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  • Workers wash off hoses that are part of the oil rig owned by Liberty Resources, located just outside of Tioga, ND in the Bakken region of US.

    The "Futures Now" team discusses crude oil's 2 percent drop, and where the commodity may head from here.

  • *OPEC- led production cuts support prices. NEW YORK, Feb 7- Oil prices fell on Tuesday, pressured by sluggish demand and evidence of a burgeoning revival in U.S. shale production that could complicate efforts by OPEC and other producers to reduce a supply glut. Benchmark Brent crude was down 80 cents at $54.92 a barrel by 11:31 EST.

  • CRUDE DOWN BY $1 AT $51.94 A BARREL, THE LOWEST SINCE JAN 20.

  • LONDON, Feb 7- Hedge funds have accumulated a large net long position in crude oil futures and options but the size of the position and its implications for future movements in prices are disputed. Hedge funds and other money managers had accumulated a net long position in the three main futures and options contracts linked to Brent and West Texas Intermediate...

  • *OPEC- led production cuts support prices. LONDON, Feb 7- Oil prices fell on Tuesday as lower production by OPEC and other exporters was undermined by growing evidence of a revival in U.S. shale production and sluggish demand. But while OPEC and Russia have together cut at least 1.1 million bpd so far, rising U.S. production, as well as signs of slowing demand growth,...

  • *OPEC- led production cuts support prices. LONDON, Feb 7- Oil prices slipped on Tuesday as lower production by OPEC and other exporters was undermined by growing evidence of a revival in U.S. shale production and sluggish demand. But while OPEC and Russia have together cut at least 1.1 million bpd so far, rising U.S. production, as well as signs of slowing demand growth,...

  • *OPEC- led production cuts support prices. LONDON, Feb 7- Oil prices steadied on Tuesday as lower production by OPEC and other exporters balanced growing evidence of a revival in U.S. shale production and sluggish demand. But while OPEC and Russia have together cut at least 1.1 million bpd so far, rising U.S. production, as well as signs of slowing demand growth,...

  • *Brent/WTI futures play declined as volatility ebbed. LONDON, Feb 7- After several years of neglect, oil investors are again betting heavily on the price difference between two global benchmarks- Brent and U.S. crude futures- due to a push in Washington to impose a controversial import tax. Then OPEC's decision in November to cut crude output, hoping to reverse more...

  • *OPEC- led production cuts support prices. LONDON, Feb 7- Oil prices steadied on Tuesday as lower production by OPEC and other exporters balanced growing evidence of a revival in U.S. shale production and sluggish demand. "The general perception is that OPEC is cutting production, which is supporting prices, but high stock levels, rising rig counts and growing U.S....

  • Jefferies Equities Analyst Jason Gammel reacts to BP’s latest earnings and its performance going forward in light of the fluctuating oil price.

  • *OPEC- led production cut is main support for prices. LONDON, Feb 7- Oil prices steadied on Tuesday as lower production by OPEC and other exporters balanced growing evidence of a revival in U.S. shale production and sluggish demand. "The general perception is that OPEC is cutting production, which is supporting prices, but high stock levels, rising rig counts and...

  • *OPEC cuts to have limited impact on BP in Abu Dhabi. LONDON, Feb 7- BP missed quarterly profit forecasts as annual earnings fell for a second year after average yearly oil prices hit their lowest in 12 years but said it expected producers' output cuts to keep prices above $50 a barrel this year. The oil major said it expected to be able to balance its books with an oil...

  • *OPEC- led production cut is main support for prices. Brent crude futures, the international benchmark for oil prices, were trading at $55.77 per barrel at 0753 GMT, up 5 cents from the last close. "$55 per barrel is quite obviously the pivot point in this market... and it has been for some time," said Matt Stanley, a fuel broker with Freight Investor Services in Dubai.

  • An oil platform is seen in the North Sea, around 100 miles east of Aberdeen, Scotland.

    GLG Fund Manager Henry Dixon reacts to BP’s latest earnings, after the oil major missed analyst expectations.

  • Norway's Statoil posted fourth-quarter results well below forecasts, including a $2.3 billion net impairment charge.

  • The U.S. was the world's most confident region as measured by a quarterly survey of business leaders.

  • *OPEC- led production cut is main support for prices. Brent crude futures, the international benchmark for oil prices, were trading at $55.92 per barrel at 0245 GMT, up 20 cents from the last close. While OPEC and Russia have together cut at least 1.1 million bpd so far, rising output elsewhere as well as signs of slowing demand growth threaten to undermine these...

  • Oil jack pumps are pictured in the Kern River oil field in Bakersfield, Calif.

    Oil prices fell on Tuesday, pressured by sluggish demand and evidence of a burgeoning revival in U.S. shale production.

  • Brent crude futures, the international benchmark for oil prices, were trading at $55.96 per barrel at 0151 GMT, up 24 cents from the last close. While OPEC and Russia have together cut at least 1.1 million bpd so far, rising output elsewhere as well as signs of slowing demand growth threaten to undermine these efforts, traders said. "The number of oil rigs in the U.S. now...

  • Singapore Exchange has held talks with Saudi Aramco on a secondary listing, two sources familiar with the matter said.