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  • 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...

  • LONDON, May 13- A global oil glut is building as OPEC kingpin Saudi Arabia pumps near record highs in an attempt to win a market-share battle against stubbornly resistant U.S. shale production, the International Energy Agency said on Wednesday. Global oil production exceeds demand by around 2 million barrels per day, or over 2 percent, following spectacular...

  • Oil glut builds as OPEC fights for market share-IEA Wednesday, 13 May 2015 | 4:00 AM ET

    LONDON, May 13- A global oil glut is building as key OPEC oil producers pump near record highs in an attempt to win market share, the International Energy Agency said on Wednesday. Oil prices have fallen dramatically from above $115 a barrel in June 2014 due to ample supply. The decline deepened after OPEC chose to defend market share rather than cut output.

  • *Electrical steel from China, Japan, Korea, Russia, U.S. BRUSSELS, May 13- The European Union will impose anti-dumping duties from Thursday on imports of a grade of electrical steel from China, Japan, Russia, South Korea and the United States, its second set of measures this year to protect European steel producers. Duties of 28.7 percent will cover imports from...

  • *OPEC raises 2015 oil demand f'cast; US cuts production outlook. June Brent crude rose 58 cents to $67.44 a barrel by 0624 GMT. U.S. crude was up 64 cents at $61.39, after earlier hitting a high of $61.83.

  • *Oil adds to overnight rally on OPEC demand forecasts. TOKYO, May 13- Asian shares advanced on Wednesday despite another set of disappointing Chinese economic reports, as investors instead focused on hopes of further stimulus from Beijing to prevent a sharper slowdown in the world's second-largest economy. European shares were expected to get the day off to a...

  • *OPEC raises 2015 oil demand f'cast; US cuts production outlook. *Coming up: China industrial output for April by 0530 GMT. June Brent crude rose 44 cents to $67.30 a barrel by 0446 GMT.

  • *OPEC raises 2015 oil demand f'cast; US cuts production outlook. *Coming up: China industrial output for April by 0530 GMT. June Brent crude rose 32 cents to $67.18 a barrel by 0209 GMT.

  • BRASILIA, May 12- Brazil must do more to achieve its 2015 fiscal savings goal and needs deep economic reforms to foster stronger growth, the International Monetary Fund said on Tuesday. In its annual assessment, the IMF cited government missteps that have dragged the once-booming Brazilian economy toward an expected recession this year, but it endorsed the...

  • SINGAPORE, May 13- Oil prices rose in early trading on Wednesday after OPEC raised its consumption forecast and the U.S. government lowered its 2015 and 2016 crude output growth forecasts. Saudi-led air strikes in Yemen raised fears over the security of oil supplies in the Middle East. *In Yemen, Saudi-led air strikes aimed at Iran- allied Houthis killed 90 people...

  • Brazil must do more to meet key budget target -IMF Tuesday, 12 May 2015 | 5:34 PM ET

    BRASILIA, May 12- Brazil must do more if it is to meet its main budget surplus goal this year, and deep economic reforms are necessary to foster stronger growth in the future, the International Monetary Fund said on Tuesday. The IMF said further measures will be needed to meet this year's primary budget surplus target of 1.2 percent of Brazil's gross domestic...

  • *Saudi air offensive in Yemen feeds concern over Mideast crude. NEW YORK, May 12- Oil rose 3 percent on Tuesday, the most in three weeks, as a weak dollar lifted commodities denominated in the currency and OPEC raised slightly its forecast for world oil demand growth. Violence in Yemen also boosted crude prices, raising concerns over the security of Middle East...

  • *Greece used temporary expedient to make IMF payment. ATHENS, May 12- Greek Prime Minister Alexis Tsipras on Tuesday called on lenders to break an impasse in cash-for-reform talks after Athens had to resort to a temporary expedient to make a crucial payment to the IMF. At his second cabinet meeting in three days, Tsipras told ministers Athens was sticking to its "...

  • UPDATE 9-Oil up about 3 pct; volatility threatens Tuesday, 12 May 2015 | 1:12 PM ET

    NEW YORK, May 12- Oil prices jumped about 3 percent on Tuesday as a weak dollar lifted commodities denominated in the currency and OPEC slightly raised its forecast for world oil demand growth. Violence in Yemen also boosted oil prices, raising concerns over the security of Middle East crude supplies. Saudi-led air strikes aimed at Iran- allied Houthis hit on a...

  • NEW YORK, May 12- The U.S. government on Tuesday lowered its 2015 and 2016 crude oil production growth forecasts amid lower prices and fewer active drilling rigs. OPEC cut its forecast for the growth in U.S. oil output this year by 40,000 bpd to 700,000 bpd. It left the estimate for all non- OPEC countries' supply growth unchanged.

  • NEW YORK, May 12- Oil prices jumped on Tuesday as a weak dollar lifted commodities denominated in the currency and OPEC slightly raised its forecast for world oil demand growth. Violence in Yemen also boosted oil prices, raising concerns over the security of Middle East crude supplies. Saudi-led air strikes aimed at Iran- allied Houthis hit on a rocket base in...

  • Sees slightly higher demand for OPEC oil in 2015. LONDON, May 12- OPEC said its oil output rose further in April, keeping an excess supply in the market despite stronger demand and signs the producer group's strategy of letting prices fall to hurt other producers is taking effect. Last year, OPEC refused to cut its output despite the price collapse, seeking to...

  • BRENT CRUDE UP $2 A BARREL AS MARKET EXTENDS RALLY ON OPEC DEMAND FORECAST, WEAK DOLLAR.

  • *Greece used temporary expedient to make IMF payment. ATHENS, May 12- Greece's leftist cabinet met for the second time in three days on Tuesday to thrash out what concessions to make in cash-for-reform talks with creditors after Athens had to resort to a temporary expedient to make a crucial payment to the IMF. Germany's hardline finance minister Wolfgang...

  • CRUDE PRICES EXTEND GAINS AFTER OPEC RAISES WORLD OIL DEMAND GROWTH FORECAST.