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  • LONDON, Oct 16- How far do oil prices need to fall to curb the investment in shale production and stem the destruction of demand? The two most popular methods for identifying a potential floor are the fiscal breakeven prices for OPEC members and the marginal costs for North American shale producers, but both approaches have severe limitations.

  • *Exxon Mobil says refinery strategic regardless of EU policy. ANTWERP, Belgium, Oct 16- Exxon Mobil is pouring $1 billion into a refinery in the European Union, setting aside concerns ranging from poor margins to EU green energy rules due to be agreed next week that will cut demand for oil. Heavy industry and some nations, such as coal-dependent Poland, have argued...

  • BRUSSELS, Oct 16- European Union authorities could intervene to prevent gas shortages this winter in the event the Ukraine crisis causes disruption to flows from Russia, EU stress tests showed on Thursday. European Energy Commissioner Guenther Oettinger unveiled the results of tests conducted across the EU's 28 member states and 10 neighbouring countries...

  • *EBRD, Ukraine prepare "unprecedented" cooperation plan. KIEV, Oct 16- The International Monetary Fund's mission to Ukraine will determine at the end of October how much additional financial aid Kiev needs, Central Bank Governor Valeria Gontareva said on Thursday. She also said that the European Bank for Reconstruction and Development is preparing an "...

  • *OPEC shows no sign of willingness to cut output. LONDON, Oct 16- Oil fell more than $1 a barrel on Thursday to a four-year low below $83 a barrel as growing concerns over the global economy stretched a four-month rout. "And despite us seeing a floor around $80, even this floor might come into danger if we don't have any signal from OPEC any time soon."

  • KIEV, Oct 16- The International Monetary Fund's mission to Ukraine will determine at the end of October how much additional financial aid Kiev needs, central bank Governor Valeria Gontareva said on Thursday. "The IMF mission which will arrive in late October will determine the demand in real terms," Gontareva said at a news conference. "If the geopolitical risks...

  • UKRAINE CENBANK GOVERNOR GONTAREVA SAYS IMF MISSION TO KIEV AT MONTH-END TO ESTIMATE COUNTRY'S REAL NEEDS FOR FINANCIAL AID.

  • CARACAS, Oct 15- Oil prices will rebound after hitting a "floor," President Nicolas Maduro said on Wednesday, insisting the current rout in crude markets will not harm Venezuela's economy or social spending plans. "The price of oil will hit its floor, and it will rise again," Maduro said after being asked at a news conference how the OPEC nation plans to deal with falling...

  • NEW YORK, Oct 15- Saudi Arabia effectively started a global oil price war this month aimed at quickly denting U.S. oil output. At stake is not just the fate of a U.S. drilling frenzy that has transformed the North American energy picture and powered the U.S. economy, but the shape of the global market as OPEC leader Saudi Arabia hopes to take share from U.S. producers.

  • "The current market situation doesn't suit anyone, neither consumers nor producers," Eulogio Del Pino told an oil conference on Venezuela's Margarita Island. Venezuela is calling for an emergency meeting of the Organization of the Petroleum Exporting Countries- prior to its next scheduled Nov. 27 gathering- to halt the slide in oil prices to their lowest level...

  • *OPEC shows no sign of cutting output to defend oil prices. LONDON, Oct 15- Brent crude bounced off a four-year low on Wednesday to above $85 a barrel, a level that was still down 25 percent since June, as a drop in the value of the dollar attracted some cautious buying in the oil market. U.S. crude gained 40 cents a barrel to $82.24, rebounding by more than $2 after hitting a...

  • *OPEC shows no sign of cutting output to defend oil prices. LONDON, Oct 15- Brent crude hit a new four-year low on Wednesday before recovering to just under $85 a barrel, as faltering global growth curbed demand for fuel at a time of heavy oversupply. Brent for November delivery touched a fresh post-2010 low of $83.37, down $1.67, before recovering to around $84.80 by...

  • COLUMN-Oil market proves mightier than OPEC: Kemp Wednesday, 15 Oct 2014 | 8:21 AM ET

    "If the shale revolution can be sustained in the United States, and successfully exported to other countries, some combination of OPEC production cuts or lower oil prices to encourage demand and forestall more investment, will be inevitable by 2015-16," I wrote last year. "The massive rise in prices means Saudi Arabia will face intense competition from shale," I...

  • MADRID, Oct 15- Spanish companies which got tax breaks when they bought indirect stakes in firms overseas will have to repay the money, the European Commission said on Wednesday, adding the benefits breached European Union rules on state aid. Spanish bank Santander, energy company Iberdrola and telecoms group Telefonica would be among those affected by the...

  • UPDATE 5-Oil falls to $84, near 4-year low, on oversupply Wednesday, 15 Oct 2014 | 7:55 AM ET

    *OPEC shows no sign of cutting output to defend oil prices. LONDON, Oct 15- Brent crude fell to a fresh 47- month low on Wednesday before recovering to around $84 a barrel, as faltering global growth curbed demand for fuel at a time of heavy oversupply. "There's broad acceptance by the market that Saudi Arabia is willing to let prices go lower.

  • *OPEC shows no sign of cutting output to defend oil prices. LONDON, Oct 15- Brent crude fell to a fresh 47- month low on Wednesday, dipping below $84 a barrel as faltering global growth curbed demand for fuel at a time of heavy oversupply. "There's broad acceptance by the market that Saudi Arabia is willing to let prices go lower.

  • *OPEC shows no sign of cutting output to defend oil prices. SINGAPORE, Oct 15- Brent crude edged higher on Wednesday, holding above $85 a barrel after its biggest daily fall in three years in the previous session, a drop of nearly $4 that pushed prices to the lowest since late 2010 in an oversupplied market. Comments from core OPEC members, including Saudi Arabia,...

  • NEW YORK, Oct 15- Saudi Arabia effectively started a global oil price war this month aimed at quickly denting U.S. oil output. At stake is not just the fate of a U.S. drilling frenzy that has transformed the North American energy picture and powered the U.S. economy, but the shape of the global market as OPEC leader Saudi Arabia hopes to claw share from U.S. producers.

  • Brent recovers above $85 after biggest fall in three years Wednesday, 15 Oct 2014 | 12:55 AM ET

    *OPEC shows no sign of cutting output to defend oil prices. SINGAPORE, Oct 15- Brent edged higher above $85 a barrel on Wednesday, recovering from its biggest daily fall in three years, a drop that pushed prices to the lowest since late 2010 as traders scrambled to keep up with the downward momentum. Comments from core OPEC members, including Saudi Arabia, Kuwait and...

  • SEOUL, Oct 15- U.S. crude futures steadied above $82 a barrel on Wednesay in early Asian trade, recovering some ground after diving $4 a barrel in the previous session as investors fretted about ample U.S. shale and OPEC output despite signs of easing demand. *Iran, in a change of tack, is saying it can live with lower oil prices, moving closer to the views of Saudi Arabia...