade on expectations that OPEC would not cut output at its meeting this week. The Organization of the Petroleum Exporting Countries meets this Friday in Vienna to discuss its production strategy, with U.S. bank...

  • Indonesia to seek oil supply deals at OPEC meeting Monday, 1 Jun 2015 | 11:45 PM ET

    JAKARTA, June 2- Indonesia will meet with Middle East oil producers on the sidelines of an OPEC meeting in Vienna this week to negotiate possible long-term crude supply agreements for its refineries, a senior government official said. The Southeast Asian country, which is considering asking to rejoin the Organization of the Petroleum Exporting Countries...

  • DIARY- Top Economic Events to June 15 Monday, 1 Jun 2015 | 8:01 PM ET

    WASHINGTON- Federal Reserve Board Governor Lael Brainard speaks on the U.S. economic outlook and monetary policy at the Center for Strategic and International Studies- 1400 GMT. PARIS- Organisation for Economic Cooperation and Development Forum 2015. PARIS- European Central Bank board member Daniele Nouy speaks at the panel discussion "Unlocking...

  • VIENNA, June 1- Saudi Arabia's oil minister Ali al-Naimi said on Monday he expects oil demand to pick up in the second half of 2015 while supply decreases, in a sign that the kingdom's strategy of defending market share was working. The comment indicates Saudi Arabia will likely propose not to change output policy at producer group OPEC's meeting on Friday,...

  • In Washington, Congress will begin considering legislation to permit the export of crude oil from the United States, reversing a four decade ban put in place after the first oil crisis in 1973/ 74.. Rather than reduce production to boost prices, Saudi Arabia and the other OPEC members are prepared to continue pumping to defend market share and maximise revenue.

  • *OPEC oil output hits 2.5- year high in May- Reuters survey. LONDON, June 1- Crude oil prices dropped on Monday as the dollar rose and on expectations that OPEC production would remain high, stoking worries of oversupply despite declining U.S. rig operations. "OPEC continues to produce well above target, and also well above demand for its oil," said Carsten Fritsch,...

  • *OPEC oil production hits 2.5- year high in May- Reuters survey. LONDON, June 1- Crude oil prices dropped on Monday as the dollar rose and on expectations that OPEC production would remain high, stoking worries of oversupply despite declining U.S. rig operations. "OPEC continues to produce well above target, and also well above demand for its oil," said Carsten Fritsch,...

  • UPDATE 4-Oil prices fall as OPEC output stays high Monday, 1 Jun 2015 | 3:42 AM ET

    *OPEC oil production hits 2.5- year high in May- Reuters survey. LONDON, June 1- Crude oil prices dropped on Monday on expectations that OPEC production would remain high, stoking worries of oversupply despite declining U.S. rig operations. "OPEC continues to produce well above target, and also well above demand for its oil," said Carsten Fritsch, senior oil analyst at...

  • The U.S. oil fracker's dilemma: crouch or pounce? Monday, 1 Jun 2015 | 1:00 AM ET

    HOUSTON, June 1- U.S. shale oil producers, having weathered the worst price plunge in their industry's brief history, now face a dilemma: whether to stay in a defensive crouch after slashing their rig fleets, or start drilling more wells to capture a partial recovery in prices. The June 5 meeting of U.S. rivals in the Organization of the Petroleum Exporting Countries...

  • VIENNA, May 31- OPEC is likely to keep its output target unchanged when it meets on Friday because the global oil market appears to be in good shape and prices are expected to firm up from current levels, a senior Gulf OPEC delegate told Reuters. Two more OPEC delegates said they expect no change in policy on June 5 when oil ministers from the Organization of the...

  • VIENNA, May 29- OPEC will meet next week amid rising global demand and a reduction in supply, which are both helping to support prices, two OPEC officials said after pre-meeting talks. OPEC refused to cut output at the November meeting, seeking to slow higher-cost production in the United States and elsewhere that had been eroding its market share.

  • VIENNA, May 29- OPEC is gearing up for a meeting next week amid rising global demand and a reduction in supply, which are both helping to support prices, two OPEC officials said after pre-meeting talks. A calmer mood among delegates compared with the last OPEC meeting in November 2014 means it is likely to keep its production policies unchanged despite a...

  • *Brent crude seen averaging $61.60 2015- Reuters survey. The Organization of the Petroleum Exporting Countries is likely to decide at its meeting in Vienna next week to keep its joint production target unchanged at 30 million barrels per day but maintain output above that level, analysts said. "That should keep a lid on prices," Carsten Fritsch, senior oil and...

  • UPDATE 4-Oil gains 1 percent on U.S. inventory drop Friday, 29 May 2015 | 4:37 AM ET

    LONDON, May 29- Crude oil prices rose around 1 percent on Friday after U.S. inventories fell for a fourth straight week, although prices were set for a weekly drop on a stronger dollar. July Brent was up 60 cents at $63.18 a barrel by 0820 GMT. Data from the U.S. Energy Information Administration on Thursday showed crude oil inventories fell by 2.8 million barrels last...