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UPDATE 3-Islamic State kills five policemen near Iraq's Baiji refinery

BAGHDAD, June 17 (Reuters) - Islamic State has killed five policemen in a town near Iraq's biggest refinery, in an attack that may help ease pressure on some of its fighters trapped in the strategically important facility, a security official said on Wednesday.

Russia's Sechin says U.S., not OPEC, rules oil markets

ST PETERSBURG, Russia, June 17 (Reuters) - Igor Sechin, the head of Russia's top oil producer Rosneft, said on Wednesday the United States is calling the shots on global oil markets, while the influence of OPEC has shrunk.

Roaring gasoline puts Europe's refiners in driving seat

LONDON, June 17 (Reuters) - There's rarely been a better time to produce gasoline.

UPDATE 2-Tropical Depression Bill soaks Texas, kills one, brings flood worries

AUSTIN, Texas, June 17 (Reuters) - Tropical Depression Bill drenched large parts of Texas on Wednesday, turning streets into lakes, raising flood worries and killing at least one person in the state where severe weather killed about 30 people last month.

CORRECTED-Low oil price hits $200 billion in mega-projects

LONDON, June 16 (Reuters) - Deepwater oil projects and complex gas facilities worth around $200 billion have been cancelled or put on hold worldwide in recent months due to the sharp drop in oil prices over the past year, consultancy Ernst and Young said on Tuesday.

UPDATE 1-U.S. calls for 'greater commitment' from Iraq's government

WASHINGTON, June 17 (Reuters) - The United States called for a "greater commitment" from Iraq's government on Wednesday in the fight against Islamic State as it lamented Baghdad's failure to deliver enough soldiers for training and underscored the need to empower Sunni tribesmen.

COLUMN-Cheaper prices spur U.S. gasoline demand: Kemp

LONDON, June 17 (Reuters) - Strong growth in demand for refined fuels such as gasoline and diesel is helping to rebalance the global oil market, according to most observers.

U.S. calls for 'greater commitment' from Iraq's government

WASHINGTON, June 17 (Reuters) - The United States called for a "greater commitment" from Iraq's government on Wednesday in the fight against Islamic State as it lamented Baghdad's failure to deliver enough soldiers for training and underscored the need to empower Sunni tribesmen.

Tropical Depression Bill batters Texas with torrential rain

AUSTIN, Texas, June 17 (Reuters) - Tropical Storm Bill was downgraded to a tropical depression on Wednesday as it moved across Texas, bringing heavy rains that flooded streets and snarled transportation in the state where severe weather killed about 30 people last month.

Airline industry backs global emissions trading scheme -IAG

BRUSSELS, June 17 (Reuters) - The boss of International Airlines Group on Wednesday said the industry would prefer a global emissions trading scheme to tackle aviation pollution, although other "interesting" options were also under consideration.

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