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  • *Athens talks of compromise after Tsipras rejected proposal. For all the more positive mood music, a European Union official reported "no new developments" in the hunt for a deal under which the creditors would resume aid to Athens in return for promises of more austerity. Athens and Brussels exchanged proposals last week in the hope of breaking an impasse that if...

  • *Greece worries rekindle safety bid for U.S. bonds. Treasuries yields fell on Monday with benchmark yields retreating from seven-month highs as concerns about Greece and its ability to avert default renewed safe-haven investor demand for lower-risk government debt. Greece delayed a 300 million euro payment to the International Monetary Fund last week and...

  • *OPEC oil production likely to continue to exceed demand. "A 4-6 percent drop is acceptable for refinery maintenance season in China, but 20 percent or more is a sign of demand collapse," said Bob Yawger, director of energy futures at Mizuho Securities USA. Phil Flynn, an analyst at Chicago- based Price Futures Group, said a continuous slump in Chinese demand could be a "...

  • MADRID, June 8- The International Monetary Fund on Monday increased its growth forecast for Spain in 2015 and 2016 to 3.1 percent and 2.5 percent from the 2.5 percent and 2 percent it forecast in April but warned the country against reversing unpopular reforms. Some investors have fretted that Spain could cool the pace of its reforms after the country's ruling...

  • *Greece worries rekindle safety bids for U.S. bonds. Treasuries yields fell on Monday with benchmark yields retreating from seven-month highs as concerns about Greece and its ability to avert default renewed safehaven demand for low-risk government debt. Greece delayed a 300 million euro payment to the International Monetary Fund last week and rattled...

  • MADRID, June 8- The International Monetary Fund on Monday increased its forecast for growth in Spain for 2015 and 2016 to 3.1 percent and 2.5 percent from the 2.5 percent and 2 percent it forecast in April. The IMF warned that Spain needed to make additional reforms since it was currently benefitting from lower oil prices, the depreciation of the euro and the...

  • COLUMN-OPEC adjusts to new oil market reality: Kemp Monday, 8 Jun 2015 | 8:44 AM ET

    LONDON, June 8- OPEC has never really been a "cartel" in the conventional sense of an organisation that agrees to restrict output to maximise revenues. Attempts to buck the market always end in failure, a lesson top Saudi officials and others in OPEC have learned the hard way over the last 50 years. OPEC ministers confer regularly and typically announce their...

  • British Prime Minister David Cameron and European Council President Donald Tusk said they hoped the G7, meeting in Germany, would present a united front on sanctions towards Russia over the Ukraine crisis. European Union leaders agreed in March that its sanctions on Moscow over its role in Ukraine would stay until a ceasefire agreement reached in the...

  • *OPEC oil production to continue to exceed demand. LONDON, June 8- Oil prices slipped on Monday after China's fuel imports dropped sharply and as markets digested an OPEC decision to keep its production target unchanged, a move analysts said would keep the market oversupplied for the rest of the year. "The OPEC decision is bearish for oil," said Tamas Varga, oil...

  • LUXEMBOURG, June 8- European Union energy chiefs on Monday sought to galvanize efforts to create a single European energy market with a set of accords on closer power and gas ties while disunity simmers over the finer detail of implementing goals for a new decade of greener fuel. The European Commission, the EU executive, has used the political crisis with the...

  • KIEV, June 8- Ukrainian Finance Minister Natalia Yaresko said she was convinced Ukraine would receive $1.7 billion in a second tranche of credit from the International Monetary Fund, even if no deal was tied up with creditors to restructure huge debts. Ukraine, which has been driven to the edge of bankruptcy by gross economic mismanagement and a separatist...

  • UKRAINE'S YARESKO SAYS AGREEMENT WITH CREDITORS ON RESTRUCTURING IS IMPORTANT FOR THE IMF BUT "NOT AN ESSENTIAL CONDITION".

  • UKRAINE'S FINANCE MINISTER SAYS IN NEWSPAPER INTERVIEW SHE CONVINCED IMF WILL DISBURSE SECOND TRANCHE OF $1.7 BILLION CREDIT IN JULY EVEN IF NO DEAL REACHED ON DEBT RESTRUCTURING.

  • VIENNA, June 8- To hear OPEC ministers in Vienna last week, one would think the cartel's battle for market share is a complete success and oil prices are now firmly anchored where they are. It will take time for markets to rebalance, "was the mantra from OPEC kingpin Saudi Arabia's oil minister Ali al-Naimi and his peers. However, the oil markets have probably become...

  • *OPEC says to keep high production targets in place. *OPEC output could continue to exceed 30 mln bpd quota. SINGAPORE, June 8- Crude oil prices fell on Monday as China's oil imports dropped sharply and markets were expected to be increasingly oversupplied following OPEC's decision to keep its production targets unchanged.

  • *OPEC says to keep high production targets in place. *OPEC output could continue to exceed 30 mln bpd quota. "OPEC projected a continuation of firm demand in global crude demand and judged there's no need to change current production levels.

  • *IMF official calls for continued communication from Fed. SEOUL, June 8- The International Monetary Fund's deputy managing director warned on Monday that there is "considerable" risk for negative spillover from the U.S. "The risk is once market sentiment shifts- possibly triggered by normalisation- yields could sharply increase and capital flows could reverse,"...

  • GARMISCH-PARTENKIRCHEN, Germany, June 7- British Prime Minister David Cameron will use a meeting of the Group of Seven industrial nations to vent frustration at what he sees as poor progress toward a multibillion-dollar trade deal between the European Union and the United States. President Barack Obama on Sunday at the G7 and to join host Angela Merkel, the...

  • WILLISTON, N.D., June 5- Oil executives in North Dakota, a center of the U.S. shale revolution, say OPEC made a questionable bet when it decided on Friday to stick with a policy that aims to push higher cost American producers out of the market by keeping output high. "High commodity prices hide a lot of inefficiencies in the system," said Tommy Nusz, chief executive of...

  • *Greece postpones 300 million euro IMF repayment. ATHENS, June 5- Greek Prime Minister Alexis Tsipras on Friday spurned "absurd" terms of proposed aid from lenders and delayed a debt payment to the International Monetary Fund, prolonging an impasse that threatens to push Greece into default and out of the euro zone. The contradictory message underscored the...