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  • OPEC finds oil output consensus: "Don't rock the boat" Wednesday, 3 Jun 2015 | 3:39 AM ET

    VIENNA, June 3- OPEC is set to carry on pumping oil nearly flat-out for months more, content that last year's shock market therapy has revived moribund demand and knocked back growing competition. That marks a change in tone from OPEC's last meeting in November 2014, when Venezuela and others mounted an unsuccessful bid to convince Saudi Arabia and its Gulf...

  • ATHENS, June 3- Greece will not make a June 5 repayment to the International Monetary Fund if there is no prospect of an aid-for-reforms deal with its international creditors soon, the spokesman for the ruling Syriza party said on Wednesday. Greece owes a total of about 320 billion euros, of which about 65 percent to euro zone governments and the IMF, and about 8.7...

  • MOSCOW/ ANKARA, June 3- Russia's Gazprom plans to start building a pipeline to Turkey this month to get gas to Europe without going through Ukraine, company sources said, although it has no firm agreement with Ankara and faces opposition from the European Union. With the EU determined to reduce its energy dependence on Russia and Turkey seeking big discounts for...

  • *OPEC not expected to cut output at Friday meeting. *Some analysts say OPEC quota could rise. SINGAPORE, June 3- Crude oil prices fell on Wednesday as oversupply weighed on markets, with OPEC not expected to announce a production cut at its meeting on Friday.

  • Oil prices fall as oversupply weighs on markets Tuesday, 2 Jun 2015 | 8:34 PM ET

    SINGAPORE, June 3- Crude oil prices fell in early Asian trading on Wednesday as oversupply weighed on markets, with OPEC not expected to announce a production cut at its meeting on Friday. Core Gulf members of the Organization of the Petroleum Exporting Countries, which controls over 40 percent of the world's crude production, have a consensus to keep the group's...

  • VIENNA, June 2- Core Gulf OPEC members and others have a consensus to keep the organization's oil production ceiling intact at its meeting this week, a senior Gulf OPEC delegate told Reuters on Tuesday, reinforcing a view among a growing chorus of members. Most members expect OPEC to stand by its decision to keep pumping out oil at current rates at its meeting on...

  • GULF AND SOME OTHER OPEC MEMBERS IN CONSENSUS ON MAINTAINING OIL OUTPUT CEILING AT MEETING- SENIOR GULF OPEC DELEGATE.

  • 'NOBODY WANTS TO ROCK THE BOAT' AT THE UPCOMING OPEC MEETING- GULF DELEGATE.

  • NAIROBI, June 2- Kenya's president has picked an IMF adviser, Patrick Ngugi Njoroge, as the next central bank governor, pending approval by parliament, his spokesman said on Tuesday. Njoroge is an adviser to a deputy managing director at the Washington- based International Monetary Fund, has been named to lead the bank at a time when the shilling has come under heavy...

  • BRUSSELS, June 2- The United States expects it will be able to clinch an agreement "very soon" with the European Union on a deal allowing companies to easily transfer data across the two blocs, a U.S. government representative said on Tuesday. The European Commission, the EU executive, reopened the Safe Harbor agreement, which makes it easier for companies to...

  • The likelihood of high global supplies from OPEC's lack of will to cut output when it meets this week remained a factor for the market, but did not immediately impact prices. Ministers from the Organization of the Petroleum Exporting Countries, responsible for more than a third of the world's crude output, meet in Vienna on Friday to decide on production policy...

  • BRUSSELS, June 2- The European Commission, the European Central Bank and the International Monetary Fund agreed on Tuesday on the terms of a cash-for-reform deal to be put to Greece in a bid to conclude four months of debt negotiations, a senior EU official said. The proposal was drafted after the leaders of Germany and France met heads of the three institutions...

  • NEW YORK, June 2- U.S. stocks rose on Tuesday helped by the dollar's decline and bond yields rose while investors searched for clarity on Greece's debt crisis. Athens faces a Friday deadline to repay 300 million euros to the International Monetary Fund. "It is all revolving around the climactic situation in Europe," said Ken Polcari, Director of the NYSE floor...

  • WASHINGTON, June 2- Some countries with high public debt levels might be able to "just live with it," because cutting back carries its own risks, three IMF officials said in a paper that disputes decades of dogma about the benefits of austerity. Now, IMF economists Jonathan Ostry, Atish Ghosh and Raphael Espinoza take that advice a step further, arguing that countries...

  • The likelihood of high global supplies from OPEC's lack of will to cut output when it meets this week remained a factor for the market, but did not immediately impact prices. Ministers from the Organization of the Petroleum Exporting Countries, responsible for more than a third of the world's crude output, meet in Vienna on Friday to decide on production policy...

  • VIENNA, June 2- Angola's oil minister said on Tuesday that $80 per barrel may be right for crude, joining a chorus of OPEC officials and delegates hoping for a further price recovery in months to come despite a global glut. OPEC meets on Friday and is widely expected to maintain its production policy. The message will please some of the poorer OPEC members who...

  • Regardless of whether a massive global oil storage trade is rapidly unwound, world oil production has been rising much faster than consumption, feeding an unprecedented global glut on the back of booming U.S. oil output and a Saudi-led decision by OPEC to maintain high output to defend market share. Analysts from Citi said on Tuesday that given OPEC was widely...

  • VIENNA, June 2- Venezuela's oil minister Asdrubal Chavez said on Tuesday that the best way towards achieving stabilization in the oil market is through agreement and active cooperation among all exporters. In a statement ahead of Friday's meeting of the Organization of the Petroleum Exporting Countries, he also highlighted the work being undertaken at a...

  • Greece must repay four loans totaling 1.6 billion euros to the International Monetary Fund this month, starting with a 300 million euro payment on June 5. The leaders of Germany, France and Greece's international creditors agreed late on Monday to work with "real intensity" as they try to reach a deal that would prevent a default. "Stocks have been trying to break...

  • VIENNA, June 2- Angolan Oil Minister Jose Botelho de Vasconcelos said on Tuesday that $80 per barrel may be the right price for crude and that he would like oil prices to rise. Brent crude oil for July was up 40 cents at $65.28 a barrel by 1030 GMT. Oil ministers from the Organization of the Petroleum Exporting Countries meet on Friday in Vienna to decide on production...