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  • 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...

  • *OPEC keeps output unchanged in oversupplied market. "I guess some people wanted to take their oil shorts off before the weekend and put them on again next week," said Tariq Zahir, an oil bear at Tyche Capital Advisors in Laurel Hollow, New York. "Otherwise how do you have a runup on a day like this, when OPEC promises to flood the market with more supply?"

  • *OPEC keeps output changed in oversupplied market. NEW YORK, June 5- Oil staged its first rally in three days on Friday, gaining 2 percent, despite warnings of more oversupply as a result of OPEC's decision to keep pumping crude without restraint. Otherwise how do you have a run-up on a day like this when OPEC promises to flood the market with more supply? "

  • *Greece postpones 300 million euro IMF repayment. ATHENS, June 5- Athens delayed a 300 million euro payment to the International Monetary Fund on Friday and Prime Minister Alexis Tsipras spurned an "absurd" proposal from lenders in the impasse that threatens to push Greece into bankruptcy and out of the euro. In a speech aimed at winning parliament's backing for...

  • June 5- Oil for prompt delivery in the United States was at its widest discount on Friday to the next month as oversupply worries mounted after OPEC decided to pump without change to its quota, traders said. U.S. crude's front-month contract settled 43 cents lower than the second-month, for the biggest discount between the two contracts since May 27.

  • June 5- U.S. oil drillers boosted activity in four key basins this week, bringing the promise of additional oil to a market that faces OPEC's Friday decision to leave production caps unchanged. With some OPEC countries like Saudi Arabia and Iraq pumping oil at record or near record levels, the group is trying to keep crude prices low enough to support global oil...

  • UNITED STATES APPEALS PARTS OF WORLD TRADE ORGANIZATION REPORT ON DOLPHIN-SAFE TUNA LABELING IN CASE AGAINST MEXICO- WTO.