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  • *Libyan fighting cuts OPEC output to six-month low. Brent February crude was down $1.25 at $56.65 a barrel at 11:09 a.m. EST, after dropping as low as $55.81, its weakest since May 2009. U.S. crude was down $1.02 at $52.92, off its $52.51 intraday low.

  • *Libyan fighting cuts OPEC output to six-month low. LONDON, Dec 31- Oil dropped towards $56 a barrel on Wednesday and was heading for its biggest annual decline since 2008, pressured by weakening demand and a supply glut prompted by the U.S. shale boom and OPEC's refusal to cut output. Global benchmark Brent crude has fallen 49 percent in 2014 as demand growth...

  • *Libyan fighting cuts OPEC output to six-month low. LONDON, Dec 31- Oil dropped below $57 a barrel on Wednesday and was heading for its biggest annual decline since 2008, pressured by weakening demand and a supply glut prompted by the U.S. shale boom and OPEC's refusal to cut output. Global benchmark Brent crude has fallen 49 percent in 2014 as demand growth slowed,...

  • Brent for February delivery fell 25 cents to $57.63 as of 0528 GMT, after tumbling to $57.37 in the previous session, the lowest level since May 2009. U.S. crude for February delivery fell 28 cents to $53.33 after it settled down $1.12 on Monday, when it hit an intraday low of $52.90- also the lowest since May 2009. "There's no sign of any reduction of output by OPEC," said...

  • IMF mission to visit Ukraine from Jan 8 Monday, 29 Dec 2014 | 5:12 AM ET

    KIEV, Dec 29- An International Monetary Fund mission will visit Ukraine in early January for more discussions over implementation of an economic reform programme, the IMF said on Monday. The IMF, which had previously flagged a visit for sometime in January, said the mission would begin work in Kiev on Jan. 8 and could conclude before the end of the month.

  • UPDATE 2-Oil prices climb on Libya supply worries Monday, 29 Dec 2014 | 12:50 AM ET

    *Brent climbs towards $60; U.S. crude rises above $55. SINGAPORE, Dec 29- Oil prices rose on Monday, after dropping for the past two sessions, as escalating clashes in Libya stoked worries about supply from the OPEC member. "Libya, and all the other problems, warrants some kind of risk premium," said Jonathan Barratt, chief investment officer at Sydney's Ayers Alliance.

  • Ukraine's parliament approves 2015 budget Sunday, 28 Dec 2014 | 10:49 PM ET

    KIEV, Dec 29- Ukraine's parliament backed a budget for 2015 on Monday that it had been under pressure to approve to secure the next tranche of financial aid under a $17 billion International Monetary Fund loan package, the Interfax news agency reported. Before the budget vote in the early hours of the morning, deputies approved a series of austerity laws,...

  • *Brent climbs towards $60; U.S. crude rises above $55. SINGAPORE, Dec 29- Oil prices rose on Monday, after dropping for the past two sessions, as escalating clashes in Libya stoked worries about supply from the OPEC member. "Libya, and all the other problems, warrants some kind of risk premium," said Jonathan Barratt, chief investment officer at Sydney's Ayers Alliance.

  • SINGAPORE Dec 29- U.S. crude rose more than $1 in early Asian trade on Monday, reversing a fall in the previous session as escalating clashes in Libya threatened oil exports and supply disruptions from the OPEC member. Forces loyal to Libya's recognised government launched air strikes on the western city of Misrata on Sunday in apparent retaliation against a...

  • UPDATE 1-Libya fighting destroys two days oil supply Sunday, 28 Dec 2014 | 10:08 AM ET

    BENGHAZI, Libya, Dec 28- A fire caused by fighting at one of Libya's main export terminals has destroyed more than two days of the country's oil production, officials said on Sunday, as clashes escalated between factions battling for control of the OPEC member nation. A missile hit an oil storage tank last week at the port of Es Sider during fighting between forces...

  • DUBAI, Dec 25- Saudi Arabia plans to raise government spending 0.6 percent to a record high in its 2015 budget while covering a large deficit due to plunging oil prices with its huge fiscal reserves, the Ministry of Finance said on Thursday. Some analysts believe Riyadh is content to see oil prices fall as a way to squeeze out competing producers in non- OPEC nations.

  • *Outlook remains weak as OPEC says will not cut production. LONDON, Dec 23- Brent crude oil rose above $61 a barrel on Tuesday after data showed the U.S. economy grew at its quickest pace in 11 years in the third quarter, outweighing downward pressure from a global glut and evidence of weak demand in other parts of the world. Brent for February rose $1.38 a barrel to a...

  • *OPEC hopes economic recovery will spur fresh demand. *$100 seen as encouraging non- OPEC output. ABU DHABI, Dec 23- Arab OPEC producers expect global oil prices to rebound to between $70 and $80 a barrel by the end of next year as a global economic recovery revives demand, OPEC delegates said this week in the first indication of where the group expects oil markets to...

  • Oil prices edge up, trading thin ahead of Christmas Monday, 22 Dec 2014 | 9:32 PM ET

    *Brent could drop below $60 a barrel, WTI to $50- BoAML. Tuesday's quiet opening followed a volatile session on Monday, when Brent prices first jumped to almost $63 a barrel on the back of strong international market performances before sliding back to not much over $60 after Saudi Arabia's powerful oil minister said OPEC would not cut production at any price.

  • SEOUL, Dec 23- U.S. crude futures edged up on Tuesday on expectations that a recent slump in prices could prompt demand, but gains were capped as Saudi Arabia urged its fellow OPEC members not to cut oil output at any price. *Saudi Arabia convinced its fellow OPEC members that it is not in the group's interest to cut oil output however far prices may fall, the kingdom's...

  • *U.S. crude falls more than $2 intraday; Brent down over $1. NEW YORK, Dec 22- Oil prices resumed their downward march on Monday, doubling back on the biggest one-day gain in over two years, after Saudi Arabia's powerful oil minister said OPEC would not cut production at any price. After a weekend of comments from several Gulf OPEC members reiterating their intent not...

  • BRUSSELS, Dec 22- Short, snappy and focused on two priorities- reviving sagging investment in Europe and standing firm towards Russia, the first European Union summit under new leadership was a demonstrative break with the past. Donald Tusk, the former Polish prime minister who took over the chairmanship of the 28- nation European Council this month, put his...

  • South Korea's trade ministry said in a statement that the high U.S. tariffs on Korean steel pipes, over $100 million annually, put them at a price disadvantage compared with imports from India and other countries. The U.S. International Trade Commission ruled in August that "oil country tubular goods" imports from South Korea, India, Taiwan, Turkey, Ukraine and...

  • LONDON, Dec 22- Russia has complained that a U.S. move to scrap a 15- year-old deal sheltering Russian flat-rolled steel producers from high import duties is inconsistent with World Trade Organization rules. As a result, Russian steelmaker Severstal now faces anti-dumping duties of 73.59 percent, while other producers like Novolipetsk Steel and...

  • *Copper tracks oil lower after Saudi minister comments. LONDON, Dec 22- Copper dipped on Monday after oil prices retreated and as worries over growth in top consumer China persisted, though a trimming back of surplus forecasts for next year limited losses. Copper prices changed direction after oil resumed its slide after Saudi Arabia's oil minister said OPEC...