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  • *Saudi-led OPEC has kept output steady in fight for market share. SINGAPORE, Jan 23- Oil prices jumped on Friday as news of the death of Saudi Arabia's King Abdullah added to uncertainty in energy markets already facing some of the biggest shifts in decades. Brent crude futures rose to $49.70 a barrel by 0808 GMT, up $1.18 a barrel.

  • BRUSSELS, Jan 23- EU finance ministers will discuss on Tuesday offering additional money to help save Ukraine from bankruptcy, potentially increasing its original plan to as much as 2.5 billion euros, diplomats told Reuters. Ukraine, fighting a costly war against pro-Russian separatists, is relying on a lifeline from the International Monetary Fund...

  • BRUSSELS, Jan 23- The European Union will discuss on Tuesday increasing the bloc's emergency aid to Ukraine to as much as 2.5 billion euros, more than the 1.8 billion euros already proposed by the European Commission, diplomats said. EU finance ministers will consider raising the amount at their meeting in Brussels. The medium-term loans would be for this year...

  • *Saudi-led OPEC has kept output steady in fight for market share. While the new king is not seen as likely to change Abdullah's policies of keeping output high to protect the OPEC cartel's market share, some analysts said the succession has focused attention on the future of the oil minister Ali Al-Naimi. "King Abdullah was the architect of the current strategy to...

  • *Saudi-led OPEC has kept output steady in fight for market share. SINGAPORE, Jan 23- Sauid Arabia's new king is expected to stick to an OPEC policy of keeping oil output steady to protect the cartel's market share from rival producers, even as energy markets face some of the biggest shifts in decades. Saudi Arabia's King Abdullah died early on Friday and his brother...

  • *U.S. shale boom has challenged OPEC's dominance. *Saudi-led OPEC has kept output steady in fight for market share. SINGAPORE, Jan 23- Oil prices jumped in Asian trading on Friday as news of the death of Saudi Arabia's King Abdullah added to uncertainty in energy markets already facing some of the biggest shifts in decades.

  • *U.S. shale boom has challenged OPEC's dominance. *Saudi-led OPEC has kept output steady in fight for market share. SINGAPORE, Jan 23- Oil prices jumped in early Asian trading on Friday as news of the death of Saudi Arabia's King Abdullah added to uncertainty in energy markets already facing some of the biggest shifts in decades.

  • NEW YORK— Oil prices rose on the news of the death of Saudi Arabia's King Abdullah Thursday, but the king's death is not expected to change the course of oil prices over the next several months. Saudi Arabia occupies a unique position in world oil markets because it is one of the world's biggest producers, it has the strongest voice within OPEC as its largest...

  • COLUMN-ECB QE, small but imperfectly formed: James Saft Thursday, 22 Jan 2015 | 4:58 PM ET

    Jan 22- QE, European Central Bank style, passed the markets test but will have a harder time doing as well for the euro zone economy or the currency union project. Mario Draghi's plan to buy 60 billion euros a month of bonds met with success on narrow but important terms: driving euro zone stocks to a seven-year high and shaving two cents off the amount the euro...

  • Algeria to boost oil production in face of falling prices Thursday, 22 Jan 2015 | 12:27 PM ET

    ALGIERS, Algeria— Algeria's minister of energy said Thursday the country could boost oil production to compensate for the dramatic drop in oil prices. Algeria produces some 1.2 million barrels of oil a day, according to its OPEC quota, but the 50 percent drop in prices over the last few months has hurt the country. While Algeria has some $200 billion in foreign...

  • Gunvor: no rebound to $100 oil, contango to deepen Thursday, 22 Jan 2015 | 10:18 AM ET

    AMSTERDAM, Jan 22- Oil trader Gunvor's head of analysis said on Thursday crude was unlikely to return to $100 a barrel in the foreseeable future, but prices were expected to be volatile as traders sought to move oil into storage during the current glut. David Fyfe, formerly research chief at the International Energy Agency, said OPEC would not want to see a return to...

  • OPEC's Badri says oil won't fall to $20 - Bloomberg Thursday, 22 Jan 2015 | 9:45 AM ET

    LONDON, Jan 22- Oil prices will not fall to $20 or $25 a barrel, OPEC Secretary-General Abdullah al-Badri said in an interview with Bloomberg. "The price will not go to $20 or $25, I think the price will stay at where we are now," Badri said, Bloomberg reported. Producers outside the Organization of Petroleum Exporting Countries should be first to reduce their output to...

  • TOKYO, Jan 22- U.S. crude futures fell more than 1 percent on Thursday, giving up almost half the gains from the previous session, after OPEC defended its decision not to intervene to stop a collapse in oil prices since the middle of last year. *OPEC defended on Wednesday its decision not to intervene to halt the oil price plunge, shrugging off warnings by top energy...

  • CARACAS, Jan 21- President Nicolas Maduro was set to make announcements on Venezuela's economy in his annual speech to parliament on Wednesday, after several delays to promised measures to shore up the recession-hit OPEC country. Economists guess Venezuela may devalue its bolivar currency, since Maduro has spoken about making unspecified changes to the...

  • DAVOS, Switzerland, Jan 21- Ukraine has requested a longer term funding programme from the International Monetary Fund and also plans to talk with holders of its sovereign debt with a view to improving debt sustainability, Finance Minister Natalie Jaresko said. "In view of our overall economic and financial situation, Ukraine is requesting an Extended Fund...

  • DAVOS, Switzerland— The head of the International Monetary Fund says Ukrainian President Petro Poroshenko has asked for a new program of financial rescue loans. Christine Lagarde met Poroshenko on Wednesday on the sidelines of an economic forum in Davos, Switzerland, and said in a statement that the Ukrainian leader had sought to replace the country's...

  • DAVOS, Switzerland, Jan 21- The International Monetary Fund will support a bigger, longer-term funding plan for Ukraine than its current programme in return for agreed structural economic and fiscal reforms, IMF Managing Director Christine Lagarde said on Wednesday. Speaking after talks with Ukrainian President Petro Poroshenko, who made the request,...

  • *Eni urges OPEC to step in to stop price slide. *OPEC sticks to guns, defends decision not to intervene. DAVOS, Switzerland, Jan 21- OPEC defended on Wednesday its decision not to intervene to halt the oil price collapse, shrugging off warnings by top energy firms that the cartel's policy could lead to a huge supply shortage as investments dry up.

  • Oil prices have fallen almost 60 percent since June, reaching a 2009 low close to $45 a barrel earlier this month, partly because of OPEC's November decision not to cut output. Badri said, if OPEC had reduced its supply, non-member countries would have increased production, forcing OPEC to implement further cuts and lose more market share to rival producers.

  • Oil export losses to reach $300 billion in Middle East Wednesday, 21 Jan 2015 | 9:00 AM ET

    WASHINGTON, Jan 21- Losses from lower oil exports should sap up to $300 billion from economies in the Middle East and Central Asia this year, as countries in the region adjust to falling crude prices, the International Monetary Fund said on Wednesday. Economies that are particularly dependent on oil exports, including Qatar, Iraq, Libya and Saudi Arabia, will be hit...