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  • HOUSTON/ WILLISTON, N.D., Jan 29- ConocoPhillips and Occidental Petroleum Corp on Thursday slashed exploration spending plans for this year, as the third- and fourth-largest U.S. oil companies attempt to cope with a steep slide in crude prices. The cuts follow similar steps by rival Hess Corp earlier this week while Royal Dutch Shell, Europe's largest oil company,...

  • Declining oil prices to hurt Colombia's economy Thursday, 29 Jan 2015 | 12:27 PM ET

    BOGOTA, Colombia— Investors are dumping stocks in Colombia's largest private oil company as the government prepares for mass layoffs sparked by the plunge in crude prices. The company, a major tax revenue generator, is also ending its sponsorship of Colombia's national soccer team. Colombia's Labor Ministry said Thursday it expects the oil industry to shed up...

  • NEW YORK, Jan 29- U.S. crude oil fell below $44 a barrel for the first time since April 2009 on Thursday while benchmark Brent sharply pared early gains after data showing additions to already record-high U.S. oil inventories. But crude futures in New York were near a six-year low by midmorning after a report from oil services firm Genscape, which a market source...

  • MOSCOW, Jan 29- Russia's Economy Ministry will base its main macroeconomic development scenario for 2015 on an oil price of $50 per barrel, Minister Alexei Ulyukayev said on Thursday.

  • Nat gas inventories down less than expected  Thursday, 29 Jan 2015 | 10:32 AM ET

    CNBC's Jackie DeAngelis says traders are looking for a prolonged period in order to get natural gas above the $3 level. For now, though, it looks like that may not happen soon.

  • ConocoPhillips reports 4Q loss Thursday, 29 Jan 2015 | 10:31 AM ET
    A customer fills portable containers with fuel at a ConocoPhillips gas station in San Francisco.

    ConocoPhillips on Thursday reported a fourth-quarter loss of $39 million, after reporting a profit in the same period a year earlier.

  • LONDON, Jan 29- Brent oil futures rose above $49 a barrel on Thursday as speculator buying on hopes for a price rebound offset data showing record-high U.S. crude stocks. At 1438 GMT, U.S. crude was trading at $44.64 a barrel, up 19 cents off a six-year low hit on Wednesday. Brent was up 53 cents at $49 a barrel.

  • ConocoPhillips posts 4Q loss as oil prices fall Thursday, 29 Jan 2015 | 8:13 AM ET

    HOUSTON— Hurt by falling oil prices, ConocoPhillips reported a loss during its fourth quarter and said it would cut spending on drilling and exploration projects in parts of the U.S. The Houston oil and gas company reported Thursday a loss of $39 million, or 3 cents per share during the quarter, compared with a net income of $2.5 billion, or $2 per share, in the same...

  • LONDON, Jan 29- U.S. commercial crude oil stocks last week hit their highest level since 1931- when the opening of giant oil fields in the United States coincided with the Great Depression to create an enormous glut and sent prices tumbling to just 13 cents per barrel. In October 1929, U.S. commercial crude stocks peaked at a staggering 545 million barrels, following...

  • Refiner Valero Energy's profit falls 5 pct Thursday, 29 Jan 2015 | 8:05 AM ET

    Jan 29- U.S. refiner Valero Energy Corp reported a 5 percent fall in quarterly income, hurt by a narrower spread between Brent and WTI crude and a drop in operating profit at its ethanol business. San Antonio- based Valero said net income from continuing operations attributable to stockholders fell to $1.22 billion, or $2.22 per share, for the quarter ended Dec. 31...

  • LONDON, Jan 29- Brent oil futures held above $48 a barrel on Thursday as speculator buying on hopes for a price rebound offset data showing record-high U.S. crude stocks. U.S. crude was trading at $44.26 a barrel by 1141 GMT, down 19 cents but off a six-year low hit on Wednesday. "It's a tug of war between the non-supportive fundamentals and investor flows- investors are...

  • NEW YORK, Jan 29- Americans are more likely than ever to favor easing a ban on exporting crude oil, so long as it does not lead to higher gasoline prices that have recently sunk to near $2 a gallon, according to a new Reuters-IPSOS poll. U.S. retail gasoline prices have halved to near $2 a gallon, probably easing immediate anxiety over pump prices; a growing number of...

  • Nigerian elections: Who could win  Thursday, 29 Jan 2015 | 5:00 AM ET

    Osita Benjamin Chidoka, minister of aviation in Nigeria, talks to CNBC about the upcoming presidential elections and the impact of oil prices on the economy.

  • LONDON, Jan 29- Brent crude oil futures held above $48 a barrel on Thursday as investor inflows offset data showing that U.S. crude stocks had hit a record high. By 0928 GMT on Thursday, U.S. crude was trading at about $44.50 a barrel, up 5 cents and off a six-year low hit on Wednesday. "It's a tug of war between the non-supportive fundamentals and investor flows- investors...

  • These execs are very bullish on oil  Thursday, 29 Jan 2015 | 3:45 AM ET

    Paddy Rodgers, CEO of Euronav, and Halvor Ellefsen, chief operating officer at Galbraiths, discuss why they are bullish on the oil market.

  • SINGAPORE, Jan 29- Oil remained weak in Asia on Thursday after data showing record U.S. stockpiles sent prices tumbling to the lowest level in nearly six years in the previous session and analysts said a global glut would continue to keep the market under pressure. Brent was trading at $48.65 a barrel at 0255 GMT while U.S. crude was at $44.54, versus the low of $44.08...

  • US crude turns positive after hitting 6-year low Thursday, 29 Jan 2015 | 1:43 PM ET
    A floor hand for Raven Drilling, pauses while drilling for oil in the Bakken shale formation outside Watford City, North Dakota.

    West Texas Intermediate fell below $44 after data showed additions to already record-high U.S. oil inventories.

  • SEOUL, Jan 29- U.S. crude futures were trading near 6- year lows just below $44.50 a barrel in early Asian trade on Thursday, remaining under pressure after data showing U.S. crude stocks surged to their highest on record. *U.S. crude's front-month contract shed 1 cent at $44.44 a barrel as of 0000 GMT. *Benchmark Brent crude closed down $1.13, or 2.3 percent, at $48.47,...

  • Brace for $40 oil in coming weeks: Expert  Wednesday, 28 Jan 2015 | 6:44 PM ET

    Andy Lipow, President of Lipow Oil Associate, expects West Texas Intermediate crude to test the $40 a barrel level as oil inventories continue to rise in the U.S.

  • Commodities tomorrow: Oil under $45  Wednesday, 28 Jan 2015 | 4:00 PM ET

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. The fact that crude settled under $45, traders say, means that it will likely fall even further.