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  • *OPEC keeps output unchanged in oversupplied market. "I guess some people wanted to take their oil shorts off before the weekend and put them on again next week," said Tariq Zahir, an oil bear at Tyche Capital Advisors in Laurel Hollow, New York. "Otherwise how do you have a runup on a day like this, when OPEC promises to flood the market with more supply?"

  • *OPEC keeps output changed in oversupplied market. NEW YORK, June 5- Oil staged its first rally in three days on Friday, gaining 2 percent, despite warnings of more oversupply as a result of OPEC's decision to keep pumping crude without restraint. Otherwise how do you have a run-up on a day like this when OPEC promises to flood the market with more supply? "

  • June 5- Oil for prompt delivery in the United States was at its widest discount on Friday to the next month as oversupply worries mounted after OPEC decided to pump without change to its quota, traders said. U.S. crude's front-month contract settled 43 cents lower than the second-month, for the biggest discount between the two contracts since May 27.

  • *OPEC oil ministers keep production target at 30 mln bpd. NEW YORK, June 5- Oil seesawed in volatile trade on Friday, with Brent briefly hitting seven-week lows before recovering, as a surging dollar and an OPEC decision not to cut output in an oversupplied market sent crude prices on a roller-coaster ride. Oil prices rose after the widely-expected OPEC decision, as...

  • *OPEC oil ministers keep production target at 30 mln bpd. NEW YORK, June 5- Oil moved lower in volatile trade on Friday, with Brent briefly hitting seven-week lows before paring losses, as a surging dollar and an OPEC decision not to cut output in an oversupplied market sent crude prices on a roller-coaster ride. Crude futures rose right after the OPEC decision on a...

  • VIENNA, June 5- Oil group OPEC agreed to stick by its policy of unconstrained output for another six months on Friday, setting aside warnings of a second lurch lower in prices as some members such as Iran look to ramp up exports. Concluding a meeting with no apparent dissent, Saudi Arabian oil minister Ali al-Naimi said OPEC had rolled over its current output...

  • *OPEC ministers keep production target at 30 mln bpd. LONDON, June 5- Oil prices rose on Friday, breaking a two-day losing streak, after OPEC ministers maintained their existing oil production target for another six months at a level below current output. OPEC has been pumping over 31.2 million bpd in recent weeks, a Reuters survey has shown with Saudi Arabia...

  • VIENNA, June 5- Oil group OPEC agreed to stick by its policy of unconstrained output for another six months on Friday, setting aside warnings of a second lurch lower in prices as some members such as Iran look to ramp up exports. Concluding a meeting with no apparent dissent, Saudi Arabian Oil Minister Ali al-Naimi said the Organization of the Petroleum Exporting...

  • VIENNA, June 5- Iranian Oil Minister Bijan Zanganeh said on Friday that most members of OPEC agree $75 a barrel is a "fair" oil price, the first such comment from one of the group's most hawkish nations. "I think most of the OPEC members believe that a price around $75 is a fair price for both sides and is working well," Zanganeh told reporters as the Organization of the...

  • VIENNA, June 5- Iraqi Oil Minister Adel Abdel Mahdi said he expects prices and demand to rise, while all options on output would be discussed as ministers from the Organization of the Petroleum Exporting Countries gathered for their policy meeting on Friday. "Demand is higher than expected, this explains why prices rose in the previous period," Abdel Mahdi told...

  • VIENNA, June 5- When it comes to whether Saudi Arabia will invest billions of dollars to increase its ability to pump more oil, boosting the world's only large stand-by reserve, minister Ali al-Naimi has a quick answer: show me the return. Naimi, speaking informally to reporters in Vienna on Thursday, was asked whether the kingdom needs to lift its capacity now that...

  • SINGAPORE, June 5- Oil markets fell for a third day on Friday ahead of an OPEC meeting where the oil group is expected to stick by its policy of unconstrained output for another six months, keeping the market oversupplied. High production around the world means that global oil markets are oversupplied and ongoing high output by OPEC would mean that each month more...

  • VIENNA, June 5- Oil group OPEC is set on Friday to stick by its policy of unconstrained oil output for another six months, setting aside warnings of a second lurch lower in prices as some members such as Iran look to ramp up exports. Naimi told the newspaper that markets were witnessing an increase in demand for oil and a slight improvement in global growth and that...

  • SINGAPORE, June 5- Oil markets stabilized in cautious trading on Friday ahead of an OPEC decision that is likely to keep the market oversupplied, setting aside warnings of a second price fall as some members like Iraq and Iran look to ramp up exports. Saudi Arabia's oil minister Ali al-Naimi said he was 100 percent comfortable with the oil market, the Saudi-owned...

  • SINGAPORE, June 5- Oil markets stabilized in cautious trading on Friday ahead of an OPEC decision that is likely to keep the market oversupplied and sets aside warnings of a second lurch lower in prices as some members like Iraq and Iran look to ramp up exports. Traders said market participants were reluctant to take on new positions ahead of a final decision from...

  • SINGAPORE, June 5- Oil markets moved sideways in cautious trading early on Friday ahead of an OPEC decision likely to keep the market oversupplied and setting aside warnings of a second lurch lower in prices as some members like Iraq and Iran look to ramp up exports. Front-month Brent futures were trading at $62.08 per barrel at 0049 GMT on Friday, five cents above...

  • DIARY- Top Economic Events to June 17 Thursday, 4 Jun 2015 | 8:01 PM ET

    MINNEAPOLIS- Federal Reserve Bank of New York President William Dudley speaks before the Economic Club of Minnesota June Luncheon- 1630 GMT. Speakers:- Organisation for Economic Co-operation and Development Secretary-General Angel Gurria, French Finance Minister Michel Sapin, Colombia Finance Minister Mauricio Cardenas, Haiti Finance Minister Wilson...

  • VIENNA, June 5- Oil group OPEC is set on Friday to stick by its policy of unconstrained oil output for another six months, setting aside warnings of a second lurch lower in prices as some members like Iran look to ramp up exports. Nor is OPEC eager to tackle the tricky questions set to arise in the coming months as members such as Iran and Libya prepare to reopen the taps...

  • LONDON, June 4- The slump in crude prices has jolted the oil industry into deep cost cutting which, unlike the previous downturn, could last for a few years at least. A partial rebound in crude prices this year will give service companies such as Baker Hughes, Schlumberger and Petrofac little respite. "Higher prices have led to cost inflation over the past years and...

  • *Glum mood before OPEC, spiking European bond yields depress oil. *OPEC expected to keep oil output high, roll over target. NEW YORK, June 4- Crude prices tumbled about 2 percent for a second day on Thursday ahead of an OPEC decision likely to keep the market oversupplied and on worry rising European bond yields could tighten the availability of speculative money...