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  • *China's first rate cut in 2 years helped spark rally. *Expectations grow for OPEC production cut at Nov. 27 meet. NEW YORK, Nov 21- Oil prices rose on Friday for their first weekly gain in two months with benchmark Brent crude returning to above $80 a barrel after a rally triggered by China's interest rate cut and speculation of an OPEC output cut.

  • Energy: What traders are watching     Friday, 21 Nov 2014 | 2:26 PM ET

    CNBC's Jackie DeAngelis is tracking the action in the energy complex ahead of next week's OPEC meeting, and the looming deadline for the Iran nuclear deal.

  • *OPEC watch continues as bets vary on a production cut. NEW YORK, Nov 21- Brent crude oil rose for a second straight day on Friday while U.S. crude turned lower as traders took profit on a rally triggered by China's interest rate cut and speculation that OPEC will cut output. The front-month contract for benchmark Brent crude was up 33 cents at $79.66 a barrel by...

  • Buy oil on dips: Trader     Friday, 21 Nov 2014 | 1:17 PM ET

    Dissecting the oil trade, Jeff Grossman, BRG Brokerage president, is keeping his eye on weather reports.

  • US delays decision on ethanol in gas Friday, 21 Nov 2014 | 12:09 PM ET
    Gas pumps with a sign indicating the gas is containing up to 10 % ethanol at a gas station in Pembroke Pines, Florida.

    The White House decided it will postpone a decision on how much ethanol should be allowed in fuel.

  • China's 'big surprise' rate move     Friday, 21 Nov 2014 | 12:01 PM ET

    CNBC's Michelle Caruso-Cabrera reports on China's interest rate cut and the ECB's dovish comments. And the FMHR traders have the play on oil.

  • Oil traders increase bets on OPEC action Friday, 21 Nov 2014 | 11:52 AM ET
    OPEC headquarters in Vienna, Austria.

    Oil gushed higher on China's surprise rate cut but also as traders increased bets that OPEC will cut production when it meets on Thanksgiving Day.

  • Russia mulls oil output cut: Energy minister Friday, 21 Nov 2014 | 11:03 AM ET

    Russia may cut oil production to shore up flagging prices, but no decision has been made yet, its energy minister said.

  • *Market beginning to expect OPEC cut, analysts say. LONDON, Nov 21- Brent crude oil rose above $80 a barrel on Friday after China cut interest rates and on speculation that OPEC could agree next week to reduce oil production. The rate cut added to a positive mood among oil traders, many of whom expected an agreement by the Organization of the Petroleum Exporting...

  • *Market beginning to expect OPEC cut, analysts say. LONDON, Nov 21- Brent crude oil rose more than $2 to above $81 a barrel on Friday after China cut interest rates and on speculation that OPEC could agree next week to reduce oil production. The rate cut added to a positive mood among oil traders, many of whom expected an agreement by the Organization of the Petroleum...

  • Wilbur Ross, WL Ross & Company chairman & CEO, weighs in on the outlook for U.S. stocks.

  • Wilbur Ross, WL Ross & Company chairman & CEO, discusses a frightening moment at the Bank of Cyprus after the installation of Josef Ackermann as chairman in an effort to overhaul the bank's board.

  • Wilbur Ross, WL Ross & Company chairman & CEO, shares his thoughts on EBC policy and Europe's economy. Also Ross discusses the sale of his stake in the Bank of Ireland.

  • China rate cut positive: Wilbur Ross     Friday, 21 Nov 2014 | 7:35 AM ET

    It's the first step toward quantitative easing, says Wilbur Ross, WL Ross & Company chairman & CEO, explaining why China's move to cut interest rates is a "good and useful" move. It augurs well for oil too, adds Ross.

  • *Libya and Ecuador also call for lower OPEC output. *Market beginning to expect OPEC cut, analysts say. LONDON, Nov 21- Brent crude oil rose to near $81 a barrel on Friday after China cut interest rates and on speculation that OPEC could agree next week to reduce oil production.

  • *Libya and Ecuador also call for lower OPEC output. *Market beginning to expect OPEC cut, analysts say. LONDON, Nov 21- Brent crude oil rose above $80 a barrel on Friday after China cut interest rates and on speculation OPEC could agree next week to reduce oil production.

  • Malaysia axes fuel subsidies as oil prices drop Friday, 21 Nov 2014 | 5:25 AM ET

    KUALA LUMPUR, Malaysia— Malaysia's government said Friday it will completely withdraw fuel subsidies from next month following the plunge in global oil prices. Domestic Trade Minister Hasan Malek said fuel prices will now be set at the end of every month based on a monthly average price under a "managed float" system from Dec. 1. "Subsidy is a major price distortion...

  • *Libya and Ecuador also call for lower OPEC output. LONDON, Nov 21- Brent crude oil rose towards $80 a barrel on Friday on speculation OPEC could agree output cuts at a meeting next week, with strong U.S. economic data also bolstering prices. Libya and Ecuador have also called for OPEC to cut output.

  • LONDON, Nov 20- Nigeria will have to adjust to oil prices heading lower for some time to come, Finance Minister Ngozi Okonjo-Iweala said on Thursday in an interview in which she also cut the outlook for economic growth next year. Asked if she thought the 30 percent drop in crude prices since June might prove temporary, Okonjo-Iweala said Nigeria needed to adjust to...

  • MOSCOW, Nov 21- The rouble strengthened on Friday, building on gains made in the previous session thanks to a recovery in oil prices and in anticipation of end-of-month tax payments falling due. Mineral extraction tax falls due on Nov. 25 and profit tax on Nov. 28. The rouble was also supported by a firming oil price, with Brent crude rising towards $80 a barrel on...