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  • DOHA, Dec 16- Russia said on Tuesday it would not cut oil output to help prop up prices and refrained from calling on OPEC to do so despite its economy showing signs of severe stress and its currency collapsing to record lows. Oil prices dropped to near $59 per barrel on Tuesday for the first time since 2009 after OPEC member the United Arab Emirates reinforced on...

  • *Russia hikes interest rates as rouble collapses. *Russia won't cut oil output, no sign of any OPEC action. International benchmark Brent crude has almost halved since reaching a 2014 high of $115 a barrel in June on ample supply and slowing demand, and a switch in strategy by exporter group OPEC to defending market share rather than prices.

  • TOKYO, Dec 16- The Russian rouble rebounded from record lows on Tuesday after the Russian central bank hiked interest rates to halt a collapse in its currency, while the backdrop of falling oil prices and concerns over global growth supported the safe-haven yen. U.S. crude futures fell 3.3 percent on Monday after OPEC once again said it will not cut oil output...

  • NYMEX-U.S. crude holds near 5-year low below $56/bbl Monday, 15 Dec 2014 | 7:02 PM ET

    TOKYO, Dec 16- U.S. crude futures were trading on Tuesday below $56 a barrel and near a 5- year low hit in the prior session, dropping for a fifth session after the UAE oil minister said there was no need for an emergency OPEC meeting to support prices. *NYMEX crude for January delivery was down 22 cents at $55.69 a barrel by 2334 GMT, after settling down $1.90, or 3.3...

  • WASHINGTON, Dec 15- Argentina has taken all the required steps so far to revamp its economic data but must still meet one more deadline as it seeks to bring the quality of its statistics in line with global standards, the International Monetary Fund's board said on Monday. The IMF, which requires accurate data to analyze the world's economies, censured Argentina...

  • WASHINGTON, Dec 15- Argentina has taken all the requisite steps so far to revamp its economic data, but it must still meet one more deadline as it seeks to bring the quality of its data in line with global standards, the International Monetary Fund's board said on Monday. The IMF, which requires accurate statistics to analyze the world's economies, censured...

  • *Oil prices fall to five-year lows on OPEC output decision. An early rebound in oil prices faded after OPEC exporters said they would not cut production despite worries about a supply glut. That's weighed on stocks and put a bid back in Treasuries, "said Ian Lyngen, senior government bond strategist at CRT Capital Group in Stamford, Connecticut.

  • *Oil prices fall to fresh five-year lows on OPEC output decision. An earlier rebound in oil prices faded after OPEC exporters said they wouldn't cut production despite worries about a supply glut. That's weighed on stocks and put a bid back in Treasuries, "said Ian Lyngen, senior government bond strategist at CRT Capital Group in Stamford, Connecticut.

  • *No need for OPEC meet to help prices- UAE oil minister. NEW YORK, Dec 15- Crude prices came under renewed selling pressure Monday after OPEC said it would not cut oil output despite fears of a glut, and a UAE official opposed holding an emergency meeting of the producer group to fix prices. "You have all these OPEC officials reiterating they are not going to cut...

  • BRUSSELS, Dec 15- The European Union agreed on Monday to implement a German-British plan to revive Bosnia's bid to join the bloc, which rests on a new government's commitment to reform. Britain and Germany proposed last month to offer EU funds to Bosnia in return for institutional reform, an initiative that was followed up by the EU's foreign policy chief...

  • BRUSSELS, Dec 15- European Union antitrust regulators on Monday approved the proposed merger of France's Lafarge and Swiss peer Holcim to create the world's biggest cement maker after they promised to sell a swathe of overlapping assets. Holcim and Lafarge said the package, with the exception of a minor change in France, was about the same as that announced in...

  • *OPEC repeats intention to keep output steady despite glut. NEW YORK, Dec 15- Crude prices came under renewed pressure on Monday, and Brent hit five-year lows of nearly $60 a barrel after producer group OPEC said it would stick to its decision not to cut output despite fears of a world awash in oil. But oil later gave up its gains, with Brent turning negative and U.S....

  • *Wall Street dips as stocks track crude prices lower. Stocks on Wall Street opened higher but soon retreated as crude oil prices gave up early gains after the Organization of the Petroleum Exporting Countries restated its determination not to cut output despite a global energy glut. "There's a lot of things going on, but most of them are driven off the drop in oil...

  • *OPEC repeats intention to keep output steady despite glut. LONDON, Dec 15- Brent crude oil hit a fresh five-year low close to $60 a barrel on Monday after producer group OPEC restated its determination not to cut output despite a global fuel glut, but the North Sea benchmark later rallied to above $62. Things will be left as is, "OPEC Secretary-General Abdullah...

  • *OPEC repeats intention to keep output steady despite glut. LONDON, Dec 15- Brent crude hit a fresh five-year low close to $60 a barrel on Monday after oil producer group OPEC restated its determination not to cut output despite a global fuel glut, but the North Sea benchmark later rallied to trade around $63. Things will be left as is, "OPEC Secretary-General...

  • DUBAI, Dec 14- Kuwait's oil minister said on Sunday that OPEC's decision last month to keep output unchanged was intended to retain market share, even if it meant that it "would negatively affect prices, state news agency KUNA said. "OPEC, which includes Kuwait in its membership, took the decision not to cut production in order to maintain market share, even if not...

  • DUBAI, Dec 14- Oil producers group OPEC can ride out a slump in oil prices and keep output unchanged, its head said on Sunday, arguing market weakness did not reflect supply and demand fundamentals and could have been driven by speculators. Speaking at a conference in Dubai, Abdullah al-Badri defended November's decision by the Organization of the Petroleum...

  • DUBAI, Dec 14- The head of OPEC said on Sunday the group had no target price for oil, signalling no change to a policy to maintain production levels which has contributed to sharp falls in the price of crude, unnerving global markets. The comments were Badri's first since OPEC, or the Organization of the Petroleum Exporting Countries, left its output levels...

  • OPEC's Badri: Oil is overshooting fundamentals Sunday, 14 Dec 2014 | 5:14 AM ET
    OPEC Secretary General Abdullah al-Badri listens to a question at the Oil & Money conference in central London, October 29, 2014.

    The head of OPEC said on Sunday the group had no target price for oil, and urged Gulf states to continue investing in exploration and production.

  • DUBAI, Dec 14- The head of OPEC said on Sunday the group had no target price for oil, and urged Gulf states to continue investing in exploration and production, saying the United States would continue to rely on Middle East crude for many years. OPEC sought a price level that was suitable and satisfactory both for consumers and producers, he said, without specifying a...