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  • NEW YORK, March 1- Oil markets closed up as much as 2 percent on Tuesday, before giving back most of their gains in post-settlement trade after data suggesting a huge build in U.S. crude stockpiles already at record high levels. The American Petroleum Institute, an industry group, said domestic crude inventories rose by 9.9 million barrels last week, way above a 3.6...

  • *Russia, Saudi Arabia, Qatar, Venezuela agree on oil output freeze. *Novak says Iran should be offered individual deal. Novak, who was negotiating the first potential global oil pact in 15 years in Doha, said Putin and the oil firms, which pumped at a new post-Soviet high in January at 10.88 million barrels per day, discussed the deal at the Kremlin.

  • *China to free up $100 bln in lending. *OPEC production dips to 32.37 million bpd. Benchmark Brent crude futures were down 56 cents at $36.01 a barrel at 1451 GMT, erasing most gains made earlier in the session, when the contract reached a peak of $37.06.

  • MOSCOW, March 1- President Vladimir Putin said on Tuesday that Russia's foreign exchange reserves should not be used to help resolve the country's current economic problems. "Gold and foreign exchange reserves are for other purposes," Putin told a meeting of Russian entrepreneurs. "are not for financing current economic problems."

  • What to expect from Putin's oil meeting

    Georgetown University adjuct professor Brenda Shaffer and John Bussey of Wall Street Journal, weigh in on what to expect from Vladimir Putin and his meeting with top managers of Russia’s leading oil producers.

  • *Oil overhang remains huge, Iran raises exports. LONDON, Feb 29- Brent crude futures rose 2 percent on Monday, adding to strong gains last week, on increasing hopes that the market has bottomed out and as OPEC kingpin Saudi Arabia said it would work with other producers to limit oil market volatility. Saudi Arabia and several fellow OPEC members agreed with non-OPEC...

  • *Oil overhang remains huge, Iran raises exports. LONDON, Feb 29- Brent crude futures edged higher on Monday, adding to strong gains last week, on rising hopes that the market has bottomed out and as OPEC kingpin Saudi Arabia said it would work with other producers to limit oil market volatility. Saudi Arabia and several fellow OPEC members agreed with non-OPEC...

  • MOSCOW, Feb 28- The 26 miners who were trapped in a Russian coal mine above the Arctic circle have died and rescue operations have been halted after a third blast underground killed several rescue workers, emergency services said on Sunday. "The circumstances in the affected part of the mine did not allow anyone to survive," Russia's Emergencies Minister Vladimir...

  • MOSCOW, Feb 26- President Vladimir Putin removed the head of Russia's ailing state development bank Vnesheconombank on Friday and appointed a successor from Sberbank who will be expected to oversee a bailout that could swell to as much as $16 billion. The Kremlin's dismissal of VEB chief Vladimir Dmitriev, announced on its website, had been widely expected.

  • MOSCOW, Feb 26- Twenty six miners were missing and four confirmed dead after an accident on Thursday at a coal mine above the Arctic circle owned by a subsidiary of Severstal, Russian prosecutors said on Friday. Announcing the opening of a criminal investigation into a possible breach of safety regulations at the Severnaya mine in Vorkuta, Russia's...

  • MOSCOW, Feb 26- President Vladimir Putin has removed the head of ailing Russian state development bank Vnesheconombank and named a successor from top lender Sberbank, the Kremlin said on Friday. Sources had told Reuters last week that Putin had decided to fire VEB chief Vladimir Dmitriev and replace him with Sberbank Vice President Sergei Gorkov, after VEB's...

  • WASHINGTON, Feb 23- The Pentagon's chief arms buyer on Tuesday said U.S. sanctions against Russia do not at this time bar the use of Russian RD-180 engines to power the Atlas 5 rockets that carry U.S. military and intelligence satellites into space. Defense Undersecretary Frank Kendall said the Defense Department had reviewed the issue with the Treasury...

  • MOSCOW, Feb 19- The Russian government is considering a 5 percent cut in defence procurement spending this year, sources say, showing not even Vladimir Putin's plan to restore Moscow's military might is immune to the pain of a slowing economy. The president has made beefing up the military a national priority, and the fact it is up for discussion is a sign that no...

  • MOSCOW, Feb 19- Russia's government is considering cutting spending on defense procurement this year by 5 percent, four official sources told Reuters, a move that would extend the budget squeeze to a sector that up to now has been immune from real cuts. Cutting defense spending is symbolically important because President Vladimir Putin has made restoring...

  • MOSCOW, Feb 19- Russia's government is considering cutting spending on defence procurement this year by 5 percent, four official sources told Reuters, a move that would extend the budget squeeze to a sector that up to now has been immune from real cuts. Cutting defence spending is symbolically important because President Vladimir Putin has made restoring...

  • *Chairman of state development bank loses job. MOSCOW, Feb 18- President Vladimir Putin has removed the head of Russia's ailing state development bank VEB after its bailout needs rose to $16 billion, two sources told Reuters, a sign that in times of crisis Putin puts fiscal discipline before loyalty to allies. The dismissal of Vladimir Dmitriev, if confirmed, is the...

  • MOSCOW, Feb 17- Russia filed a lawsuit against Ukraine on Wednesday at London's High Court in connection with a $3 billion Eurobond debt, Russian Finance Minister Anton Siluanov said. "The lawsuit was filed after repeated unsuccessful attempts to encourage Ukraine to a constructive dialogue on debt restructuring," Siluanov said. Russia has repeatedly...

  • What does Putin have to gain in Syria

    CNBC correspondent Hadley Gamble discusses the lack of ceasefire in Syria and Russian president Vladimir Putin's objectives in the country.

  • Feb 16- Oil ministers from Saudi Arabia, Russia, Qatar and Venezuela started a closed-door meeting in Doha on Tuesday, sources said, their highest-level discussion in months and a potentially pivotal sign that producers are preparing to tackle a devastating supply glut. The talks in the Qatari capital Doha, which had been kept under wraps until recent days,...

  • Feb 16- Top oil officials from Saudi Arabia, Russia and several key OPEC members will meet on Tuesday for their highest-level discussion in months, a potentially pivotal sign that producers are at last preparing to tackle a devastating supply glut. The talks in the Qatari capital Doha, which had been kept under wraps until recent days, involve powerful Saudi Oil...