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  • MADRID, Dec 1- A Spanish High Court judge has asked investment bank Lazard to provide information on a 6 million euro payment to ex-IMF boss Rodrigo Rato when he was head of lender Bankia in 2011, a court order showed on Monday. Rato, who worked for Lazard between stints as head of the International Monetary Fund and Bankia, has been accused of improper management as...

  • NEW YORK, Dec 1- U.S. oil producers have been racing full-speed ahead to drill new shale wells in recent years, even in the face of lower oil prices. The Organization of Petroleum Exporting Countries last week agreed to maintain its production quota of 30 million-barrels-per-day, despite a 30 percent drop in oil prices since June, triggering an additional 10...

  • UPDATE 7-Oil rises after hitting five-year low Monday, 1 Dec 2014 | 9:59 AM ET

    *Oil loses more than 10 pct since Thursday's OPEC meeting. LONDON, Dec 1- Brent crude oil rose on Monday to above $71 a barrel, recovering from a five-year low it hit earlier as investors looked for a price floor after last week's OPEC decision not to cut production. Brent hit a low of $67.53 a barrel, the lowest since October 2009, before rising 85 cents to $71.00 a barrel...

  • UPDATE 6-Oil hits five-year low Monday, 1 Dec 2014 | 9:01 AM ET

    *Oil loses more than 10 pct since Thursday's OPEC meeting. *OPEC maintains stable output to counter U.S. shale oil boom. LONDON, Dec 1- Brent crude oil fell on Monday to a five-year low below $68 before recovering most of the losses as investors looked for a price floor after last week's OPEC decision not to cut production.

  • *Iran badly hurt by tumbling oil prices. *Iran government increases bread price by 30 pct. The currency has been hit by what OPEC member Iran sees as twin setbacks-- a fall in the price of oil, the country's economic mainstay, and the prospect of more months of sanctions curbing its ability to do business with the rest of the world.

  • KHOBAR, Saudi Arabia, Dec 1- Saudi Arabia said on Monday that its oil policy was based on economic principles, as speculation continued to swirl after last week's OPEC meeting of political motives aimed at other producers. Riyadh, along with its Gulf OPEC allies, resisted any OPEC output cut at the group's meeting, to maintain the exporting group market share in a...

  • UPDATE 5-Oil hits five-year low, floor unsure Monday, 1 Dec 2014 | 6:37 AM ET

    *Oil loses more than 10 pct since Thursday's OPEC meeting. *OPEC maintains stable output to counter U.S. shale oil boom. LONDON, Dec 1- Brent crude oil fell on Monday to a five-year low below $68 on Monday before recovering some of the losses as investors looked for a price floor after last week's OPEC decision not to cut production.

  • Oil loses more than 10 pct since Thursday's OPEC meeting. *OPEC maintains stable output to counter U.S. shale oil boom. LONDON, Dec 1- Brent crude oil fell more than $2 a barrel to a five-year low below $68 on Monday as investors looked for a price floor after last week's OPEC decision not to cut production.

  • *U.S. light oil exports to Asia only started 4 months ago. SINGAPORE, Dec 1- An aggressive strategy by Mideast Gulf producers to exploit the lowest oil prices in five years to defend market share is showing signs of bearing fruit as U.S. crude exports to Asia grind to halt. Last week Ali al-Naimi, the oil minister of OPEC kingpin Saudi Arabia, warned his fellow OPEC...

  • *U.S. light oil exports to Asia only started 4 months ago. SINGAPORE, Dec 1- U.S. crude exports to Asia are grinding to a halt just four months after they began, in a sign of how an aggressive strategy by Gulf producers to defend their market share is starting to bear fruit. The move shows how the Organization of the Petroleum Exporting Countries, with its influential...

  • NEW YORK, Dec 1- U.S. oil producers have been racing full-speed ahead to drill new shale wells in recent years, even in the face of lower oil prices. The Organization of Petroleum Exporting Countries last week agreed to maintain its production quota of 30 million-barrels-per-day, despite a 30 percent drop in oil prices since June, triggering an additional 10...

  • *OPEC maintains stable output to counter U.S. shale oil boom. SINGAPORE, Dec 1- Oil fell more than $2 a barrel to a five-year low in Asian trade on Monday, extending a steep sell-off after OPEC decided not to cut production last week, keeping markets well supplied. U.S. crude tumbled to near $64, dragging Brent down below $70, after Saudi Arabia's oil minister told fellow...

  • *OPEC maintains stable output to counter U.S. shale oil boom. SINGAPORE, Dec 1- U.S. crude fell more than $2 to a five-year low in Asian trade on Monday, while Brent futures touched a fresh four-year low, extending a steep sell-off after OPEC decided not to cut production last week, keeping markets well supplied. U.S. crude tumbled to near $64, dragging Brent down below...

  • U.S. crude hits five-year low on market rout Sunday, 30 Nov 2014 | 7:24 PM ET

    *OPEC maintains stable output to counter U.S. shale oil boom. SINGAPORE, Dec 1- U.S. crude fell more than $2 to a five-year low in Asian trade on Monday, while Brent futures touched a fresh four-year low, extending a steep sell-off after OPEC decided not to cut production last week, keeping markets well supplied. U.S. crude tumbled to near $64, dragging Brent down below...

  • BERLIN/ PARIS, Nov 30- Weeks after its dramatic coup in landing a probe on a speeding comet, Europe is hoping a last-minute deal to provide funding for the workhorse Ariane rocket will prevent its space ambitions falling back to earth this week. "It would be very serious if there is no decision on Dec 2 because Europe would have a competitive delay that it would never...

  • EU imposes sanctions on Ukraine rebel vote organisers Saturday, 29 Nov 2014 | 4:29 AM ET

    BRUSSELS, Nov 29- The European Union has imposed sanctions on the organisers of rebel elections in eastern Ukraine this month, the bloc said on Saturday, hitting the separatists and their organisations with asset freezes and travel bans. Rebels in eastern Ukraine held their elections on Nov. 2, arguing that the vote was the next step after local referendums in May...

  • NEW YORK, Nov 28- U.S. crude tumbled 10 percent in its biggest one-day drop in more than five years on Friday, and benchmark Brent broke below $70 a barrel, as OPEC's decision not to cut output sent oil traders and analysts scurrying to find a new trading floor. I think people are either going to drive it down further or just let the market collapse, "said Tariq Zahir,...

  • The slide came the day after oil cartel OPEC decided not to cut output in a meeting in Vienna. "We do not know if OPEC has ulterior motives to let oil prices drift lower and pinch the global sector, or if reaching a consensus on cuts was just too challenging," wrote Wells Fargo Securities in a Friday client note. "We'll wait to see the trend next week when there's full...

  • NEW YORK, Nov 28- Crude oil tumbled on Friday, knocking down both energy-related shares and currencies after OPEC's decision a day earlier not to cut output reinforced prospects of a worldwide oil supply glut. A rout in U.S. and European energy shares weighed on equity markets but other sectors edged higher, lifting Wall Street's Dow industrials and the Nasdaq,...

  • NEW YORK, Nov 28- Activity in the options on the Energy Select Sector SPDR Exchange-Traded Fund exploded on Friday as traders who had bet on a drop in the ETF scrambled to book hefty profits a day after OPEC decided not to cut oil output. The energy ETF, which has shed about a fifth of its value over the last three months, was down 6 percent at $79.82 on Friday, reacting to...