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  • Al-Jaidah said demand for OPEC oil is likely to improve, as prices below $100 will hinder the growth of shale oil. On Friday, U.S. crude settled down 19 cents at $59.69 a barrel, after falling more than $1 during the session. Over the last few years, it has created 10 joint ventures in the United States, Britain, Italy, Singapore, Egypt and elsewhere, though it has not...

  • CARACAS, May 15- Venezuela is pushing for a new agreement between OPEC and non- OPEC nations to stabilize oil prices, President Nicolas Maduro said on Friday, in the most serious indication yet of a renewed drive to boost prices back to $100 per barrel. "We're currently working on a deal that hopefully can materialize in June regarding an announcement between OPEC...

  • ATHENS, May 15- Greek Prime Minister Alexis Tsipras on Friday vowed that his government would not back down from its red lines in negotiations with its foreign lenders but said a deal must be reached soon following months of talks. Athens is fast running out of cash and talks with European Union and IMF lenders on more aid have been deadlocked over their demands...

  • *OPEC pumps 2 million bpd more than needed. NEW YORK, May 15- Brent rebounded from Friday's early weakness while U.S. crude held to losses as traders and investors debated whether oil's rally over the past month and a half should continue amid stubbornly high supplies. "A mood change is in the air," Eugen Weinberg, global head of oil and commodities research at...

  • *OPEC pumps 2 million bpd more than needed. *Coming Up: Baker Hughes oil rigs data at 1700 GMT. "A mood change is in the air," Eugen Weinberg, global head of oil and commodities research at Commerzbank in Frankfurt, told the Reuters Global Oil Forum.

  • UPDATE 5-Oil falls below $66 as global glut builds Friday, 15 May 2015 | 9:38 AM ET

    *OPEC pumps 2 million bpd more than needed. *Coming Up: Baker Hughes oil rigs data at 1700 GMT. "A mood change is in the air," Eugen Weinberg, global head of oil and commodities research at Commerzbank in Frankfurt, told the Reuters Global Oil Forum.

  • *OPEC pumping 2 million bpd more than needed. *Coming Up: Baker Hughes oil rigs data at 1700 GMT. "A mood change is in the air," Eugen Weinberg, global head of oil and commodities research at Commerzbank in Frankfurt, told Reuters Global Oil Forum.

  • DIARY- Emerging Markets Economic Events to May 28 Thursday, 14 May 2015 | 8:02 PM ET

    Greek Prime Minister Alexis Tsipras, Finance Minister Yanis Varoufakis, Deputy Finance Minister Dimitris Mardas, Economy Minister George Stathakis, Chief Executive of the European Financial Stability Facility and Deputy Director at the European Department at International Monetary Fund Pul Thomsen are among keynote speakers. PRAGUE- The "History of...

  • NEW YORK, May 14- The White House has dismissed the Canadian government's claim that a ban on some proprietary trading on Wall Street violates a free-trade agreement, saying it has the legal right to protect its financial system. The rule, adopted in 2010 but delayed in implementation, is meant to curb the risky proprietary trading blamed for worsening the...

  • WASHINGTON, May 14- The European Central Bank will not stop short in rolling out its trillion-euro-plus money printing scheme, its president said on Thursday, playing down fears that quantitative easing could blow price bubbles. Mario Draghi's clear commitment, delivered in Washington to an audience at the International Monetary Fund, shows there is little...

  • WASHINGTON, May 14- The International Monetary Fund on Thursday said its chief economist Olivier Blanchard is retiring from the IMF, and the search for his replacement would begin immediately. Blanchard will take up a new position as a senior fellow at the Peterson Institute for International Economics, a nonprofit think tank in Washington, the IMF said.

  • WASHINGTON, May 14- The International Monetary Fund's chief economist, Olivier Blanchard, will step down from his post at the end of September, the global lender said on Thursday. Blanchard has helped steer the Fund since 2008.. The Wall Street Journal reported earlier on Thursday that Blanchard will start a new position in October as a senior fellow at the...

  • WASHINGTON, May 14- The International Monetary Fund's chief economist Olivier Blanchard is leaving the IMF, the Wall Street Journal reported on Thursday, saying it was not yet clear who would replace him. Blanchard, who helped steer the Fund since 2008 and guided it through the global economic recession, told the newspaper he needs to digest the issues he's...

  • LONDON, May 14- Bank of England Governor Mark Carney said on Thursday it was important that the British government provide clarity on how it will proceed with a planned referendum on the country's membership of the European Union. Carney told BBC radio that Britain's access to the EU's common market was one of its big economic advantages. It's the largest...

  • TASHKENT, May 14- Uzbekistan's government needs to speed up private sector reform to make sure robust economic growth remains sustainable, the International Monetary Fund said, forecasting a strong 2015.. Gross domestic product in Central Asia's most populous nation grew by 8.1 percent last year and remained robust in the first quarter of this year, rising by...

  • DIARY- Top Economic Events to May 27 Wednesday, 13 May 2015 | 8:01 PM ET

    WASHINGTON- European Central Bank President Mario Draghi will give the Michel Camdessus Central Banking Lecture at the International Monetary Fund- 1400 GMT. LONDON- Bank of England member Don Kohn speaks to the Society of Business Economists- 1700 GMT. OTTAWA- Bank of Canada publishes its semi-annual review, with articles on Inflation Dynamics in the...

  • UPDATE 4-Oil extends gains after U.S. fuel stocks drop Wednesday, 13 May 2015 | 7:08 AM ET

    *Oil glut builds as OPEC members pump near record levels. *IEA cuts demand estimate for OPEC crude. LONDON, May 13- Brent crude oil rose above $67 a barrel towards five-month highs on Wednesday after U.S. crude stockpiles fell for a second straight week, suggesting that the world's biggest oil market is rebalancing.

  • *Oil glut builds as OPEC members pump near record levels. *IEA cuts demand estimate for OPEC crude. LONDON, May 13- Brent crude oil rose above $67 a barrel towards five-month highs on Wednesday after U.S. crude stockpiles fell for a second straight week, suggesting that the world's biggest oil market is rebalancing.

  • MOSCOW, May 13- Russia is consulting with OPEC before a meeting of the oil producers' group in June and the current oil price is within range of Moscow's earlier forecasts, a Russian energy ministry official said on Wednesday. The statement by Kirill Molodtsov, deputy energy minister, suggests Moscow is less worried about the oil price after it rebounded to over...

  • Russia says current oil price in line with forecast Wednesday, 13 May 2015 | 4:31 AM ET

    MOSCOW, May 13- Russia is continuing its consultations with OPEC before a meeting of the oil producers' group in June and sees the current oil price within the range of Moscow's earlier forecasts, a Russian energy ministry official said on Wednesday. The statement by Kirill Molodtsov, deputy energy minister, suggests Moscow is less worried about the oil price...