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Russia expects Iran nuclear deal for sanctions relief to be implemented in Jan.

VIENNA, Dec 7 (Reuters) - Russia's envoy to the U.N.'s nuclear watchdog said on Monday he expected that a historic nuclear deal between Iran and world powers would be implemented in January, leading to sanctions relief for Tehran.

Speaker of Indonesian parliament denies Freeport extortion allegation

JAKARTA, Dec 7 (Reuters) - The speaker of Indonesia's parliament on Monday denied seeking to extort shares in the local unit of Freeport McMoRan Inc to ensure a contract extension for the mining firm, a member of the assembly's ethics panel said.

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.

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