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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.

  • *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...

  • *Venezuela urges OPEC to cut, says will reduce own output. NEW YORK, Nov 21- Oil jumped for a second straight day on Friday, with benchmark Brent crude returning above the $80 level after slipping below it last week, as top petroleum buyer China cut interest rates and speculation mounted that OPEC will cut output. "This market has been sold out so much that any kind of...

  • Cashin: Don't expect OPEC to cooperate     Friday, 21 Nov 2014 | 11:02 AM ET

    Art Cashin of UBS, shares his forecast for next week's OPEC meeting.

  • *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...

  • *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.

  • *Novak, Rosneft's Sechin to fly to Vienna before OPEC meeting. Before OPEC meets next week, Russia has already spoken to members Venezuela and Saudi Arabia about the need to support the oil market, and Moscow expects to send a high-ranking delegation to Vienna before the meeting to press the message on prices. A price of at least $100 a barrel is needed to balance the...

  • *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.

  • *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.

  • SINGAPORE, Nov 21- Brent briefly rose to $80 a barrel on Friday on speculation OPEC could agree to output cuts at its meeting next week, with strong U.S. economic data also bolstering oil prices. Libya, Ecuador and Venezuela earlier called for OPEC to cut production. Iran urged fellow OPEC members to shore up oil prices while saying a reduction in output was unlikely.

  • SINGAPORE, Nov 21- Brent briefly touched $80 a barrel on Friday on speculation OPEC could agree to output cuts at its meeting next week, with strong U.S. economic data also bolstering oil prices. Libya, Ecuador and Venezuela earlier called for OPEC to cut production. Iran urged fellow OPEC members to shore up oil prices while saying a reduction in output was...

  • NYMEX-U.S. crude climbs towards $77 on strong U.S. data Thursday, 20 Nov 2014 | 8:31 PM ET

    SINGAPORE Nov 21- U.S. crude climbed towards $77 a barrel in Asian trade on Friday following strong U.S. economic data overnight and mounting speculation oil ministers could agree production cuts at next week's OPEC meeting. *Venezuela would be willing to cut oil output if OPEC agrees to production cuts at the oil cartel's meeting on Nov. 27, its Foreign Minister...

  • CARACAS, Nov 20- Venezuela would be willing to cut its own oil production if OPEC decides to limit output when it meets on Nov. 27, Foreign Minister Rafael Ramirez said on Thursday. Ramirez, who serves as Venezuela's representative to the group, just returned from a trip to OPEC and non- OPEC countries Mexico, Iran, Algeria, Qatar, and Russia to shore up support.

  • Commodities tomorrow: Oil stabilizes     Thursday, 20 Nov 2014 | 4:00 PM ET

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil is in a wait-and-see pattern, as traders look ahead to next week's OPEC meeting. Traders expect it to stay around $75.

  • WTI settles $1 higher on strong U.S. data Thursday, 20 Nov 2014 | 2:40 PM ET

    U.S. crude settled up $1 at $75.88 per barrell on Thursday as strong U.S. economic data bolstered crude markets.

  • *Speculation of potential OPEC output cut on Nov. 27. NEW YORK, Nov 20- Oil rose on Thursday after three straight days of losses as strong U.S. economic data bolstered crude markets but focus remained on whether OPEC will cut enough output to end a five-month long selloff when it meets next week. On the OPEC front, chances have risen in recent days that the Organization...

  • The rouble was also supported by a firming oil price, with Brent crude gaining to $78.8 per barrel as markets weighed the possibility of OPEC cutting production at a key meeting on Nov. 27. "If OPEC takes a decision to reduce volumes this will have a notable impact on the rouble, but for the time being it will probably trade sideways," Grand Capital analyst Sergei...

  • UPDATE 5-Oil steadies above $78 as market awaits OPEC Thursday, 20 Nov 2014 | 8:42 AM ET

    *OPEC will cut production to 30 mln bpd target- Libyan official. *China flash PMI factory output contracts in Nov- HSBC survey. LONDON, Nov 20- Brent crude oil steadied above $78 a barrel on Thursday as reports that oil producers would agree to cut output next week offset weak economic data from China and Europe.

  • Russia has little to offer in oil price war Thursday, 20 Nov 2014 | 6:53 AM ET

    *Russia needs oil price of $100 to balance budget. MOSCOW, Nov 20- Russia can do little to shore up slumping global prices even if OPEC wants it to. Before next week's meeting of OPEC, Russia has already spoken to group member Venezuela about the need to "coordinate actions in defence" of oil prices and it plans to send a high-ranking delegation to press the message.