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  • Maduro rules out dollarizing Venezuela's economy Wednesday, 27 May 2015 | 9:53 AM ET

    CARACAS, May 27- President Nicolas Maduro has ruled out dollarizing Venezuela's economy as a way to resolve the recession-hit OPEC nation's chaotic currency situation. Speculation Venezuela could adopt the U.S. currency emerged after news this month that some local divisions of foreign car companies might charge in dollars due to their difficulties in...

  • *Russia to meet OPEC next week, likely to stick to strategy. MOSCOW/ LONDON, May 27- As Russia prepares to meet OPEC next week, a briefing paper from a Moscow think tank has shed light on how the government was warned against cutting oil output late last year even though global prices were plummeting. "If Russia cuts output, OPEC will take our market share in Europe," a team...

  • *OPEC meets next week; Iran sees no output change. Friday's weekly data showed U.S. drillers cut the number of rigs by just one last week and Goldman Sachs said prices were at a level that would spur activity, adding to a growing list of headwinds crude faces that include rising OPEC supply. On Sunday, Iran said the Organization of the Petroleum Exporting Countries...

  • *Dollar rally weighing on oil could run further- Morgan Stanley. *OPEC meets next week; Iran sees no output change. The dollar could rally further, Morgan Stanley said, adding to a growing list of headwinds crude faces that include rising OPEC supply.

  • May 26- A once-popular pair trade pitting the U.S. dollar against oil prices has re-emerged in recent weeks, injecting a new wildcard into the market just as the Organization of the Petroleum Exporting Countries prepares to meet. About two weeks ago, Morgan Stanley analysts said an "uncanny" relationship has developed between the dollar index and benchmark...

  • SINGAPORE, May 26- U.S. crude was steady early on Tuesday as firm demand supported prices and ample supply dragged. Robust demand in Asia as well as from the driving season in the United States is being met by near record output, especially from the Organization Of Petroleum Exporting Countries, although U.S. production seems to have been peaked, at least...

  • TEHRAN, Iran— Iran will raise gasoline prices by some 40 percent beginning Tuesday, the country's official news agency reported, the latest cut to the Islamic Republic's fuel subsidies that cost it some $32 billion a year. Iran, an OPEC member, consumes 70 million liters of gasoline daily, with some 10 percent refined and imported from abroad.

  • DUBAI, May 24- OPEC is unlikely to change its production ceiling when the group meets in June, Iran's Oil Minister Bijan Zanganeh said on Sunday, according to the semi-official Mehr news agency. "Lowering OPEC's production ceiling requires consensus between all members... under current conditions it seems unlikely that the OPEC production ceiling will change,"...

  • DUBAI, May 24- OPEC is unlikely to change its production ceiling when the group meets in June, Iran's Oil Minister, Bijan Zanganeh, said on Sunday, according to the semi-official Mehr news agency. "Lowering OPEC's production ceiling requires consensus between all members... under current conditions it seems unlikely that the OPEC production ceiling will change,"...

  • IRAN OIL MINISTER SAYS OPEC UNLIKELY TO CHANGE PRODUCTION CEILING- MEHR NEWS AGENCY.

  • Saudi Arabia rewrites its oil game with refining might Friday, 22 May 2015 | 10:25 AM ET

    *Refining and trading could shift Kingdom's OPEC calculus. LONDON, May 22- Saudi Arabia's rapid transition into one of the world's largest oil refiners adds an extra dimension to the oil exporter's role as the driver of OPEC policy. When it attends OPEC's next meeting in two weeks, it does so with major new state-of-the-art oil refineries that can profit from...

  • Commodities tomorrow: Production down, crude up   Wednesday, 20 May 2015 | 4:00 PM ET
    Commodities tomorrow: Production down, crude up

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.

  • US oil production slows, but don't blame frackers Wednesday, 20 May 2015 | 3:55 PM ET
    crude oil production oil derrick

    Why didn't oil prices surge on the falling production data?

  • COLUMN-How do you lose 100 million barrels of oil? Kemp Wednesday, 20 May 2015 | 11:52 AM ET

    LONDON, May 20- Oil-market watchers are struggling to reconcile the large estimated oversupply in the market with the much smaller buildup of reported inventories and narrowing contango in futures prices. Stockpiles should have increased by between 200 million and 350 million barrels, according to the International Energy Agency, OPEC and the U.S. Energy...

  • *Middle East crude flows to China down over 10 pct since January. BEIJING/ SINGAPORE, May 20- Saudi Arabia and its main Middle East OPEC partners are turning down Chinese requests for extra oil as they hold back fuel for their own refineries just as demand from the world's biggest crude importer hits new records. Reuters pricing and trade flow data show a 40 percent...

  • Commodities tomorrow: Traders play crude ranges   Tuesday, 19 May 2015 | 4:00 PM ET
    Commodities tomorrow: Traders play crude ranges

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Crude was under pressure today as the dollar continued to rally.

  • UPDATE 4-Oil prices slip on dollar rally, ample supply Tuesday, 19 May 2015 | 4:42 AM ET

    LONDON, May 19- Brent crude oil fell below $66 a barrel on Tuesday as the dollar strengthened and on evidence of ample supplies of Middle Eastern oil despite wars in northern Iraq, Syria and Yemen. "The oil market is generally oversupplied with high Saudi exports and OPEC is unlikely to cut production," said Tamas Varga, oil analyst at London brokerage PVM Oil...

  • *Front month U.S. crude was up 8 cents at $59.51 a barrel at 0018 GMT, after finishing down 26 cents in the previous session. *Global crude oil prices are not expected to fall in the second half of 2015, Kuwait's OPEC governor said on Monday, and any surplus supply was due to shale producers rather than OPEC. *Crude output by OPEC member Algeria will rise by at least 32,000...

  • Commodities tomorrow: Dollar strong, crude down

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Crude was down on a stronger dollar.

  • *Kuwait acknowledges oversupply, but blames non- OPEC sources. NEW YORK, May 18- Oil slipped on Monday as a rallying dollar and concerns of growing oversupply weighed on the market after Saudi Arabia reported its highest crude exports in nearly a decade. Crude oil futures erased early gains of more than $1 a barrel on worries of turmoil in the Middle East after a...