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Russia plans to impose 10 percent cuts on government spending

MOSCOW, Jan 12 (Reuters) - The Russian government has approved a plan to require government departments to cut spending by 10 percent compared with previous plans, repeating a policy also imposed in 2015, two government sources told Reuters.

UPDATE 1-China's 2016 gas demand may rise 6.5 pct, oil demand by 4.9 pct -assn

BEIJING, Jan 12 (Reuters) - China's natural gas demand may rise 6.5 percent in 2016, up from last year's tepid growth, as a cut in government-set prices and efforts to promote gas usage will lift demand for the fuel, said an official at a Chinese industry association.

UK gas prices slide, tracking weakness in oil

LONDON, Jan 12 (Reuters) - British gas prices sank on Tuesday, tracking losses in oil markets.

Azeri oil disaster an open wound for survivors

BAKU, Jan 12 (Reuters) - For the survivors of a lifeboat which hung between a blazing oil rig and 10-metre waves on a wind-lashed sea, the horror lives on while the search for the comrades they saw die is not complete.

China's 2016 oil demand expected to rise 4.9 pct -assn

BEIJING, Jan 12 (Reuters) - China's apparent oil demand is expected to rise 4.9 percent this year to 570 million tonnes, or 11.37 million barrels per day, a domestic industry association said on Tuesday.

Strong dollar inflicts more pain on oil as bearish options bets build

* Oil/dollar have seen a 94 pct inverse correlation since 2015

Oil firms offer online petrol trading in China to tap booming vehicle market

SINGAPORE, Jan 12 (Reuters) - Chinese oil firms are launching digital platforms for consumers such as taxi drivers, truck companies and private car owners to buy fuel speculatively for use at a later stage, stoking a growing trend in China's fast-growing vehicle market.

Against the grain: Agriculture grapples with price pressures

The gathering storm swirling around commodity markets augers of troubled times ahead.

State severance tax revenues decline as fossil fuel prices drop

(Tue, 12 Jan 2016) Several states that collect significant revenue from severance taxes on fossil fuel extraction are re-evaluating current and upcoming operating budgets and taxation structures to address revenue shortfalls. Severance taxes are often imposed on the extraction of nonrenewable resources such as crude oil, natural gas, and coal.

UPDATE 2-Crude oil prices fall as much as 20 pct since beginning of the year

* Traders take record short positions (Adds new Brent low, updates prices)

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