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RPT-COLUMN-Big miners accept reality of low commodity prices. Now what?: Russell

LAUNCESTON, Australia, Dec 7 (Reuters) - It may seem like stating the obvious, but top miners BHP Billiton and Rio Tinto have said recently that they expect commodities prices to remain subdued.

UPDATE 1-Devon Energy to buy assets from Felix Energy for $1.9 bln

Dec 7 (Reuters) - Oil producer Devon Energy Corp said it will buy some assets in the Anadarko Basin from smaller peer Felix Energy LLC for $1.9 billion, the latest deal in the U.S. oil patch, which has been hit by a supply glut.

COLUMN-Oil torn between fundamentals and hedge fund positions: Kemp

LONDON, Dec 7 (Reuters) - Successful trading rule No.1: do not enter any significant position until you have worked out an eventual exit strategy.

UPDATE 1-Warehouse blaze sweeps through slum in India's Mumbai

* More than 100 huts destroyed -Reuters photographer (Adds details of fire, reports of death, casualties)

Unofficially official: What OPEC's meeting means for US crude production and prices

Following the drama-filled OPEC meeting, Herman Wang and Brian Scheid detail the twists and turns of its Friday announcement about oil production.

National Oilwell Varco to cut another 900 Norwegian jobs

OSLO, Dec 7 (Reuters) - U.S. oilfield equipment maker National Oilwell Varco Inc will cut its Norwegian workforce by another 900 people after low oil prices resulted in fewer orders, the company said on Monday.

Despite low oil prices, Gates looks to Gulf in anti-poverty campaign

ABU DHABI, Dec 7 (Reuters) - Low oil prices and tight budgets in the Gulf are making it harder to raise money for a fund tackling poverty in the Muslim world, but a growing culture of philanthropy may draw in wealthy regional donors, billionaire campaigner Bill Gates said.

Iron ore shipments to China from Port Hedland rise 3 pct in Nov-port

SYDNEY, Dec 7 - Monthly iron ore shipments to China through Australia's Port Hedland rose 3 percent in November amid a sharp weakening in prices for the raw material used in steel production, port data released on Monday showed.

BP says not affected by Azerbaijan oil platform accident

BAKU, Dec 7 (Reuters) - British oil company BP said on Monday its operations in Azerbaijan were not affected by a deadly accident at one of the platforms in the Caspian Sea operated by Azeri state energy company SOCAR.

Fire sweeps through slum in India's Mumbai, residents feared trapped

MUMBAI, Dec 7 (Reuters) - A warehouse fire swept through a slum in the Indian city of Mumbai on Monday after triggering a series of gas cylinder explosions, fire brigade and police officials said.

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