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  • 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.

  • Oil prices have fallen almost 60 percent since June, reaching a 2009 low close to $45 a barrel earlier this month, partly because of OPEC's November decision not to cut output. Badri said, if OPEC had reduced its supply, non-member countries would have increased production, forcing OPEC to implement further cuts and lose more market share to rival producers.

  • *Strongest public criticism of OPEC by Oman so far. Oman is a small non- OPEC oil exporter which lacks the huge financial reserves that its Gulf neighbors can use to ride out low energy prices. Iran and Venezuela have already complained bitterly about OPEC policy but Oman, a diplomatic ally of key OPEC states such as Saudi Arabia, had previously held back.

  • CARACAS, Jan 21- President Nicolas Maduro was set to make announcements on Venezuela's economy in his annual speech to parliament later on Wednesday, after several delays to promised measures to shore up the recession-hit OPEC country. Economists guess Venezuela may devalue its bolivar currency. From early December, Maduro has said various times he was...

  • *Strongest public criticism of OPEC by Oman so far. Oman is a small non- OPEC oil exporter which lacks the huge financial reserves that its Gulf neighbours can use to ride out low energy prices. Iran and Venezuela have already complained bitterly about OPEC policy but Oman, a diplomatic ally of key OPEC states such as Saudi Arabia, had previously held back.

  • DAVOS, Switzerland, Jan 21- Russia may see a natural decline in oil output by around 1 million barrels per day at most but has no plans to cut production in coordination with OPEC, Deputy Prime Minister Arkady Dvorkovich said on Wednesday. Russia is the world's biggest oil producer and output hit a post-Soviet high at an average 10.58 million bpd last year, but...

  • DAVOS, Switzerland, Jan 21- Russian oil output may see a natural decline of a maximum of around 1 million barrels per day but the country has no plans to cut production with OPEC, Deputy Prime Minister Arkady Dvorkovich said on Wednesday. Dvorkovich ruled out the cut in tandem with the oil producing group despite oil prices sinking to five-year lows.

  • DAVOS- RUSSIAN DEPUTY PM DVORKOVICH SAYS RUSSIA PLANS NO OIL PRODUCTION CUTS IN TANDEM WITH OPEC.

  • KUWAIT, Jan 21- Oman oil minister Mohammad bin Hamad al-Rumhy sharply criticized OPEC's production policy on Wednesday, saying it was creating volatility in the market without benefiting oil producers and that his country was suffering. Oman is a significant oil producer but it lacks the huge oil and financial reserves of its Gulf neighbors, and it is not an...

  • Venezuela says oil exports fell in 2014 to 2.33 mln Tuesday, 20 Jan 2015 | 6:17 PM ET

    CARACAS, Jan 20- Venezuela's oil exports fell to 2.33 million barrels-per-day in 2014, from 2.43 million the previous year, Oil Minister Asdrubal Chavez said on Tuesday. OPEC member Venezuela, which is reeling from the plunge in global crude prices since mid-2014, is counting on joint ventures in the heavy-crude Orinoco region to boost output in future years.

  • Commodities tomorrow: Nat gas hit on warmer temps  Tuesday, 20 Jan 2015 | 4:00 PM ET

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. WTI was down more than $2 on the day. The IMF cutting its growth forecast and weak China data were among the reasons why.

  • *China data, QE prospects lift European shares. *China slows less than expected, IMF cuts global outlook. Crude oil prices fell after the International Monetary Fund cut its 2015 global economic forecast on lower fuel demand and key producer Iran hinted that prices could drop to $25 a barrel without supportive OPEC action.