Brent crude LCOc1 reversed early gains to trade near $57 a barrel on Friday, as the glut of oil that has halved prices since June overshadowed investors repositioning at the start of the year for an eventual recovery.
Tags: China
Venezuela's Maduro to visit China, OPEC nations amid cash crunch
Venezuelan President Nicolas Maduro said on Sunday he will visit China and several unspecified OPEC countries during a week-long tour meant to improve the South American nation's finances, which have been weakened by tumbling crude prices.
Oil prices hits fresh five-and-a-half-year lows; Brent below $56
U.S. crude and Brent futures dropped to fresh 5-1/2-year lows on Monday as worries about a surplus of global supplies amid weak demand continued to drag on oil markets.
China aiming to triple patents by 2020
China is aiming to triple the number of patents it files by 2020 as Beijing looks to boost the country's high-tech economy in areas from agriculture to pharmaceuticals, according to a notice from the central government on Sunday.
Russia oil output hits post-Soviet high, small firms help
Russia's 2014 oil output hit a post-Soviet record high average of 10.58 million barrels per day (bpd), rising by 0.7 percent helped by small non-state producers, Energy Ministry data showed on Friday.
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The euro took another downward lurch on Friday, sinking to a 4-1/2 year low against the dollar on clear indications that the European Central Bank will soon embark on outright money-printing.
The euro started the new year at 29-month lows in Asia after the head of the head of the European Central Bank fanned expectations it would take bolder steps on stimulus this month, so underlining the U.S. dollar's rate advantage.
Oil prices fell on Wednesday to a 5-1/2-year low and ended with their second-biggest annual decline ever, down by half since June under pressure from a global glut of crude.
Chinese conglomerate Fosun International Ltd is making its first foray into the U.S. insurance market and buying property and casualty insurer Meadowbrook, a deal that it said would help it secure funds for further acquisitions.
China's homemade ARJ-21 airplane has received permission to fly from the country's civil aviation regulator, the official China Daily reported Wednesday, after years of delays due to technical shortcomings.
Revelers ringing in of the new year this week need to watch out for the next day's hangover. And investors may experience a similar feeling early in 2015 after a two-year run that has propelled U.S. stocks up by nearly 50 percent.
When Xi Jinping wanted to deliver a political message to Hong Kong as protesters demanding free elections were threatening to take to the streets, he summoned the tycoons who dominate the city’s economy.
Chinese stocks were celebrating their best year in five on Wednesday while markets elsewhere in Asia were ending 2014 on a cautionary note as worries about Greece's future in the euro zone served as an excuse to take profits on crowded trades.
Excelerate Energy's Texan liquefied natural gas terminal plan has become the first victim of an oil price slump threatening the economics of U.S. LNG export projects.
