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  • US drillers scrambling to thwart OPEC threat Monday, 23 Mar 2015 | 11:58 AM ET

    NEW YORK— OPEC and lower global oil prices delivered a one-two punch to the drillers in North Dakota and Texas who brought the U.S. one of the biggest booms in the history of the global oil industry. "Everybody gets a little more imaginative, because they need to," says Hans-Christian Freitag, vice president of technology for the drilling services company Baker...

  • *Wants non- OPEC cooperation on any output cuts. Saudi Arabia has stood firm on output, saying it would only consider cutting it if other producers outside OPEC also joined. Analysts at Barclays forecast on Monday that if OPEC production held near current levels of near 30 million bpd, the market surplus would expand from 900,000 bpd to 1.3 million bpd.

  • *wants non- OPEC cooperation on any output cuts. Saudi Arabia has stood firm on output, saying it would only consider cutting it if other producers outside OPEC also joined. Analysts at Barclays forecast on Monday that if OPEC production held near current levels of near 30 million bpd, the market surplus would expand from 900,000 bpd to 1.3 million bpd.

  • *Saudi wants non- OPEC cooperation on any output cuts. LONDON, March 23- Oil prices fell further on Monday, with Brent dropping below $55 a barrel, after top exporter Saudi Arabia said it would only consider cutting output if other producers outside OPEC did so too. "We repeat that, as for prices, the market determines it," Saudi oil minister Ali al-Naimi said on Sunday,...

  • *Saudi wants non- OPEC cooperation on any output cuts. LONDON, March 23- Oil prices fell further on Monday, with Brent dropping below $55 a barrel, after top exporter Saudi Arabia said it would only consider cutting output if other producers outside OPEC did so too. "We repeat that, as for prices, the market determines it," Saudi oil minister Ali al-Naimi said on Sunday,...

  • *Saudi wants non- OPEC cooperation on any output cuts. Weak demand from top energy consumer China comes at a time when the OPEC kingpin Saudi Arabia has reiterated its decision to keep production unchanged and ride out a market slump, which has roughly halved prices since last June. "We repeat that, as for prices, the market determines it," Saudi oil minister Ali...

  • *Saudi wants non- OPEC cooperation on any output cuts. Yet Riyadh has so far opted to keep its output stable to protect market share against non- OPEC producers such as the United States- where production has soared as a result of the shale exploration boom- and Russia. "We tried, we held meetings and we did not succeed because countries were insisting that OPEC carry...

  • Yet Riyadh has so far opted to keep output stable in a move to defend market share against non- OPEC producers like Russia and the United States, where production has soared as a result of the shale exploration boom. "We tried, we held meetings and we did not succeed because countries were insisting that OPEC carry the burden and we refuse that OPEC bears the...

  • WASHINGTON, March 22- President Barack Obama's administration is proposing that a new Chinese-led development bank over which Washington has voiced concerns work collaboratively with Western development groups like the World Bank, The Wall Street Journal reported on Sunday. The United States, worried about China's growing diplomatic clout, has been...

  • SEOUL, March 23- U.S. crude futures fell on Monday as Saudi Arabia's oil minister said that OPEC will not take sole responsibility for propping up the oil price, and the U.S. dollar started trade in Asia on the defensive on interest-rate uncertainty. "We tried, we held meetings and we did not succeed because countries were insisting that OPEC carry the burden and we...

  • WASHINGTON, March 22- President Barack Obama's administration is proposing that a new Chinese-led development bank over which Washington has voiced concerns work collaboratively with Western development groups like the World Bank, the Wall Street Journal reported on Sunday. The United States, worried about China's growing diplomatic clout, has been...

  • RIYADH, March 22- OPEC will not take sole responsibility for propping up the oil price, Saudi Arabia's oil minister said on Sunday, signaling the world's top petroleum exporter is determined to ride out a market slump that has roughly halved prices since last June. Since the oil price collapse, top OPEC exporter Saudi Arabia has said it wants non- OPEC producers to...

  • SAUDI OIL MINISTER ALI AL-NAIMI SAYS IT IS A DIFFICULT SITUATION, WE REFUSE THAT OPEC TAKES RESPONSIBLITY ALONE.

  • SAUDI OIL MINISTER DENIES "CONSPIRACY THEORY" BEHIND NOVEMBER OPEC DECISION.

  • RIYADH, March 22- Saudi Arabia's OPEC governor Mohammed al-Madi said on Sunday it would be hard for oil to reach $100- $120 per barrel- the peaks it hit last year before falling sharply due to a glut of crude and weakening demand. Last November, Organization of the Petroleum Exporting Countries kingpin Saudi Arabia persuaded members to keep production unchanged...

  • BEIJING, March 22- China received critical support from the International Monetary Forum and Asian Development Bank on Sunday for its goal of establishing a new Chinese-led multilateral lender, adding to a growing wave of endorsements that has worried the United States. Leaders of the IMF and ADB, speaking at a conference in Beijing, said they were in talks with...

  • BEIJING— International Monetary Fund chief Christine Lagarde said Sunday that China's economic slowdown is legitimate and that Beijing can contribute to global prosperity. Speaking at the opening of the China Development Forum in Beijing, Lagarde praised Beijing for its work to build a legal system and address pollution. She said she welcomed Beijing's...

  • BRUSSELS, March 21- Ukraine is confident Russia will have to sharply lower the price it charges Kiev for gas as increased imports from the European Union have greatly reduced Ukraine's reliance on supplies from Gazprom, Ukraine's energy minister said on Saturday. Volodymyr Demchyshyn was speaking after gas supply talks in Brussels on Friday with Russia and...

  • China says new bank to complement existing institutions Saturday, 21 Mar 2015 | 8:59 AM ET

    BEIJING— China's finance minister said a proposed Chinese-led Asian regional bank that has raised concerns in Washington will complement rather than compete with established international lenders such as the World Bank, state media reported Saturday. Like other regional investment vehicles, such as the Asian Development Bank and the European Bank for...

  • Germany's SPD won't back down in U.S. trade talks Saturday, 21 Mar 2015 | 6:46 AM ET

    BERLIN, March 21- Germany's economy minister has promised to block any clauses in a trade deal between the European Union and the United States that go against the ideals of his centre-left Social Democrats, including investor protection clauses wanted by the Americans. "What the SPD doesn't want won't happen," Sigmar Gabriel, who is also Germany's deputy...