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  • Iraq exports boost to add pressure on 2015 oil market Thursday, 4 Dec 2014 | 5:55 AM ET

    *Higher Iraqi output cited as factor against OPEC cut. LONDON, Dec 4- Iraq's plan for higher oil exports in 2015, emerging in detail just days after OPEC shunned any output cut, will add to global over supply and is likely to entrench the reluctance of other OPEC members to curb their own supplies. When OPEC met on Nov. 27, Saudi Arabia and its Gulf allies opposed calls...

  • Brent nudges up above $70 ahead of U.S. data Wednesday, 3 Dec 2014 | 9:42 PM ET

    SINGAPORE, Dec 4- Brent crude rose above $70 a barrel on Thursday, making small gains along with U.S. futures, as a fall in crude stockpiles in the United States supported prices. Analysts expect prices to head lower despite recent steep falls as U.S. shale oil production growth stays strong while OPEC has decided not to cut supply, preferring to protect market share.

  • TEGUCIGALPA, Dec 3- The International Monetary Fund on Wednesday said it had offered Honduras roughly $189 million in loans that the poor Central American country could tap to help contain a ballooning government deficit. Honduras is one of the poorest countries in the Americas and has the world's highest murder rate, fuelling a surge in child migration to the...

  • Dec 3- North Dakota Governor Jack Dalrymple proposed a two-year state budget on Wednesday that forecasts rebounding oil prices and a 23 percent jump in oil taxes, a tacit bet the state's energy boom will continue unabated. Last week OPEC opted not to cut its oil production, a step seen by many as designed to squeeze North Dakota and other oil-producing regions of...

  • BRUSSELS, Dec 3- A British-Spanish territorial dispute over Gibraltar threatened to block implementation of agreement by European Union member states on Wednesday to merge national air corridors to create shorter flight paths and cut costs and carbon dioxide emissions. But Spain wants Gibraltar airport excluded from EU aviation law until a dispute about...

  • BRUSSELS, Dec 3- A British-Spanish territorial dispute over Gibraltar threatened to block implementation of agreement by European Union member states on Wednesday to merge national air corridors to create shorter flight paths and cut costs and carbon dioxide emissions. But Spain wants Gibraltar airport excluded from EU aviation law until a dispute about...

  • * "Bad news" at U.N. climate talks in Lima- Figueres. LIMA, Dec 3- This year is on track to be the hottest on record, or at least among the very warmest, the United Nations said on Wednesday in new evidence of long-term warming that adds urgency to 190- nation talks under way in Lima on slowing climate change. The WMO said average sea surface temperatures hit record highs in...

  • LONDON, Dec 3- With an economy in meltdown, a currency that has tanked 45 percent and a possible sovereign default ahead, more and more of Ukraine's companies are finding themselves unable to repay overseas debt. While a relatively modest $12.4 billion in private sector debt falls due in 2015, according to International Monetary Fund estimates, it still exceeds...

  • *OPEC oil supply falls 340,000 bpd in Nov due to Libya- survey. "There has been a technical bounce back from the very strong declines that we have seen in the lead-up to and after the OPEC meeting," said Harry Tchilinguirian, an oil analyst at BNP Paribas in London. Brent for delivery in January was up 46 cents at $71 a barrel by 1450 GMT after falling by $2 on Tuesday on a...

  • If OPEC cannot act to defend the prices and revenues of its member countries, does the organisation still serve any purpose? There is an assumption among some commentators that OPEC is only relevant and working if ministers can reach a production agreement in response to shifts in prices, and that strong disagreement is a sign of dysfunction.

  • *OPEC oil supply falls 340,000 bpd in Nov due to Libya- survey. Brent hit a five-year low below $68 a barrel on Monday after averaging around $110 a barrel in 2011 to 2013. "There has been a technical bounce back from the very strong declines that we have seen in the lead-up to and after the OPEC meeting," said Harry Tchilinguirian, an oil analyst at BNP Paribas in London.

  • *OPEC oil supply falls 340,000 bpd in Nov due to Libya- survey. Brent for delivery in January rose 62 cents to $71.16 a barrel by 0839 GMT after falling $2 on Tuesday. U.S. crude for January delivery was at $67.54 a barrel, off the day's high of $67.97, but up 66 cents from the previous session when prices dropped more than $2.

  • UPDATE 2-Brent holds above $70 in turbulent oil market Wednesday, 3 Dec 2014 | 2:43 AM ET

    *OPEC oil supply falls 340,000 bpd in Nov due to Libya- survey. The market has swung between sharp gains and losses since OPEC said last week that it would maintain steady output in an oversupplied market. Brent hit a high of $71.46 a barrel before trading up 13 cents at $70.67 by 0731 GMT, after falling $2 on Tuesday.

  • *OPEC oil supply falls 340,000 bpd in Nov due to Libya- survey. The market has swung through sharp gains and losses since OPEC announced last week that it would maintain steady output in an oversupplied market. U.S. crude for January was at $67.85 a barrel, up 97 cents, after dropping more than $2 the session before.

  • The fund, run by ex- Credit Suisse traders George "Beau" Taylor and Trevor Woods, runs a diversified energy-related portfolio, but the slump in oil prices to five-year lows after the OPEC meeting was a key driver, the sources said. Pierre Andurand, founder of the BlueGold fund that had gigantic gains during the 2008 oil market slump, made 18 percent last month at his...

  • Benchmark Brent crude oil on Monday rose more than 3 percent, the most in two years, on speculation that its sharp drop following last week's OPEC meeting was overdone. Iraq's government said it reached an agreement with Kurdish authorities to export 300,000 barrels per day of oil from Kirkuk and 250,000 bpd from the northern Kurdish region through Turkey.

  • WASHINGTON, Dec 2- Colombia's government rewarded children who showed up for school in Bogota with cash payments for their families, an attempt to reduce high school drop-out rates and encourage university attendance. But the program was less effective until the government made a tweak: some families would receive smaller regular sums and get a bigger payout...

  • ATHENS, Dec 2- Greece has rejected its international lenders' demands for tax rises and income cuts next year, Prime Minister Antonis Samaras said on Tuesday, arguing such measures would be disastrous for the country which has emerged from a deep economic recession. "Greece has done a lot already," Samaras said during an economic conference. The finance ministry...

  • CARACAS, Dec 2- The World Bank's international arbitration panel will not decide this year whether to take up Venezuela's request for a revision of an award that ordered it to pay Exxon Mobil Corp in compensation for oil projects nationalized in 2007, a lawyer for the country told Reuters on Tuesday. The International Center for Settlement of Investment...

  • *OPEC output 300,000 bpd above 30 million bpd target. Supply from the Organization of the Petroleum Exporting Countries averaged 30.30 million bpd in November, down from a revised 30.64 million bpd in October, according to the survey based on shipping data and information from sources at oil companies, OPEC and consultants. OPEC at its meeting in Vienna...