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  • *Saudi-led OPEC has kept output steady in fight for market share. SINGAPORE, Jan 23- Oil prices jumped on Friday as news of the death of Saudi Arabia's King Abdullah added to uncertainty in energy markets already facing some of the biggest shifts in decades. Brent crude futures rose to $49.70 a barrel by 0808 GMT, up $1.18 a barrel.

  • *Saudi-led OPEC has kept output steady in fight for market share. While the new king is not seen as likely to change Abdullah's policies of keeping output high to protect the OPEC cartel's market share, some analysts said the succession has focused attention on the future of the oil minister Ali Al-Naimi. "King Abdullah was the architect of the current strategy to...

  • *Saudi-led OPEC has kept output steady in fight for market share. SINGAPORE, Jan 23- Sauid Arabia's new king is expected to stick to an OPEC policy of keeping oil output steady to protect the cartel's market share from rival producers, even as energy markets face some of the biggest shifts in decades. Saudi Arabia's King Abdullah died early on Friday and his brother...

  • *U.S. shale boom has challenged OPEC's dominance. *Saudi-led OPEC has kept output steady in fight for market share. SINGAPORE, Jan 23- Oil prices jumped in Asian trading on Friday as news of the death of Saudi Arabia's King Abdullah added to uncertainty in energy markets already facing some of the biggest shifts in decades.

  • *U.S. shale boom has challenged OPEC's dominance. *Saudi-led OPEC has kept output steady in fight for market share. SINGAPORE, Jan 23- Oil prices jumped in early Asian trading on Friday as news of the death of Saudi Arabia's King Abdullah added to uncertainty in energy markets already facing some of the biggest shifts in decades.

  • NEW YORK— Oil prices rose on the news of the death of Saudi Arabia's King Abdullah Thursday, but the king's death is not expected to change the course of oil prices over the next several months. Saudi Arabia occupies a unique position in world oil markets because it is one of the world's biggest producers, it has the strongest voice within OPEC as its largest...

  • Commodities tomorrow: ECB squeezes oil  Thursday, 22 Jan 2015 | 4:00 PM ET

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. The ECB's QE announcement put downward pressure on oil today, as did a huge weekly build. Nat gas settled down, as well, as inventories were down less than expected. Gold was higher on the day.

  • Algeria to boost oil production in face of falling prices Thursday, 22 Jan 2015 | 12:27 PM ET

    ALGIERS, Algeria— Algeria's minister of energy said Thursday the country could boost oil production to compensate for the dramatic drop in oil prices. Algeria produces some 1.2 million barrels of oil a day, according to its OPEC quota, but the 50 percent drop in prices over the last few months has hurt the country. While Algeria has some $200 billion in foreign...

  • CARACAS, Jan 22- Venezuelan bond prices edged down on Thursday while opponents savaged economic changes by President Nicolas Maduro that included a seeming devaluation of the currency and an imminent rise in domestic gasoline prices. Under pressure over the OPEC member's recession, product shortages and plunging oil revenues, Maduro has opted to keep a...

  • Gunvor: no rebound to $100 oil, contango to deepen Thursday, 22 Jan 2015 | 10:18 AM ET

    AMSTERDAM, Jan 22- Oil trader Gunvor's head of analysis said on Thursday crude was unlikely to return to $100 a barrel in the foreseeable future, but prices were expected to be volatile as traders sought to move oil into storage during the current glut. David Fyfe, formerly research chief at the International Energy Agency, said OPEC would not want to see a return to...

  • CARACAS, Jan 22- Venezuelan bonds edged down on Thursday while opponents lampooned economic changes by President Nicolas Maduro that included a seeming devaluation of the currency and an imminent rise in domestic gasoline prices. Under pressure over the OPEC member's recession, product shortages and plunging oil revenues, Maduro has opted to keep a complex...

  • OPEC's Badri says oil won't fall to $20 - Bloomberg Thursday, 22 Jan 2015 | 9:45 AM ET

    LONDON, Jan 22- Oil prices will not fall to $20 or $25 a barrel, OPEC Secretary-General Abdullah al-Badri said in an interview with Bloomberg. "The price will not go to $20 or $25, I think the price will stay at where we are now," Badri said, Bloomberg reported. Producers outside the Organization of Petroleum Exporting Countries should be first to reduce their output to...

  • The socialist-run OPEC member's economy shrank 2.8 percent in 2014 while inflation topped 64 percent, the socialist leader announced in a speech to parliament, in what is almost certainly the worst performance in Latin America. With oil prices down by more than half since mid-2014, Venezuela's economic mess has hit Maduro's popularity hard and threatened...

  • CARACAS, Jan 21- OPEC member Venezuela's recession-hit economy shrunk 2.8 percent in 2014 while inflation topped 64 percent, President Nicolas Maduro said on Wednesday, in almost certainly the worst performance in Latin America. In his annual address to parliament, the 52- year-old successor to Hugo Chavez blamed political foes and an "economic war" for...

  • TOKYO, Jan 22- U.S. crude futures fell more than 1 percent on Thursday, giving up almost half the gains from the previous session, after OPEC defended its decision not to intervene to stop a collapse in oil prices since the middle of last year. *OPEC defended on Wednesday its decision not to intervene to halt the oil price plunge, shrugging off warnings by top energy...

  • CARACAS, Jan 21- President Nicolas Maduro was set to make announcements on Venezuela's economy in his annual speech to parliament on Wednesday, after several delays to promised measures to shore up the recession-hit OPEC country. Economists guess Venezuela may devalue its bolivar currency, since Maduro has spoken about making unspecified changes to the...

  • Commodities tomorrow: Oil up on the day  Wednesday, 21 Jan 2015 | 3:40 PM ET

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil was up on the day, as traders continued to seek the bottom. Nat gas was up on colder weather forecasts, and gold was down today.

  • US crude oil settles nearly 3% higher Wednesday, 21 Jan 2015 | 2:37 PM ET
    A gas flare is seen at an oil well site outside Williston, N.D.

    US crude closed oil nearly 3 percent, rebounding from falls in the previous session as more energy firms cut investments and the dollar weakened.

  • OPEC SecGen: We have to cut production together  Wednesday, 21 Jan 2015 | 11:15 AM ET

    Abdallah Salem El-Badri, OPEC's secretary general, insists that the group "knew what it was doing" when it held production, and said that all producers have to "cut together."

  • *Eni urges OPEC to step in to stop price slide. *OPEC sticks to guns, defends decision not to intervene. DAVOS, Switzerland, Jan 21- OPEC defended on Wednesday its decision not to intervene to halt the oil price collapse, shrugging off warnings by top energy firms that the cartel's policy could lead to a huge supply shortage as investments dry up.